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2118 Glenn Avenue N, Fresno, CA 93704

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For Sale

$650,000

10 beds • 5 baths • 3,900 sqft

Estimated Payment

$      /mo. †

APR for 30 years

Change Loan Terms

  • Other Residential
    Property type

  • Newly Listed
    Time on Century 21

  • $166.67
    Price per square foot

  • Over 50 Years Old
    Age

Explore this Property

100% occupied 6 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.
MLS# 618976

Courtesy Of Century 21 C Watson

(559) 432-1221

Property Features

  • Age
    Over 50 Years Old
  • Amenities
    Dock
  • Architecture Style
    Other
  • Lot Size
    0.17 Acres

Map and Directions

Directions to 2118 Glenn Avenue N, Fresno, CA 93704

Home seller CENTURY 21 Jordan-Link & Company

Get to know the neighborhood. A local affiliated CENTURY 21 office will help you set up tours, give advice, and negotiate with sellers.

CENTURY 21 Jordan-Link & Company

(559) 432-1221
Learn More About Us

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Copyright © 2024 Fresno Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified. 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. 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.

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This information is provided for general informational purposes only and should not be relied on in making any home-buying decisions. School information does not guarantee enrollment. Contact a local real estate professional or the school district(s) for current information on schools. This information is not intended for use in determining a person's eligibility to attend a school or to use or benefit from other city, town or local services.

† Based on a 30-year fixed rate of 3.38% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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