Listed by Fortune Associates
$1,100,000
7089 North Howard Street
Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,600
NOI $43,601
Occupancy 80%
Tenancy Multi
Pro-Forma Cap Rate 5.60%
Pro-Forma NOI $61,596
Year Built 1978
Multifamily | $220,000/unit
Marketing description
7089 North Howard Street presents a rare opportunity to acquire a fully occupied 5-unit multifamily asset in North Fresno. Built in 1978, the property comprises five spacious 2BD/1BA units at 1,120± SF each (5,600± SF total). All units have been renovated with new LVP flooring, updated kitchens with granite countertops, and refreshed bathrooms.
Investment highlights
- Fully Renovated Units: All five units feature new LVP flooring, updated kitchens with granite countertops, refreshed bathrooms with modern vanities—minimizing near-term capital needs.
- Rental Upside Opportunity: Proforma rents of $102,000/yr exceed 2025 actuals by ~$12,800, reflecting a repositioning to $1,700/unit market rents across all five units.
- Turnkey Investment: With estoppels executed, renovations complete, and four of five units occupied, this is a near-day-one cash-flowing asset —ideal for a 1031 exchange buyer or passive investor.
- 80% Occupied: Four of five units are occupied by tenantscurrent on rent, each with an executed estoppel certificate on file. The vacant unit offers a buyer immediate upside to lease at market rent.
- North Fresno Location: Located in one of Fresno's most desirable residential corridors, near top-rated schools, major retail, and employment centers with strong tenant demand.
- Attractive Basis: At $210,000 per unit and a 10.29x GRM on proforma rents, the property offers a competitive entry point relative to recent North Fresno multifamily trades.
Listing Contacts
Listed by Fortune Associates
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$43,601.00
$3,633.42/mo
Valuation Metrics
0
DSCR
3.96%
Cap Rate
3.96%
ROI
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Zoning
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