For Sale
$1,960,000

1334 Wishon AveFresno, CA 93728

14-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional 14-unit apartment building presents a compelling investment opportunity in Fresno, California. Located at 1334 N. Wishon Avenue, this property boasts a total of 9,520 square feet situated on a 27,000 square foot lot. The property comprises seven identical duplexes, each featuring one bedroom and one bathroom. Approximately half of the units include in-unit washer/dryer hookups. Built in 1937 and never before offered for sale, this property offers a unique chance to acquire a well-maintained asset with significant upside potential. The property is currently fully occupied with long-term tenants, generating a substantial net operating income (NOI) of $108,594, representing a 6.00% cap rate. The asking price is $1,960,000, or $140,000 per unit, and the property features 14 parking spaces. The convenient location offers proximity to Olive Avenue, the Tower District, and major freeways (41, 99, and 180). Zoned CMS, this property presents a rare opportunity for investors seeking a stable, high-yield investment with considerable potential for rent increases. The current rents are significantly below market value, offering substantial room for growth and increased profitability. This is a truly unique opportunity to acquire a fully leased, historically significant property with a proven track record of consistent income. The property's 680 square feet of net rentable space per unit and its strong location make it an attractive investment.

Highlights

  • 14-unit apartment building in Fresno, CA, offering significant upside potential due to rents currently 33% below market value.
  • Fully leased with long-term tenants, generating a $108,594 NOI and a 6.00% cap rate.
  • Prime location near Olive Avenue, Tower District, and freeways 41, 99, and 180.

Property Details for 1334 Wishon Ave

Property type
Apartment buildings, Small apartment buildings
Square Feet
9,520 SF
Year Built
1937
Buildings
7
Stories
1
Units
14

Location Insight

City
Fresno
County
Fresno
State
California
Latitude
36.7602593
Longitude
-119.8008872
1334 Wishon Ave, Fresno, California

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1334 Wishon Ave
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