532-620 N Fulton St
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532-620 N Fulton St
39 Unit Apartment Building $3,699,999 ($94,872/Unit) 6.75% Cap Rate Fresno, CA 93728
Investment Highlights
- A multi-family complex in close proximity to Fresno City College, CSU Fresno, and the Fresno airport.
- Diverse space usage and visibility presents a lucrative investment opportunity.
- Features 10 commercial/ retail units situated in front of the property attracting foot traffic.
- Ideally located in the heart of downtown Fresno and nearby Tower District.
Executive Summary
Features 39 fully occupied apartment units which are a mix of studios, one bedroom and one two bedroom. Situated in the heart of Fresno, near major freeways which makes this a convenient location for potential residents. This multi-family complex is close to Fresno City College, CSU Fresno, and the Fresno airport this caters to a diverse population looking for convenience and easy access. There are 10 commercial/ retail spaces that sit in front of the property which will come as an added bonus to this complex. These commercial spaces bring a potential of added convenience to the residents at Fultonia. Some potential usages included small clothing stores, small insurance companies, and cafes. With the opportunity for rent increases, this property presents a lucrative investment opportunity with the potential to generate over $10,000 a month in additional income monthly. This apartment complex is perfectly placed between downtown Fresno and The Tower District. This is an RDA with 42 years covenant left. This is being sold with an additional APN: 452-275-05
Property Facts Under Contract
| Price | $3,699,999 | Building Class | C |
| Price Per Unit | $94,872 | Lot Size | 0.79 AC |
| Sale Type | Investment | Building Size | 29,622 SF |
| Cap Rate | 6.75% | No. Stories | 2 |
| No. Units | 39 | Year Built/Renovated | 1950/2010 |
| Property Type | Multifamily | Parking Ratio | 2/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $3,699,999 |
| Price Per Unit | $94,872 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.79 AC |
| Building Size | 29,622 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1950/2010 |
| Parking Ratio | 2/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Balcony
- Sprinkler System
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Walk Score ®
Very Walkable (77)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,274,729 | |
| Land Assessment | $301,186 | Total Assessment | $2,575,915 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$301,186
Improvements Assessment
$2,274,729
Total Assessment
$2,575,915
zoning
| Zoning Code | C-5 |
| C-5 |
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532-620 N Fulton St
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