Listed by Northmarq
$7,100,000
Alamos Gardens
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 38,530
Net Rentable (SqFt) 38,530
Units 59
Cap Rate 6.15%
NOI $436,326
Occupancy 96%
Tenancy Multi
Pro-Forma Cap Rate 5.24%
Pro-Forma NOI $371,756
Price per SqFt $184
Class B
Year Built 1973
Buildings 8
Acreage 2.040
Zoning R3
Parking Spaces 85 spaces
Parking Per SqFt 2.21
Investment Type Value Add
Multifamily | 6.15% CAP | 59 Units
Marketing description
Alamos Gardens is a 59-unit apartment community offered exclusively by Northmarq — a rare opportunity to acquire a stabilized, income-producing asset with meaningful upside in one of California's fastest-growing rental markets.
Investment highlights
- Strong in-place occupancy minimizes lease-up risk from day one. Rents are currently below market, offering investors a clear path to enhanced yield through modest rate adjustments and full recovery of loss-to-lease — with no heavy lifting required.
- Nearly half the community — 29 units — had been renovated with resurfaced countertops, refinished cabinetry, new appliances, modern fixtures, and two-tone paint, already commanding a premium. The remaining units represent a clear, executable path to additional NOI growth.
- The property fronts Peach Avenue with over 11,500 vehicles per day — exceptional visibility that supports long-term demand. Residents are within 1.5 miles of The Center Clovis, Sierra Vista Mall, and Sierra Pavilions, putting premier retail, dining, and services at their doorstep.
- Situated in one of Clovis's most sought-after neighborhoods, Alamos Gardens is served by top-ranked schools — Alta Sierra Intermediate, University High, and Buchanan High — a powerful draw for family renters and a proven driver of occupancy stability. California State University, Fresno is just 7 minutes away, broadening the renter pool further.
- The community sits 10 minutes from Clovis Unified School District (5,100+ employees) and 11 minutes from Clovis Community Medical Center (1,700+ employees) — two recession-resilient employers anchoring steady renter demand. Walmart, Big Lots, Taco Bell, and more are within walking distance, adding everyday convenience that renters value.
Listing Contacts
Listed by Northmarq
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$436,326.00
$36,360.50/mo
Valuation Metrics
0
DSCR
6.15%
Cap Rate
6.15%
ROI
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