104 Sierra AveFresno, CA 93710

Property Details for 104 Sierra Ave

Year built

1970

Construction

TYPE NOT SPECIFIED

Lot size

2.38 AC

Zone code

CMX

Property type

Residential income properties

Property subtype

Mobile home & RV parks

APN

408-050-09

APU

40805009

Description

This exceptional 5.21-acre parcel presents a compelling redevelopment opportunity in Fresno, California. Currently operating as a 60-unit mobile home park, the property boasts coveted CMX zoning, allowing for a wide range of residential and non-residential uses. The site features 123,972 square feet and over 300 feet of frontage on Sierra Avenue in North Fresno. Its strategic location offers convenient access to Highway 41 and proximity to major retail centers, restaurants, entertainment venues, River Park Shopping Center, Kaiser Permanente Fresno Medical Center, California State University, Fresno, and Woodward Park, all within a 5-10 minute drive. Downtown Fresno's revitalized area is an 18-minute drive, and Fresno Yosemite International Airport is a 20-minute drive away. The property is situated in a CTCAC/HCD High Resource Opportunity Zone, benefiting from potential incentives. Public sanitary sewer and water lines are readily available on-site. With a 4.5% multi-family vacancy rate in the North Fresno submarket and minimal new multi-family construction anticipated for the next two years, this presents a unique chance to capitalize on high demand. The asking price is $4,095,000, offering significant value-add potential. Built in 1979, this fee-simple property (APN 408-050-09) presents a rare chance to develop a substantial project in a thriving California market. The CMX zoning permits up to 30 dwelling units per acre for multi-family development.

• CAP approach

  CAP return

  Valuation

  6%

  $28,215,542

  6.5%

  $26,045,116

  7%

  $24,184,750

• Comparable approach

  Method

  Valuation

  Relative Method

  $23,628,372

  Geo Method

  $44,818,496

• Alternative Use

  Use

  Valuation

  Residential

  $26,045,116

  Hospitality

  $23,857,186

  Educational

  $19,848,898

  Medical

  $20,531,534

  Retail

  $30,876,064

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.8313

Longitude

-119.787

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].