Property Listing No Longer Available for Sale

4420-22 E. Sierra Madre Avenue

Fresno, CA

Multi-family for Sale - $1,125,000 - 13,914 Sq. Ft. on 31590 acres


Property Info

CIMLS#717700
Location
  4420-22 E. Sierra Madre Avenue
  Fresno CA 93726
UpdatedNovember 12th, 2014
TypeMulti-family
Price$1,125,000
Building13,914 Sq. Ft.
Land31590 acres

Property Description

This offering is for two adjacent apartment complexes. The complex on the corner of Rowell and Sierra Madre is a nine unit complex that is comprised of four(4) 2 bed / 1 bath and five(5) 1 bed / 1 bath units. The building is stick frame construction with composition shingle roofs, stucco siding on a concrete slab. Cooling is provided by evaporation coolers and heating is provided by wall furnaces. The complex next door is a 10 unit two story structure that is comprised of all 2 bed / 2 bath units. The building is stick frame construction with composition shingle roofs, wood siding on a concrete slab. Heating and cooling are provided by forced air systems. Each complex has covered parking stalls at the rear of the property.

Location Description:

Fresno is the economic hub of the central San Joaquin Valley of California and is now the 5th largest city in the state. This area boasts the most productive agricultural land in the nation, producing over $3 billion annually. Fresno's central location lends itself to being a major distribution center which supports many industries as well as a large medical community. Residents of this area enjoy easy access to National parks such as Yosemite and recreational activities in the neighboring National Forests. This offering is one block from California State University of Fresno that has over 22,000 students and is just up the road from Fashion Fair Mall a regional mall anchored by J.C. Penny's, Macy's, Forever 21 along with numerous eateries and specialty shops.

Highlights:

>> Excellent Location Next To Fresno State University

>> One Block Off Shaw Avenue And Freeway 168

>> Close To Numerous Restaurants

>> Near Fashion Fair Mall

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Financials

Sales Info:

>> Cap rate: 6.88%

>> Commision split: 3.0%

>> NOI: $77364