642 Thorne Ave Fresno, CA 93728

This exceptional 7-unit apartment building in Fresno, CA, presents a compelling investment opportunity. Located at 642 N Thorne Ave, this property boasts 3,643 square feet of net rentable space, spread across a two-story building on a 6,500 square foot lot. Built in 1927 and renovated in 2015 and 2024, the property is currently 100% occupied, generating a substantial net operating income (NOI) of $51,026, representing a 7% cap rate. The asking price is $740,000, translating to $105,714.29 per unit and $203.13 per square foot. The property is zoned R-3 and features separate electric meters for each unit. All tenants are current on rent, minimizing risk. Its convenient location, approximately 2-3 miles from Fresno City College, UEi College, and the VA Hospital, and 4-5 miles from Walmart and Home Depot, ensures high demand and occupancy. The property's proximity to Fresno University and the Tower District provides residents with easy access to shopping, dining, and entertainment. The upcoming California High Speed Rail is anticipated to further boost Fresno's growth and rental demand, enhancing the long-term investment potential. A comparative market analysis (CMA) of income is available upon request. This is a Class C property, ideal for owner-users seeking a strong return on investment in a thriving market. The sale is structured for a 1031 exchange.