Property Detail

Description

5-Unit Apartment Complex in Fresno's Historic Lowell neighborhood and thriving rental market. This property offers a rare combination of modern upgrades and strong cash flow potential, and close to city amenities. Updated units with laminate wood flooring, new countertops, appliances, and contemporary fixtures. Fresnos rental market is booming, ranking as the 9th most competitive rental market in the nation with a low vacancy rate of just 2.9%, tying for the 6th lowest in the U.S. (Forbes, 2024). Since 2019, fair market rents in Fresno have surged by 50%, with average rents now at $1,285/month and ranging up to $1,907/month depending on unit size and location (Apartments.com). This property is located near the intersection of Highways 99 and 180 near Downtown Fresno. Diverse shopping centers within 1.5 miles, including international grocers and small markets on East Olive Avenue. The Community Regional Medical Center is walking distance. All units are 100% fully occupied with some Section 8 tenants with Fresno County Housing Authority.