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1501 W Shields Ave
Fresno, CA 93705
Shields-West Apartments · Multifamily Property For Sale
·
57 Units
PROPERTY FACTS
| No. Units | 57 | Building Size | 45,312 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 1 |
| Apartment Style | Garden | Year Built | 1963 |
| Building Class | C | Parking Ratio | 0.9/1,000 SF |
| Lot Size | 3.37 AC | ||
| Zoning | R-3 | ||
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.37 AC |
| Building Size | 45,312 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1963 |
| Parking Ratio | 0.9/1,000 SF |
| Zoning | R-3 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Ceiling Fans
- Refrigerator
- Range
- Carpet
- Pantry
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Gated
ABOUT 1501 W SHIELDS AVE , FRESNO, CA 93705
Marcus & Millichap is pleased to present the Shields-West Apartments located in Northwest Fresno. Built in 1966, the complex is 57 units totaling 45,312 square feet on a 146,880 square foot lot. The building is single-story construction and has a very favorable unit mix of (33) one-bedroom/one-bathroom units that are 780 square feet and (24) two-bedroom/ one-bathroom units that are 880 square feet. All the units are individually metered for gas and electric. All the bedrooms have large walk-in closets and ceiling fans. The property attracts young professionals and families alike with large spacious units and close proximity to shopping and restaurants. The property has (2) laundry facilities with six washers and six dryers that the owner leases. The property is very well maintained and easy to manage. There is a carport for each tenant and forty-eight open spaces. There is great upside for a new owner to upgrade interiors (plank flooring, black appliances and resurface counter tops) to increase rents. Located in Northwest Fresno, Shields-West is conveniently located around shopping, restaurants, schools and public transportation. The property is walking distance to CVS and 1mile from Westlan Shopping Center (Savemart, Starbucks and Dollar Tree). Across the street from the property is public transportation. Roeding School is 0.4 miles from the subject property as well as Cooper Middle School. Priced at a 5.83% Cap Rate on current operations, the subject property gives an investor a great value-add opportunity to upgrade the interiors and increase rents.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 33 | $820.00 | 780 |
| 2+1 | 24 | $950.00 | 880 |
PROPERTY TAXES
| Parcel Number | 442-150-46 | Improvements Assessment | $4,236,935 |
| Land Assessment | $951,470 | Total Assessment | $5,188,405 |
PROPERTY TAXES
