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Pierce Apartments 1063 Pierce Dr 8 Unit Apartment Building $1,500,000 ($187,500/Unit) 6.43% Cap Rate Clovis, CA 93612
INVESTMENT HIGHLIGHTS
- LOCATED IN THE CITY OF CLOVIS
- RECENTLY RENOVATED
- RARE OPPORTUNITY TO ACQUIRE A PROPERTY IN THIS LOCATION
EXECUTIVE SUMMARY
** NEW PRICING!** Northmarq is pleased to provide a unique opportunity to acquire eight units in the highly desired City of Clovis.
The unit mix is one – one bed, one bath unit at 600 square feet and seven – two bed, one bath units at 700 square feet for total of 5,500 net rentable square feet.
Built in 1977, Pierce has undergone major renovations over the last several years. Features include fireplaces, onsite parking and storage, HVAC and tiled pitch roofs.
Just east of Fresno State and Hwy 168, Pierce provides convenience and yet located on a quiet street.
Pierce is located in the highly desired Clovis Unified School District.
The unit mix is one – one bed, one bath unit at 600 square feet and seven – two bed, one bath units at 700 square feet for total of 5,500 net rentable square feet.
Built in 1977, Pierce has undergone major renovations over the last several years. Features include fireplaces, onsite parking and storage, HVAC and tiled pitch roofs.
Just east of Fresno State and Hwy 168, Pierce provides convenience and yet located on a quiet street.
Pierce is located in the highly desired Clovis Unified School District.
PROPERTY FACTS
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $187,500 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 8,026 SF |
| Cap Rate | 6.43% | Average Occupancy | 95% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1977/2023 |
| Property Subtype | Apartment | Parking Ratio | 1.25/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, Clovis | ||
| Price | $1,500,000 |
| Price Per Unit | $187,500 |
| Sale Type | Investment |
| Cap Rate | 6.43% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 8,026 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2023 |
| Parking Ratio | 1.25/1,000 SF |
| Zoning | R3, Clovis |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Fireplace
SITE AMENITIES
- Smoke Free
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 600 |
| 2+1 | 7 | - | 700 |
1 1
PROPERTY TAXES
| Parcel Number | 420-062-05 | Improvements Assessment | $865,945 |
| Land Assessment | $124,478 | Total Assessment | $990,423 |
PROPERTY TAXES
Parcel Number
420-062-05
Land Assessment
$124,478
Improvements Assessment
$865,945
Total Assessment
$990,423
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Pierce Apartments | 1063 Pierce Dr
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