140-150 N Diamond St
Fresno, CA 93701
Diamond Plaza Apartments · Multifamily Property For Sale · 28 Units

Marcus & Millichap is pleased to present the Diamond Plaza Apartments located in Fresno, CA. The property is two story construction. Built in 1963, the complex is 28 units totaling 18,200 square feet on a 28,800 square foot lot. The property consists of three two-story buildings. The building has a favorable unit mix: (16) one-bedroom/one-bathroom units and (12) two-bedroom/two-bathroom units. Each unit is separately metered for gas and electric as well as one on-site laundry room for additional income. The property has spacious units with private patios in the front of each unit. The property is very well maintained and easy to keep up. There is plenty of parking with carports and street parking. The exterior of the building was recently painted and all the units got new windows. Six of the units have been renovated (vinyl flooring in kitchen and bathroom, new carpet in bedrooms and upgraded to white appliances). Diamond Plaza is located in Downtown Fresno and close proximity to Mariposa Plaza. The property is located off Highway 41, with easy access to both Highway 180 and 41. Mariposa Plaza lies at the heart of downtown, at the cross roads of the High Speed Rail (HSR) Station, Bus Rapid Transit (BRT) station, and the newly restored Fulton Street. Fulton Street is in the process of a large extensive revitalization process (new restaurants, bars, retail and offices) which will increase foot traffic in Downtown Fresno. The subject property is 1/2 mile from Community Hospital and other medical services. Diamond Plaza is located across the street from Jefferson Elementary and 0.8 miles from Tehipite Middle School. Price at a 5.76 cap rate and 8.95 GRM on current income, the subject property represents a position leverage opportunity to add value through continuing upgraded interior and increasing the rents.