Value Add Multi-Family Apartment Units In Fresno, CA

For Sale

2118 N Glenn Ave, Fresno, CA 93704

This Fresno property for sale is located at 2118 N Glenn Ave. The current listed sale price for Value Add Multi-Family Apartment Units In Fresno, CA is $595,000. Value Add Multi-Family Apartment Units In Fresno, CA is situated on a lot that is 0.17 acre in size.

Contacts

broker
Jared Ennis

Central CA Commercial

Property Details

  • Property Type Multi-Family
  • Property Size 3,900 SF
  • Units 5
  • Lot Size 0.17 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 10
  • Parking Ratio 4.14 / 1,000 SF
  • Property Tenancy Multi-Tenant
  • Year Built 1966
  • Date Updated Dec 11, 2024
This multi-family complex is situated on the Southwest corner of Glenn Ave & Cambridge Ave. Located just off Fresno's main retail corridor, Blackstone Ave, which is connected to the major Freeways of CA-99, CA-180, CA-41, and CA-168. Fresno is the county seat of Fresno County and the largest city in the greater Central Valley region. Located within minutes of Downtown Fresno which hosts a dense, diverse, thriving neighborhood with farmer’s markets, schools, grocery stores, music festivals, happy hour spots, breweries, bicycle facilities, a monthly ArtHop, food trucks, and world-class murals and public art. This area is considered the fastest growing region in California to proudly serve all of Central California including cities such as Fresno (972,297 metro), Clovis (102,189), Madera (154,998), Visalia (130,753), Tulare (61,170), Hanford (55,840), Lemoore (26,199), Merced (81,743), Sanger (24,270), Selma (23,219), Kingsburg (11,382), and more!100% occupied 5 Unit Multi-Family Apartment complex on ±0.17 Acres of land. Property consists of one two story building with (5) separately-metered units that totals ±3,900 SF. All (5) units include 2 Bed/1 Bath (±760 SF), private entrances, separately metered for gas/electricity, and has access to on-site laundry. Each lease term is 1-year and is month to month, noting tenants to pay their own utility & hot water, separate gas & electric meter. With Fresno City College less than a mile away, this property offers a prime opportunity to attract college students as tenants, ensuring a steady stream of potential renters. The value-add opportunity consists of addressing the under-market rent of the (5) tenants, extending lease length over the next 6-12 months. Value-add opportunity with actual rents of $59,400/year collected plus upside potential. After addressing the slightly under-market rents, the realistic stabilized gross annual income is $91,800. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 8.72% CAP rate.
Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • Value Add 5 Unit Complex w/ Separate Meters
  • Upside Potential: 8.72% CAP Rate & $92K In Rents
  • 100% Occupied | Rent Ready | (5) 2 Bed/1 Bath
  • Private Parking On Site | On Site Laundry | Corner Location
  • Easy Access On and Off HWY CA-41
  • Additional Side Parking and Plenty of Street Parking
  • Long Term Tenants Secured on Leases
  • Robust Tenant Base In The Local Area
  • Corner Location Minutes From Fresno City College
  • Close Proximity To Major Freeways
  • Private Entrances For All Units

Getting around

  • 74/100

    Walk Score ®

  • 47/100

    Transit Score ®

  • 71/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Fresno, CA
  • Neighborhood Tower District
  • Zip Code 93704
  • Market Central Valley

Points of Interest

  • El Prado

    9.86 miles

  • Penny Wise

    1.35 miles

  • Valero

    1.72 miles

  • Chevron

    1.84 miles

  • Arco

    1.85 miles

  • eVgo

    2.12 miles

  • Speedway

    2.23 miles

  • Shell

    2.25 miles

  • ChargePoint

    5.91 miles

  • Tesla Supercharger

    6.99 miles

  • Fresno City College Parking Structure

    0.09 miles

  • Fresno County Employee Parking Garage

    2.43 miles

  • Convention Center Garage

    2.49 miles

  • Double Tree Parking Garage

    2.55 miles

  • Parking Lot T: Visitor Parking

    3.18 miles

  • Parking Lot F

    3.25 miles

  • Cell Phone Waiting Lot

    4.26 miles

  • Fowler Ave Park N Ride

    6.26 miles

  • Parking Lot C

    8.61 miles

  • Parking Lot B

    8.62 miles

  • Best Western Village Inn 1

    0.66 miles

  • Best Western Village Inn 2

    0.68 miles

  • Best Western Village Inn 3

    0.69 miles

  • The Hotel Fresno

    1.12 miles

  • Travelodge Highway 41 Fresno

    1.29 miles

  • Motel 6 Fresno - Blackstone South

    1.50 miles

  • Clarion Pointe Fresno Near Yosemite

    1.52 miles

  • Rodeway Inn & Suites

    1.58 miles

  • Motel 6 Fresno - Blackstone North

    1.76 miles

  • Americas Best Value Inn Fresno Convention Center Downtown

    2.03 miles

  • Tower Market & Deli

    0.84 miles

  • CentralValleyTalk.com

    0.86 miles

  • Target

    1.45 miles

  • Walmart Supercenter

    1.62 miles

  • Grocery Outlet

    1.74 miles

  • Walmart Neighborhood Market

    2.15 miles

  • El Super

    2.26 miles

  • dd's Discounts

    2.27 miles

  • Vallarta

    2.32 miles

  • Save Mart

    2.34 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
Jared Ennis

Central CA Commercial