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Multifamily

San Tropez Apartments

5270 N San Pablo Ave, Fresno, CA 93704

Listing Price: $11,725,000

Cap Rate
4.75%
Number of Units
91
Occupancy
97.0%
Price/Unit
$128,846
Price/Gross SF
$151.82
Gross SF
77,232

Investment Overview

Marcus & Millichap is pleased to present the San Tropez Apartments located in Northwest Fresno. Built in 1984, the complex is 91 units totaling 77,232 square feet on a 6.62 Acre lot. The property consists of ten buildings that have a very favorable unit mix: (26) one-bedroom/one-bathroom units that are approximately 548sf, (57) two-bedroom/ one-bathroom units that are approximately 811sf and (8) three-bedroom/one-bathroom units that are single story approximately 985sf. All of the units are individually metered for gas and electric. All the bedrooms have large walk-in closets and the units have large private front patios. There is a laundry room with (9) washers and (9) dryers that the owner leases for additional income. The property attracts tenants because of the large spacious units and close proximity to shopping and restaurants. The property is very well maintained and easy to manage. There is a carport for each tenant and 25 open spaces and street parking. The property is beautifully landscaped with maturing trees in the walkways between the buildings. There is great upside for a new owner to continuing to increase rents without doing any upgrades on the interiors. Located in Northwest Fresno, San Tropez is conveniently located around shopping, restaurants, schools, and public transportation. The property is 1.4 miles to Fig Garden Village (WholeFoods, Chipotle, Chase Bank and many shops and restaurants. There is public transportation down the street from the building. San Tropez is close to many schools: Gibson Elementary (1.2 miles), Tenaya Middle School (1.5 miles) and Bullard High School (1.2 miles). Priced at a 4.75% Cap Rate on current operations, the subject property gives an investor a great value-add opportunity to increase rents and ask market value with new tenants.

Investment Highlights

  • Favorable Unit Mix: (26) One-Bedroom/One-Bathroom, (57) Two- Bedroom/One-Bathroom and (8) Three-Bedroom/One-Bathroom Units.
  • Located in Northwest Fresno
  • All The Units Have Been Upgraded With Granite Countertops, Vinyl Plank Flooring, Two-Tone Paint and Cabinets.
  • 3% Vacancy Factor in the Trailing 36 Months
  • Close to Restaurants, Shopping and Retail
  • Attractively Priced at a 4.75% Cap Rate on Current Operations, 5.76% On Proforma.

Exclusively Listed By

Listing Price: $11,725,000

Cap Rate
4.75%
Number of Units
91
Occupancy
97.0%
Price/Unit
$128,846
Price/Gross SF
$151.82
Gross SF
77,232

Investment Highlights

  • Favorable Unit Mix: (26) One-Bedroom/One-Bathroom, (57) Two- Bedroom/One-Bathroom and (8) Three-Bedroom/One-Bathroom Units.
  • Located in Northwest Fresno
  • All The Units Have Been Upgraded With Granite Countertops, Vinyl Plank Flooring, Two-Tone Paint and Cabinets.
  • 3% Vacancy Factor in the Trailing 36 Months
  • Close to Restaurants, Shopping and Retail
  • Attractively Priced at a 4.75% Cap Rate on Current Operations, 5.76% On Proforma.

Investment Overview

Marcus & Millichap is pleased to present the San Tropez Apartments located in Northwest Fresno. Built in 1984, the complex is 91 units totaling 77,232 square feet on a 6.62 Acre lot. The property consists of ten buildings that have a very favorable unit mix: (26) one-bedroom/one-bathroom units that are approximately 548sf, (57) two-bedroom/ one-bathroom units that are approximately 811sf and (8) three-bedroom/one-bathroom units that are single story approximately 985sf. All of the units are individually metered for gas and electric. All the bedrooms have large walk-in closets and the units have large private front patios. There is a laundry room with (9) washers and (9) dryers that the owner leases for additional income. The property attracts tenants because of the large spacious units and close proximity to shopping and restaurants. The property is very well maintained and easy to manage. There is a carport for each tenant and 25 open spaces and street parking. The property is beautifully landscaped with maturing trees in the walkways between the buildings. There is great upside for a new owner to continuing to increase rents without doing any upgrades on the interiors. Located in Northwest Fresno, San Tropez is conveniently located around shopping, restaurants, schools, and public transportation. The property is 1.4 miles to Fig Garden Village (WholeFoods, Chipotle, Chase Bank and many shops and restaurants. There is public transportation down the street from the building. San Tropez is close to many schools: Gibson Elementary (1.2 miles), Tenaya Middle School (1.5 miles) and Bullard High School (1.2 miles). Priced at a 4.75% Cap Rate on current operations, the subject property gives an investor a great value-add opportunity to increase rents and ask market value with new tenants.

Exclusively Listed By

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