422 N Glenn Avenue is a $975,000, 5,170 square foot, 8 bedroom, 8.0 bath home on a 0.24 acre lot located in Fresno, CA.
Introducing a prime investment opportunity in the heart of Fresno - an eight-unit apartment complex that seamlessly combines modern amenities with strategic location. Nestled on a sprawling lot exceeding 10,000 square feet, this property boasts three buildings, six garages, and shared backyards for an added appeal. Each of the one-bedroom, one-bathroom units within this complex is equipped with inside laundry hook-ups and dual-pane windows, ensuring convenience and energy efficiency for tenants. The thoughtful upgrades extend to the entire complex, with a full remodel in 2020 and re-roofing of two buildings in 2019. A number of units also feature brand new water heaters, minimizing maintenance concerns. Strategically positioned near downtown Fresno and the vibrant Tower district, residents enjoy easy access to an array of stores, restaurants, and cultural events. The location not only enhances the property's desirability but also contributes to a steady stream of potential tenants. For savvy investors, the enticing capitalization rate hovers just below 5%, with the potential for further growth by adjusting rental rates. With meticulous renovations, contemporary features, and an optimal location, this eight-unit apartment complex presents a rare opportunity to capitalize on Fresno's dynamic real estate market. Don't miss your chance to secure a promising investment with both immediate returns and future appreciation potential.
|Above Grade Sqft
Floor or Wall Unit
Multifamily Special Features - Security Gate
|# Parking Spaces
|Property Sub Type
5 to 15 Units
Based on information from the Fresno Association of Realtors® Multiple Listing Service, last updated 02/20/2024 at 04:08pm MST. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS or this website. The Broker's Offer of Compensation is made only to Participants of the MLS where the listing is filed.