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6035 N College Ave

4 Unit Apartment Building $1,430,183 CAD ($357,546 CAD/Unit) 6% Cap Rate Fresno, CA 93704

Investment Highlights

  • Quiet cul de sac near Fig Garden Village and Riverpark
  • Private patios
  • Large 2/2 with 1,320ft2; extra room that doubles as a 3rd bedroom with closet and doors

Executive Summary

Spacious 2 bedroom, 2 bath, 1,320ft2 units with private/covered patio, extra room that doubles as an additional bedroom (closet, doors). Typically rented as 3/2s. 100% occupied, quiet area near Old Fig and Riverpark. On-site laundry, with key-code access. Monthly rents are $6835, annual rents are $82,020. Over the past year all four units have been updated with new paint, new appliances, new electrical outlets/lighting/fans/vents, new hardware, mostly new flooring, new bathroom fixtures/toilets, new garbage disposals. Also, the roof/carport was recoated 10/15/24, all units have new GE electrical subpanels, new carport rain gutters, new hvac condensation lines. Professionally managed. Loan is non-assumable. Professional photos to be upload Friday afternoon. The buyer(s) will be required to participate in the sellers' 1031 exchange at no costs to the buyer(s).
Agent Remarks: Please do not disturb tenants or walk the grounds, tenants are unaware of the sale. Submit offer subject to walk through inspection, with copy of recent POF as well as letter from lender or proof of cash. Rents in MLS are correct at time of listing and may be subject to change. Seller is a California licensed real estate salesperson and has ownership in the property.

Financial Summary (Actual - 2024)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $117,893 $22.29
Other Income - -
Vacancy Loss - -
Effective Gross Income $117,893 $22.29
Taxes - -
Operating Expenses - -
Total Expenses $21,957 $4.15
Net Operating Income $95,936 $18.14

Financial Summary (Actual - 2024)

Gross Rental Income (CAD)
Annual $117,893
Annual Per SF $22.29
Other Income (CAD)
Annual -
Annual Per SF -
Vacancy Loss (CAD)
Annual -
Annual Per SF -
Effective Gross Income (CAD)
Annual $117,893
Annual Per SF $22.29
Taxes (CAD)
Annual -
Annual Per SF -
Operating Expenses (CAD)
Annual -
Annual Per SF -
Total Expenses (CAD)
Annual $21,957
Annual Per SF $4.15
Net Operating Income (CAD)
Annual $95,936
Annual Per SF $18.14

Property Facts

Price $1,430,183 CAD
Price Per Unit $357,546 CAD
Sale Type Investment
Cap Rate 6%
Sale Conditions 1031 Exchange
No. Units 4
Property Type Multifamily
Property Subtype Apartment
Apartment Style Garden
Lot Size 0.29 AC
Building Size 5,289 SF
Average Occupancy 100%
No. Stories 1
Year Built/Renovated 1970/2024

Site Amenities

  • Laundry Facilities

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+2 4 - -

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
407-391-40
Land Assessment
$186,027 CAD (2023)
Improvements Assessment
$742,644 CAD (2023)
Total Assessment
$928,671 CAD (2023)

zoning

Zoning Code R2A
R2A
  • Listing ID: 34244527

  • Date on Market: 2024-12-19

  • Last Updated:

  • Address: 6035 N College Ave, Fresno, CA 93704

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