Listed by Northmarq
$4,250,000
Channel Breeze Apartments
Details
Property Type Multifamily
Sub Type Apartment Building
Net Rentable (SqFt) 24,360
Units 30
Cap Rate 4.26%
NOI $181,261
Occupancy 100%
Pro-Forma Cap Rate 5.90%
Pro-Forma NOI $250,864
Price per SqFt $174
Year Built 1984
Buildings 4
Acreage 1.180
Zoning R3
Investment Type Value Add
125 E. Dakota Ave, Fresno, CA 93704
Investment highlights
- Compelling Value-Add Opportunity: Channel Breeze offers significant upside through interior renovations and operational improvements. Current inplace rents average $1,105, while market rents for similar units in the area are $1,325, presenting a clear path to increased income and asset value.
- Prime Northwest Fresno Location: Located in the highly desirable Old Fig Garden submarket, Channel Breeze is surrounded by some of Fresno's most prestigious retail and lifestyle destinations, including Fig Garden Village, River Park, and Fashion Fair Mall.
- Park-Like Setting with Lifestyle Amenities: The property features lush landscaping, mature trees, and open green spaces, creating a tranquil, park-like environment.
- Excellent Curb Appeal and Visibility: Situated near the intersection of Dakota and Palm Avenues, Channel Breeze enjoys high visibility and easy access to major thoroughfares.
- Strong Historical Occupancy and Tenant Profile: The property has demonstrated stable occupancy and attracts quality tenants, supported by its gated entrance and secure environment.
- Dynamic Fresno Market Fundamentals: Fresno is a vibrant, growing city with a diverse economy, strong population growth, and a median household income of $62,021 within five miles of the property.
- Submarket: Maroa
Listing Contacts
Listed by Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$181,261.00
$15,105.08/mo
Valuation Metrics
0
DSCR
4.26%
Cap Rate
4.26%
ROI
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