5145 E Lane Ave - Apartments FOR SALE


Fresno, CA 93727
$2,950,000 USD
559-288-8803
5145 E Lane Ave, Fresno, CA for Sale
$2,950,000 USD
Apartments - FOR SALE
1/14
null | Request Cap Rate

5145 E Lane Ave
Fresno, CA 93727


HIGHLIGHTS

  • EXCELLENT COLLECTION OF 17 CONDOMINIUM RENTALS WITHIN A LUXURY COMMUNITY
  • UNIT FEATURES INCLUDE WASHER/DRYER HOOKUPS, GARAGES AND FIREPLACES
  • COMMUNITY HAS TWO POOLS, FITNESS CENTER AND AMPLE OPEN SPACE

OVERVIEW

** PRICE CHANGE*** Northmarq is pleased to announce that it has been retained as the exclusive listing agent for the sale of the La Hacienda Condo Portfolio, a collection of 17 units located within a Condominium Community located in the Sunnyside submarket in Fresno, California. This property provides the right investor an opportunity to acquire a turnkey asset in one of the nation’s hottest submarkets. 100% OCCUPIED WITH RENTAL UPSIDE The Portfolio 100% occupied, providing investors an opportunity to enhance yield in the near term with a slight rental increase and full recovery of loss-to-lease. Currently, there is a in-place loss-to-lease of 3.4%. ATTRACTIVE UNIT MIX OF 2 BEDROOM UNITS WITH WASHER / DRYER HOOKUPS AND AN AVERAGE SQUARE FOOTAGE OF 883 SF The Portfolio features 10 two bedroom / One Bath units at 819 Square feet, 5 two bedroom two bath units at 912 square feet, 1 three bedroom one bath unit at 1000 square feet and a three bedroom two bath unit at 1,250 square feet. Average size is 883 square feet. The units features in-unit washer / dryers and hookups, garages, patios/balconies and ample storage. LA HACIENDA COMMUNITY FEATURES There are two sparkling pools, fitness center and controlled access. MINUTES TO FRESNO PACIFIC UNIVERSITY & CENTRAL BUSINESS DISTRICT Near multiple shopping centers and HWY 180 with easy access to junction to HWY 168 and 41 LONG-TERM OWNER The current owner has owned the units since 2004. GROWING LOGISTICS HUB Led by Amazon, the Central Valley is rapidly becoming a prime distribution and logistics HUB for the Western US. Due to Fresno’s location in the middle of the Valley it is primed to continue to benefit from this trend with strong job growth.

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$65 USD /SF

# OF UNITS

17

PRICE/UNIT

$173,529

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

La Hacienda

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1988

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

-

APN/PARCEL ID

472-380-27,472-380-28,472-380-29,472-380-30,472-380-31,472-380-32,472-380-33,472-380-34,472-380-35,472-380-36,472-380-37,472-380-38,472-380-39,472-380-40,472-380-41,472-380-42,472-380-43,472-380-44,472-380-45,472-380-46,472-380-47,472-380-48,472-380-49,472-380-50,472-380-51,472-380-52,472-400-36,472-400-37,472-400-38,472-400-39,472-400-40,472-400-41,472-400-42,472-400-43,472-400-44,472-400-45,472-400-46,472-400-47,472-400-48,472-400-49,472-400-50,472-400-51,472-400-52,472-400-53,472-400-54,472-420-53

ASK ABOUT THIS PROPERTY

Robin KaneNorthmarqMore Info
559-288-8803

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Robin KaneNorthmarqMore Info
559-288-8803

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.