Listed by Northmarq
$3,075,000
Barcelona Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 21,406
Units 22
Cap Rate 4.84%
NOI $155,230
Occupancy 100%
Pro-Forma Cap Rate 6.17%
Pro-Forma NOI $198,044
Price per SqFt $150
Year Built 1969
Buildings 10
Acreage 1.380
Zoning R3
Investment Type Value Add
2910-2920 E. Huntington Blvd, Fresno, CA 93721
Investment highlights
- Strategic central fresno location: situated at 2910-2920 e. Huntington blvd with immediate access to ca-41, ca-168, and ca-180, providing excellent connectivity to regional employment hubs.
- Attractive acquisition basis: offered at $3,207,000 ($145,773/unit; $150/sf), representing a competitive entry point relative to recent fresno and clovis multifamily trades.
- Stable cash flow with upside: currently 100% occupied with a 4.84% cap rate and clear "mark-to-market" potential as in-place rents ($1,420 avg) trail market competitors ($1,455+ avg).
- Low-density residential profile: a 22-unit community featuring 10 single-story buildings on a 1.38-acre site, offering a quiet, high-demand environment for workforce renters.
- Versatile unit mix: includes a functional blend of 1br, 2br, and 3br floor plans with a generous average unit size of 973 sf and the benefit of in-unit laundry hookups.
- Proximity to major anchors: located near fresno state university (24,000+ students), fresno city college, and the fashion fair mall, ensuring a consistent pipeline of tenant demand.
- Value-add potential: opportunity to drive noi growth through light-touch interior cosmetic upgrades and standardized management of contract services and utilities.
- Strong submarket fundamentals: positioned in a supply-constrained rental market with a 98% average submarket occupancy and diverse economic drivers in healthcare and education.
- Submarket: Huntington
Listing Contacts
Listed by Northmarq
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$155,230.00
$12,935.83/mo
Valuation Metrics
0
DSCR
5.05%
Cap Rate
5.05%
ROI
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Name
License
Brokerage
Brokerage Phone
Is there information that looks off?
