628 Fresno StFresno, CA 93701

Property Details for 628 Fresno St

Year built

1936

Construction

WOOD

Lot size

0.34 AC

Property size (Sq ft)

3,876 SF

Zone code

NMX

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

452-321-20

APU

45232120

Description

This meticulously renovated six-unit apartment complex in Fresno, CA, presents a compelling investment opportunity. Built in 1936 and extensively remodeled in 2022 with over $240,000 in improvements, the property boasts a new roof, stucco siding, and freshly paved parking lot. The three single-story buildings sit on a 15,000 square foot lot and feature a total of 3,876 square feet of living space. Each unit includes ductless air conditioning, contemporary kitchen cabinets, new flooring, upgraded light fixtures, and updated bathrooms with stylish sinks and showers. The property is fully occupied (100% occupancy), generating a strong net operating income (NOI) of $64,255, resulting in a 7.26% cap rate. The asking price is $885,000, or $147,500 per unit, and the price per square foot is $228.33. Located at 628 N Fresno St, Fresno, CA 93701 (APN 45232120), this complex benefits from its proximity to downtown Fresno, a major hospital, shopping, and Fresno City College. Private security fencing and professionally landscaped grounds enhance the property's appeal. The permitted zoning is NMX. This property offers a blend of modern amenities, a convenient location, and substantial rental income, making it an ideal investment in Fresno's thriving real estate market.

• CAP approach

  CAP return

  Valuation

  6%

  $681,363

  6.5%

  $628,950

  7%

  $584,025

• Comparable approach

  Method

  Valuation

  Relative Method

  $797,777

  Geo Method

  $1,675,636

• Alternative Use

  Use

  Valuation

  Residential

  $628,950

  Hospitality

  $576,115

  Educational

  $479,321

  Medical

  $495,806

  Retail

  $745,610

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7522

Longitude

-119.781

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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