Normandy Village 840 E Brown Ave 16 Unit Apartment Building $2,300,000 ($143,750/Unit) 6.10% Cap Rate Fresno, CA 93704

Normandy Village Apartments – A Storybook Investment with Rare Upside
840–852 E. Brown Ave & 2617–2645 N. Maroa Ave, Fresno, CA 93704
826 E. Brown Ave, a 2-bedroom house is now included with this sale APN 443-244-04
Step into the charm and history of Normandy Village Apartments, one of Fresno’s most recognizable and architecturally significant multifamily properties. Built circa 1935 and listed on the City of Fresno’s Local Register of Historic Resources (H.P. #209), this 16-unit courtyard community captures the whimsy of a European “Storybook Village” — complete with hand-wrought iron detailing, decorative brickwork, and reclaimed materials that make each building uniquely expressive.
Recent paint and dry-rot repairs have enhanced the property’s curb appeal while preserving its timeless character. The off-site owner has not aggressively minimized vacancies, presenting immediate upside for a hands-on investor or operator. Three units are currently vacant — just two need to be filled to achieve the projected pro forma figures, and full occupancy would push returns even higher.
Thanks to its distinctive design, prime location near the Tower District, and intimate courtyard layout, Normandy Village is perfectly positioned for a boutique Airbnb or short-term rental concept. Guests and tenants alike are drawn to its rare aesthetic and walkable neighborhood setting, creating a lifestyle experience that modern developments simply can’t replicate.
For investors seeking both historic character and income growth, Normandy Village represents a once-in-a-generation opportunity to own a piece of Fresno’s architectural legacy — and unlock its full earning potential through thoughtful, active management.
Each of the six buildings opens onto shared courtyards, creating a unique sense of community and charm rarely replicated in modern multifamily design. The turquoise and red accents, asymmetrical facades, and cozy courtyards have made the property a visual landmark in the area.
Normandy Village has long appealed to Fresno’s artistic and professional community. Historic surveys note that its tenant base over the years has included a high proportion of professionals, including attorneys and educators. Its enduring popularity stems from its blend of historical charm, walkability, and proximity to Fresno’s Tower District amenities.
As a designated historic property, Normandy Village may qualify for property tax reductions under the Mills Act Program, as well as potential grant or repair assistance for preservation-related improvements. These incentives can enhance long-term returns while supporting the continued preservation of this architectural gem.