Exceptional investment opportunity featuring a well-maintained 21-unit apartment complex situated on additional acreage with future development potential. Originally designed and entitled as a 21-unit condominium project with separate APN numbers, the property was later converted into a professionally operated apartment community, offering investors flexibility and long-term upside potential. The current ownership has extensively upgraded and meticulously maintained the property, resulting in strong tenant retention and stable rental income consistent with the area’s high demand. The unit mix consists of 7 spacious 3-bedroom, 1.5-bath units and 14 well-appointed 2-bedroom, 1.5-bath units, appealing to a broad tenant base. With additional land available for possible expansion and increased density potential (buyer to verify with local agencies), this property presents a rare opportunity to acquire a stabilized asset with both immediate cash flow and future development upside. Ideal for investors seeking a pride-of-ownership asset with proven performance and value-add potential.
| MLS # | CV26103626 |
|---|---|
| Listing Type | For Sale |
| Style | Condominium |
| Sub-Type | Resale |
| Status | Active |
| Year | 1992 |
| Days On Site | 105 |
| Listing Provided By | RE/MAX CHAMPIONS | Sean Brunske |
| SQ Feet | 1,192 |
|---|---|
| Garage | 1 |
| Story(s) | 2 |
| Units | 21 |
| Building(s) | 5 |
| Acreage | 2.33 |
| Cooling | Central Air |
|---|---|
| Heating | Central |
| Heating Yes / No | Yes |
| Cooling Yes / No | Yes |
| Fireplace Yes / No | No |
| Lot Features | Lot Over40000Sqft |
|---|
| Parking Features | Direct Access, Garage |
|---|---|
| Garage Yes / No | Yes |
| Sewer | Public Sewer |
|---|
| Community Features | Sidewalks |
|---|
| State | CA |
|---|---|
| County | Fresno |
| City | Fresno |
| Zip Code | 93702 |
| Area | FSNO Fresno |
| Listing VS Median (in 93702) | |
Price: $3,995,000 low | high Med: $2,210,000 sqft: 1,192 low | high Med: 1,421 $ / sqft: $3,352 low | high Med: $1,805 On site: 105 low | high Med: 84 | |
| State | CA |
|---|---|
| County | Fresno |
| City | Fresno |
| Zip Code | 93702 |
| Area | FSNO Fresno |
| Listing VS Median (in 93702) | |
Price: $3,995,000 low | high Med: $2,210,000 sqft: 1,192 low | high Med: 1,421 $ / sqft: $3,352 low | high Med: $1,805 On site: 105 low | high Med: 84 | |