

Listed by Kirklen Investment Group
$8,750,000
119-35 S Fahrion Place
Details
APN 03717315
Property Type Multifamily
Sub Type Apartment Building
Units 32
Cap Rate 5.23%
NOI $457,523
Buildings 4
Acreage 0.730
Zoning Assessor
Multifamily | 5.23% CAP | 32 Units
Marketing description
The Courtyard Apartments is a 32-unit apartment property offering a rare opportunity to acquire a sizeable multifamily asset comprised of four separate, but contiguous 8-unit buildings. Built in 1959, the property features a clean and efficient unit mix of all one-bedroom, one-bathroom units, making it well-positioned to serve a broad renter base seeking functional and affordable apartment living. The two-story buildings are improved with pitched roofs, providing both architectural character and long-term ownership appeal. The property also benefits from 32 open surface parking spaces, offering one parking space per units, in addition to ample street parking due to the surrounding lower-density neighborhood. This parking availability is a meaningful advantage for residents and enhances the overall tenant experience. A key operational feature of The Courtyard Apartments is the existing on-site laundry facilities, which provides residents with added convenience while creating an additional income stream for ownership. Further upside exists through the existing washer and dryer hookups already located inside each unit, allowing a new owner the potential to implement in-unit laundry options over time to further enhance tenant appeal and support future rent growth. With its desirable all one-bedroom unit mix, four contiguous 8-unit buildings, ample parking, pitched roofs, on-site laundry, and additional operational upside through existing in-unit washer and dryer hookups, The Courtyard Apartments represents a compelling investment opportunity with strong fundamentals and meaning
Listing Contacts


Listed by Kirklen Investment Group
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$457,523.00
$38,126.92/mo
Valuation Metrics
0
DSCR
5.23%
Cap Rate
5.23%
ROI
Map
Zoning
RM-4 ResidentialMulti FamilyMultiple Family Residential
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View all 61 uses Last updated May 18, 2026 For deeper zoning details, reports are available at Zoneomics
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