1911 E Saginaw Way
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1911 E Saginaw Way
6 Unit Apartment Building $1,199,000 ($199,833/Unit) 6.56% Cap Rate Fresno, CA 93726
Investment Highlights
- High Density Rental Community
- Professional Managed Apartment Complex
- Units have been updated.
- Current Market Rent Rates
Executive Summary
Desirable Investment Opportunity in North Fresno. This 6-unit apartment complex, located in the northern end of Fresno, near HWY 41, presents a prime investment opportunity. Each unit offers a spacious 3-bedroom, 1-bathroom layout with a living room and kitchen combo, complete with centralized HVAC heating and cooling systems. All 6 units are currently rented, with rent rolls near market rates, ensuring positive income from day one. The new roof was upgraded in 2022. The complex also features 10 parking spaces and plenty of on-street parking, which adds convenience for tenants. Additional income streams come from the on-site utility room's leased washer and dryer units. Surrounded by other rental properties and close to a nearby community park, the property is ideally situated for renters. The proximity to shopping centers adds to its appeal, making it a sought-after location. Professionally managed, this complex is well-maintained and ready to continue generating steady returns. Financials: Income and expenses are available upon request.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$112,704
|
$22.36
|
| Other Income |
$3,600
|
$0.71
|
| Vacancy Loss |
$5,635
|
$1.12
|
| Effective Gross Income |
$110,669
|
$21.96
|
| Taxes |
$10,800
|
$2.14
|
| Operating Expenses |
$17,280
|
$3.43
|
| Total Expenses |
$28,080
|
$5.57
|
| Net Operating Income |
$82,589
|
$16.39
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $112,704 |
| Annual Per SF | $22.36 |
| Other Income | |
|---|---|
| Annual | $3,600 |
| Annual Per SF | $0.71 |
| Vacancy Loss | |
|---|---|
| Annual | $5,635 |
| Annual Per SF | $1.12 |
| Effective Gross Income | |
|---|---|
| Annual | $110,669 |
| Annual Per SF | $21.96 |
| Taxes | |
|---|---|
| Annual | $10,800 |
| Annual Per SF | $2.14 |
| Operating Expenses | |
|---|---|
| Annual | $17,280 |
| Annual Per SF | $3.43 |
| Total Expenses | |
|---|---|
| Annual | $28,080 |
| Annual Per SF | $5.57 |
| Net Operating Income | |
|---|---|
| Annual | $82,589 |
| Annual Per SF | $16.39 |
Property Facts
| Price | $1,199,000 | Apartment Style | Low Rise |
| Price Per Unit | $199,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.22 AC |
| Cap Rate | 6.56% | Building Size | 5,040 SF |
| Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 10.9 | No. Stories | 2 |
| No. Units | 6 | Year Built | 1988 |
| Property Type | Multifamily | Parking Ratio | 1.67/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Price | $1,199,000 |
| Price Per Unit | $199,833 |
| Sale Type | Investment |
| Cap Rate | 6.56% |
| Sale Conditions | 1031 Exchange |
| Gross Rent Multiplier | 10.9 |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 5,040 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1988 |
| Parking Ratio | 1.67/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Microwave
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 6 | - | - |
1 of 1
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Number | 436-183-13 | Total Assessment | $867,000 |
| Land Assessment | $48,960 | Annual Taxes | $10,800 ($2.14/SF) |
| Improvements Assessment | $818,040 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
436-183-13
Land Assessment
$48,960
Improvements Assessment
$818,040
Total Assessment
$867,000
Annual Taxes
$10,800 ($2.14/SF)
Tax Year
2023
zoning
| Zoning Code | R-4, Fresno (This property is located in an R4 zoning district, allowing for medium- to high-density residential development.) |
| R-4, Fresno (This property is located in an R4 zoning district, allowing for medium- to high-density residential development.) |
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