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Realty Point, Inc.

admin@realtypoint.net +1(916) 936-3930

$900,000

Est. payment - /mo

2,016 SqFt

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Key Details

Property Type Multi-Family

Sub Type Duplex

Listing Status Active

Purchase Type For Sale

Square Footage 2,016 sqft

Price per Sqft $446

MLS Listing ID 226077889

HOA Y/N No

Year Built 1956

Lot Size 0.344 Acres

Acres 0.3444

Lot Dimensions 120x125

Property Sub-Type Duplex

Source MLS Metrolist

Property Description

Fresno State campus-adjacent investment opportunity with substantial value-add upside. Fully renovated turn-key duplex directly across the street from California State University, Fresno (~25,000 students), currently producing $56,160 annual gross rent on a by-the-room student rental model ($780/month per room, 5 of 6 currently leased). The strategic value here is in the entitled redevelopment optionality. Corridor/Center Mixed-Use (CMX) zoning on a 15,000 SF parcel Fresno removed the dwelling-unit density cap in mixed-use zones in 2022, opening the door to additional multifamily in the rear, ground-floor commercial uses targeting the captive student market, or expanded student housing. The lot is the canvas. Offered with CITY-APPROVED expansion plans (Permit B24-13708) adding 4 bedrooms and 2 bathrooms via garage conversion plus nook additions and a new 540 SF carport. Stabilized proforma: 10 rooms, $93,600 gross / 5.31% cap on list. Full architectural plans, structural engineering, and energy compliance forms transfer with the property approximately $120K in soft costs already paid by seller, eliminating 6-12 months of entitlement work for the buyer. Built 1956, fully renovated. Automatic security gate, fully fenced. Operating expenses remarkably lean. Cash or DSCR loan preferred. Showings by appointment only with 24-hour notice required (tenant-occupied).

Location

State CA

County Fresno

Area 24000

Direction From Hwy 41, exit Shaw Ave east. Continue east on Shaw, turn south on Cedar Ave, turn east on Sierra Madre Ave. Property on north side of street directly across from Fresno State.

Rooms

Other Rooms Unit-1 Occupancy: Tenant Unit-2 Bedrooms: 3 Full Baths: 1

Interior

Heating Central

Cooling Central

Flooring Laminate

Appliance Dishwasher, Microwave, Free Standing Electric Oven

Laundry In Common Area

Exterior

Parking Features Attached, Garage

Utilities Available Other

Water Access Desc Meter on Site

Building

Lot Description Other

Foundation Concrete

Sewer Public Sewer

Water Meter on Site

Level or Stories One

Schools

Elementary Schools Fresno Unified

Middle Schools Fresno Unified

High Schools Fresno Unified

School District Fresno

Others

Senior Community No

Tax ID 430-090-11

Special Listing Condition Real Estate Owned

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Listed by The Mohan Group

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Realty Point, Inc.

+1(916) 936-3930

Real Estate Brokerage | CA DRE#02212763

Real Estate Brokerage CA DRE#02212763

4563 4563 E Sierra Madre Ave Fresno, CA 93726

Realty Point, Inc.

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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