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4656 E Shields Ave
Fresno, CA 93726
Teakwood Garden Apartments · Multifamily Property For Sale
·
52 Units
PROPERTY FACTS
| No. Units | 52 | Building Size | 53,114 SF |
| Property Type | Multifamily | Average Occupancy | 92% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1972 |
| Building Class | C | Parking Ratio | 1.69/1,000 SF |
| Lot Size | 1.91 AC | ||
| Zoning | R-3, Fresno | ||
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.91 AC |
| Building Size | 53,114 SF |
| Average Occupancy | 92% |
| No. Stories | 2 |
| Year Built | 1972 |
| Parking Ratio | 1.69/1,000 SF |
| Zoning | R-3, Fresno |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Tile Floors
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Garden
- Pantry
- Window Coverings
SITE AMENITIES
- 24 Hour Access
- Property Manager on Site
- Security System
- Laundry Service
- Storage Space
- Maintenance on site
ABOUT 4656 E SHIELDS AVE , FRESNO, CA 93726
Marcus & Millichap is pleased to present the Teakwood Garden Apartments located in Southeast Fresno. Built in 1972, the complex is 52 units totaling 41,422 square feet on a 83,199 square foot lot. The building has a very favorable unit mix of (25) one-bedroom/one-bathroom units that are 700 square feet and (27) two-bedroom/one- and -half bathroom units that are 886 square feet. The units are separately metered for gas and electric. The property attracts young adults and families with an attractive mix of amenities including sparkling pool, large courtyard, one on-site laundry facility with three washers and three dryers, leasing office, covered and uncovered parking, spacious units and front patios (the units facing shields avenue have enclosed back patios) for each unit. Approximately 80% of the units have been upgraded on the interior (tile flooring, white appliances, new water heaters, etc.). The property is very well-maintained and very little deferred maintenance. Teakwood Gardens is located off Maple and Shields in Southeast Fresno with easy access from Highway 41 and Freeway 168. The property is walking distance to Scandinavian Middle School. The property is 1.5 miles from Midtown Plaza (Target,CVS,FoodsCo) and 0.5 miles from Rite Aid and Family Dollar and many other restaurants and retail. The subject property is 2.5 miles from the Veterans Hospital. Priced at a 6.20 cap rate and 7.97 GRM on current income, the subject property represents a position leverage opportunity to add value through upside in rents.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 25 | $680.00 | 700 |
| 2+2 | 27 | $805.00 | 866 |
PROPERTY TAXES
| Parcel Number | 447-050-32 | Improvements Assessment | $3,891,422 |
| Land Assessment | $473,334 | Total Assessment | $4,364,756 |
PROPERTY TAXES
