$610,000 Price Analysis    ♡   Fresno, CA 93702 5 bed 5 bath 2,828 SqFt ($215/SqFt) 8,100SqFt lot. Built 1960 Listed 2024-04-07, Taxes $1,969 | Ⓧ USDA Ineligible due to location near Fresno |
This multifamily deal in Fresno presents an interesting opportunity for investment
* Sale Pending *Particularly because of its involvement with the Fresno Housing Authority and the voucher system.Property: 5-unit apartment complex, all 1 bed 1 bath. Unit A $1047, Unit B $1204 Unit C $1169, Unit D $vacant Pot for %1205 Unit E $861 Occupancy: 80%, with 3 units on Fresno Housing Authority vouchers.Current Rent: $5486 month ($65832 annually).Potential Rent: Up to $6, 160/month with a 9.2% increase, considering the maximum Fresn HA voucher amount ($1, 308).Expenses: $13, 455 annually.
--As per current expenses stated by the seller.--Brand new buyer may have more or less.Cap Rate: Caprate---$ 5400X 100 = 8.769----Cap rate must be calculated by buyers and buyers agent.Stable Income: The involvement of the Fresno Housing Authority suggests a potentially good rental income, especially with the current 100% occupancy rate.Income Growth Potential: There may be room for rental increases within the Fresno HA voucher limits, which may boost the income and, consequently, the property's value.Low Expenses: The annual expenses are relatively low compared to the gross income, indicating efficient management
Presented by Puneet Bhargava at
Realty Concepts, Ltd.
Property MLS #610492 from Fresno
Full Bathrooms: 5
Lot Size Acres: 0.1859504
Lot Size Square Feet: 8100
Parking Features: Carport
Calculated Total Monthly Association Fees: 0
Number of Units: 5
Tenant Pays: Electricity, Gas
Source Listing Status: Pending AcceptBackup
County: Fresno
Cross Street: Belmont and Maple
Source Property Type: Multi Family
Area: 702
Source Neighborhood: 702
Parcel Number: 45431210
Postal Code Plus 4: 2474
State Region: Urban
Property Subtype: 5 to 15 Units
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $121,887 + $23,213 $145,100 | $1,969 |
| 2021 | $119,498 + $22,758 $142,256 | $1,918 |
| 2020 | $118,273 + $22,525 $140,798 | $1,910 |
| 2019 | $115,954 + $22,084 $138,038 | $1,840 |
| 2018 | $113,681 + $21,651 $135,332 | $1,802 |
| 2017 | $111,452 + $21,227 $132,679 | $1,773 |
| 2016 | $109,267 + $20,811 $130,078 | $1,718 |
| 2015 | $107,626 + $20,499 $128,125 | $1,693 |
| 2014 | $105,518 + $20,098 $125,616 | $1,656 |
| 2013 | $105,000 + $20,000 $125,000 | $1,649 |
| 2012 | $80,000 + $20,000 $100,000 | $1,341 |
| 2010 | $105,000 + $20,000 $125,000 | $1,977 |
| 2009 | $112,000 + $40,000 $152,000 | $2,173 |
| 2009 | $111,734 + $39,905 $151,639 | $2,173 |
| 2008 | $145,546 + $19,846 $165,392 | $2,443 |
| 2007 | $142,693 + $19,457 $162,150 | $2,070 |
$610,000
Fresno
Listed 2024-04-07
$620,000
Fresno
Listing removed 2024-01-27
$0
Fresno
Listed 2023-07-27
$599,000
Fresno
Sold 2023-01-09
$430,550
Fresno
Relisted 2022-11-10
$484,900
Fresno
Listing removed 2022-11-09
$0
Fresno
Listed 2022-10-31
$484,900
Fresno
Listing removed 2010-12-01
$397,000
Fresno
Listing removed 2010-12-01
$397,000
Fresno
Listed 2007-01-03
$397,000
Fresno
Listed 2005-09-23
$397,000
Fresno
Sold 2003-05-27
$150,000
Public Record
Year Built: 1960
Building Exterior Type: Stucco
Levels: Two
Property Age: 64
Roof: Composition
Levels or Stories: 2
Sewer: Public Water, Public Sewer
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.