6035 N College Ave
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6035 N College Ave
4 Unit Apartment Building $995,000 ($248,750/Unit) 6% Cap Rate Fresno, CA 93704
Investment Highlights
- Quiet cul de sac near Fig Garden Village and Riverpark
- Private patios
- Large 2/2 with 1,320ft2; extra room that doubles as a 3rd bedroom with closet and doors
Executive Summary
Spacious 2 bedroom, 2 bath, 1,320ft2 units with private/covered patio, extra room that doubles as an additional bedroom (closet, doors). Typically rented as 3/2s. 100% occupied, quiet area near Old Fig and Riverpark. On-site laundry, with key-code access. Monthly rents are $6835, annual rents are $82,020. Over the past year all four units have been updated with new paint, new appliances, new electrical outlets/lighting/fans/vents, new hardware, mostly new flooring, new bathroom fixtures/toilets, new garbage disposals. Also, the roof/carport was recoated 10/15/24, all units have new GE electrical subpanels, new carport rain gutters, new hvac condensation lines. Professionally managed. Loan is non-assumable. Professional photos to be upload Friday afternoon. The buyer(s) will be required to participate in the sellers' 1031 exchange at no costs to the buyer(s).
Agent Remarks: Please do not disturb tenants or walk the grounds, tenants are unaware of the sale. Submit offer subject to walk through inspection, with copy of recent POF as well as letter from lender or proof of cash. Rents in MLS are correct at time of listing and may be subject to change. Seller is a California licensed real estate salesperson and has ownership in the property.
Agent Remarks: Please do not disturb tenants or walk the grounds, tenants are unaware of the sale. Submit offer subject to walk through inspection, with copy of recent POF as well as letter from lender or proof of cash. Rents in MLS are correct at time of listing and may be subject to change. Seller is a California licensed real estate salesperson and has ownership in the property.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
---|---|---|
Gross Rental Income | $82,020 | $15.51 |
Other Income | - | - |
Vacancy Loss | - | - |
Effective Gross Income | $82,020 | $15.51 |
Taxes | - | - |
Operating Expenses | - | - |
Total Expenses | $15,276 | $2.89 |
Net Operating Income | $66,744 | $12.62 |
Financial Summary (Actual - 2024)
Gross Rental Income | |
---|---|
Annual | $82,020 |
Annual Per SF | $15.51 |
Other Income | |
---|---|
Annual | - |
Annual Per SF | - |
Vacancy Loss | |
---|---|
Annual | - |
Annual Per SF | - |
Effective Gross Income | |
---|---|
Annual | $82,020 |
Annual Per SF | $15.51 |
Taxes | |
---|---|
Annual | - |
Annual Per SF | - |
Operating Expenses | |
---|---|
Annual | - |
Annual Per SF | - |
Total Expenses | |
---|---|
Annual | $15,276 |
Annual Per SF | $2.89 |
Net Operating Income | |
---|---|
Annual | $66,744 |
Annual Per SF | $12.62 |
Property Facts
Price | $995,000 | Property Subtype | Apartment |
Price Per Unit | $248,750 | Apartment Style | Garden |
Sale Type | Investment | Lot Size | 0.29 AC |
Cap Rate | 6% | Building Size | 5,289 SF |
Sale Conditions | 1031 Exchange | Average Occupancy | 100% |
No. Units | 4 | No. Stories | 1 |
Property Type | Multifamily | Year Built/Renovated | 1970/2024 |
Price | $995,000 |
Price Per Unit | $248,750 |
Sale Type | Investment |
Cap Rate | 6% |
Sale Conditions | 1031 Exchange |
No. Units | 4 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Garden |
Lot Size | 0.29 AC |
Building Size | 5,289 SF |
Average Occupancy | 100% |
No. Stories | 1 |
Year Built/Renovated | 1970/2024 |
Site Amenities
- Laundry Facilities
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+2 | 4 | - | - |
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PROPERTY TAXES
Parcel Number | 407-391-40 | Improvements Assessment | $517,140 (2023) |
Land Assessment | $129,540 (2023) | Total Assessment | $646,680 (2023) |
PROPERTY TAXES
Parcel Number
407-391-40
Land Assessment
$129,540 (2023)
Improvements Assessment
$517,140 (2023)
Total Assessment
$646,680 (2023)
zoning
Zoning Code | R2A |
R2A |
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6035 N College Ave
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