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360 N Calaveras St 5 Unit Apartment Building $598,000 ($119,600/Unit) 6.48% Cap Rate Fresno, CA 93701
EXECUTIVE SUMMARY
New Price. 5-Unit Apartment Complex in Fresno's Historic Lowell neighborhood and thriving rental market. This property offers a rare combination of modern upgrades and strong cash flow potential, and close to city amenities. Updated units with laminate wood flooring, new countertops, appliances, and contemporary fixtures. Fresnos rental market is booming, ranking as the 9th most competitive rental market in the nation with a low vacancy rate of just 2.9%, tying for the 6th lowest in the U.S. (Forbes, 2024). Since 2019, fair market rents in Fresno have surged by 50%, with average rents now at $1,285/month and ranging up to $1,907/month depending on unit size and location (Apartments.com). This property is located near the intersection of Highways 99 and 180 near Downtown Fresno. Diverse shopping centers within 1.5 miles, including international grocers and small markets on East Olive Avenue. The Community Regional Medical Center is walking distance.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$56,940
|
$8.77
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$56,940
|
$8.77
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$12,500
|
$1.93
|
| Net Operating Income |
$44,440
|
$6.85
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $56,940 |
| Annual Per SF | $8.77 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $56,940 |
| Annual Per SF | $8.77 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $12,500 |
| Annual Per SF | $1.93 |
| Net Operating Income | |
|---|---|
| Annual | $44,440 |
| Annual Per SF | $6.85 |
PROPERTY FACTS
| Price | $598,000 | Apartment Style | Low-Rise |
| Price Per Unit | $119,600 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.17 AC |
| Cap Rate | 6.48% | Building Size | 6,492 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 12.88 | No. Stories | 1 |
| No. Units | 5 | Year Built | 1964 |
| Property Type | Multifamily | Parking Ratio | 1.75/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | R-3 | ||
| Price | $598,000 |
| Price Per Unit | $119,600 |
| Sale Type | Investment |
| Cap Rate | 6.48% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 12.88 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.17 AC |
| Building Size | 6,492 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1964 |
| Parking Ratio | 1.75/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 5 | $953.50 | - |
1 1
Walk Score®
Very Walkable (75)
Bike Score®
Very Bikeable (83)
PROPERTY TAXES
| Parcel Number | 459-153-16 | Improvements Assessment | $509,796 |
| Land Assessment | $36,414 | Total Assessment | $546,210 |
PROPERTY TAXES
Parcel Number
459-153-16
Land Assessment
$36,414
Improvements Assessment
$509,796
Total Assessment
$546,210
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360 N Calaveras St
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