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2702-2720 E Hedges Ave 10 Unit Apartment Building $1,399,000 ($139,900/Unit) 6.88% Cap Rate Fresno, CA 93703
Investment Highlights
- Qualifies for housing assistance programs such as Section 8
- Centrally located in Fresno and in close proximity to Freeways 41 and 180
- Property comes with an adjacent vacant lot, providing opportunity to develop and increase cash flow
- Strong cash flow potential and a solid foundation for investors seeking portfolio growth
- Seller will consider seller financing with significant down payment
- Turnkey condition
Executive Summary
Six out of the ten units have been renovated in recent years.
The adjacent vacant lot has been approved for 5 additional units.
Landlord pays all utilities including: P.G.&E., water, sewer and trash.
The adjacent vacant lot has been approved for 5 additional units.
Landlord pays all utilities including: P.G.&E., water, sewer and trash.
Property Facts
| Price | $1,399,000 | Building Class | C |
| Price Per Unit | $139,900 | Lot Size | 0.96 AC |
| Sale Type | Investment | Building Size | 7,774 SF |
| Cap Rate | 6.88% | No. Stories | 1 |
| No. Units | 10 | Year Built | 1942 |
| Property Type | Multifamily | Parking Ratio | 2.57/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | RM1 - Apartments | ||
| Price | $1,399,000 |
| Price Per Unit | $139,900 |
| Sale Type | Investment |
| Cap Rate | 6.88% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.96 AC |
| Building Size | 7,774 SF |
| No. Stories | 1 |
| Year Built | 1942 |
| Parking Ratio | 2.57/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM1 - Apartments |
Amenities
Site Amenities
- Fenced Lot
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 10 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 451-312-01 | Improvements Assessment | $967,572 |
| Land Assessment | $176,868 | Total Assessment | $1,144,440 |
Property Taxes
Parcel Number
451-312-01
Land Assessment
$176,868
Improvements Assessment
$967,572
Total Assessment
$1,144,440
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2702-2720 E Hedges Ave
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