190 Van Ness AveFresno, CA 93701

Property Details for 190 Van Ness Ave

Lot size

0.07 AC

Zone code

RS5

Property type

Retail properties

Property subtype

Other automotive properties

APN

459-311-02

APU

45931102

Description

This exceptional investment opportunity presents a 12-unit, single-story office building located at 190 N Van Ness Ave, Fresno, CA 93701. The property, totaling 3,747 square feet on an 11,775 square foot lot, boasts a strong 92% occupancy rate with 12 tenants. Built in 1966 and completely remodeled in early 2023, the building features two structures and is classified as a Class B property. The current asking price is $698,000, reflecting a 6.65% cap rate and a pro-forma cap rate of 6.66%. The property's net rentable area is 2,915 square feet, with a price per square foot of $186.28 and a price per unit of $58,167. The lease type is gross, and rent bumps are in place. The property includes one parking space per unit, gated parking, and gated access to offices and common areas. Fully automated access is also available. Further enhancing its value, the building features fully owned solar panels added in August 2024. The property is fully ADA compliant and zoned NMX (with additional parking zoned RS-5). This stabilized investment offers significant upside potential due to the lack of comparable individual office suites in the area and the absence of rent control, allowing for market-rate rent increases. The property is ideal for a variety of tenants, including those in beauty services, tech, legal, and insurance. Financial details are available upon request.

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7457

Longitude

-119.798

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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