100% occupied 5 Unit Multi-Family Apartment complex on 0.17 Acres of land. Property consists of one two story building with (5) separately-metered units that totals 3,900 SF. All (5) units include 2 Bed/1 Bath (760 SF), private entrances, separately metered for gas/electricity, and has access to on-site laundry. Each lease term is 1-year and is now month to month, requiring tenants to pay their own utility & hot water, separate gas & electric meter. With Fresno City College across the street, this property offers a prime opportunity to attract college students as tenants, ensuring a steady stream of potential renters.The value-add opportunity consists of addressing the under-market rent of the (5) tenants, extending lease length over the next 6-12 months. Value-add opportunity with actual rents of $59,400/year collected plus upside potential. After remodeling the units and addressing the slightly under-market rents, the realistic stabilized gross annual income is $91,800. Unique investment offering easy-to-rent small spaces within an under-built market offering a strong need for these type of units. Once stabilized, the deal offers a 8.72% CAP rate.
Property Details
Property Features
Property Information:
Year Built: 1966
Stories: 2
Living Area: 3,900 SqFt
Listing Office:
Office Name: Century 21 Jordan-Link & Company
Listing Agent: Timothy Niehoff
Interior Features
Interior Information:
Fireplace: None
Bedroom and Bathroom Information:
Total Bedroom Count: 10
Exterior Features
Parking Information:
Parking: Carport
Lot Features
Lot Information:
Lot: Corner Lot
Lot Size: 0.17 Acres
Utilities
Utilities Information:
Heating: Central
Cooling: Central Air
School Info
Assigned Schools Information:
Fresno High School, Public Magnet Grades 9-12
Fort Miller Middle School, Public District Grades 7-8
Heaton Elementary School, Public District Grades KG-6
Other
Directions Information:
Directions: Heading north on N Blackstone Ave, left on E Cambridge Ave, right on N Glenn Ave, property on right hand side.
Price Information
Listing Price Info
Price Summary:
List Price: $595,000
Price Per SqFt: $153/SqFt
Tax Information:
Annual Amount: $3,389
Tax Year: 2021
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Housing Market Comparison
See how this home compares to others in Fresno, CA.
This property is $205K more than the Median Sold Price and $94/SqFt less than other homes in Fresno, CA.
Based on homes sold in the last 12 months
MLS Details
MLS Information:
MLS Name: Fresno Multiple Listing System
MLS Number: #618976
Listing Office:
Office Name: Century 21 Jordan-Link & Company
Listing Agent: Timothy Niehoff
Based on information from the Fresno Association of REALTORS® (alternatively, from the Fresno MLS). 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. The information being provided is 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.
Copyright 2024 Fresno Association of Realtors. All rights reserved. Data displayed may be a portion of, and not a complete set of all listings published in the MLS. Last updated on: 10/27/2024, 8:20:49 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Property Sales & Tax
Listing History
DATE
EVENT
PRICE
Jan 08, 2020
Jan 08, 2020Home Sold
$400,000
Feb 19, 2016
Feb 19, 2016Home Sold
$237,500
Oct 11, 2011
Oct 11, 2011Home Sold
$240,000
Oct 11, 2002
Oct 11, 2002Home Sold
$200,000
May 10, 2002
May 10, 2002Home Sold
$133,000
Tax History
YEAR
PROP. TAX
ASSESSMENT
2021
$3,389
$404,143
2020
$3,388
$257,076
2019
$3,192
$252,036
2018
$3,193
$247,095
2017
$2,983
$242,250
History based on county public records data.
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Schools
Schools Nearby
The school rating is a score out of 10, where 10 is the highest and 1 is the lowest. Assigned schools have a bold outline.
Elementary School
2
/10
Heaton Elementary School
1533 N San Pablo Ave
Distance between this listing and this school0.42 miles
Public District Grades KG-6
Middle School
2
/10
Fort Miller Middle School
1302 E Dakota Ave
Distance between this listing and this school1.18 miles
Public District Grades 7-8
High School
3
/10
Fresno High School
1839 N Echo Ave
Distance between this listing and this school0.64 miles
Public Magnet Grades 9-12
Assigned Schools
2
/10
Heaton Elementary School
1533 N San Pablo Ave
Distance between this listing and this school0.42 miles
Public District Grades KG-6
Nearby Schools
7
/10
Susan B. Anthony Elementary School
1542 E Webster Ave
Distance between this listing and this school0.95 miles
Public District Grades KG-6
5
/10
Morris E. Dailey Charter Elementary School
3135 N Harrison Ave
Distance between this listing and this school1.18 miles
Public Charter Grades KG-5
Assigned Schools
2
/10
Fort Miller Middle School
1302 E Dakota Ave
Distance between this listing and this school1.18 miles
Public District Grades 7-8
Nearby Schools
4
/10
Hamilton Elementary School
102 E Clinton Ave
Distance between this listing and this school0.99 miles
Public Magnet Grades KG-8
2
/10
Tehipite Middle School
630 N Augusta St
Distance between this listing and this school1.44 miles
Public District Grades 6-8
Assigned Schools
3
/10
Fresno High School
1839 N Echo Ave
Distance between this listing and this school0.64 miles
Public Magnet Grades 9-12
Nearby Schools
10
/10
Design Science Early College High School
2004 E Cambridge Ave
Distance between this listing and this school0.28 miles
Public Magnet Grades 9-12
2
/10
Dewolf Continuation High School
2021 N Clark St
Distance between this listing and this school0.33 miles
The neighbors living near this home have an average income of $25,345. The most common annual income of people living in Fresno, CA is less than $35k. Residents typically live in single, no kids family. Residents of this area typically have post secondary degree education.
This home is located at 2118 N Glenn Ave in Fresno, CA and zip code 93704 in the Fresno High-Roeding neighborhood. This 3,900 square foot home, which was built in 1966, sits on a 0.17 acre lot. Features: 10 bedrooms, 5 bathrooms. It has been listed on Rocket Homes since September 25, 2024 and is currently priced at $595,000.
Over 96 listings were sold over their listed price in September 2024 in Fresno, CA. In the same period over 102 listings were sold below the listed price and 80 listings were sold for the listed price. The inventory of homes for sale in Fresno, CA between August 2024 and September 2024 increased by 0.8%. In September 2024, listings were on the market for 26 days. During the same period, the median list price in this real estate market was $389,967.
From Rocket Homes Real Estate and based on county public records data.