4561 E WHITE AVE FRESNO, CA 93702

Features

• Price/sqft: $215
• Lot Size: 0.186 acres
• Total Units: 5
• Stories: 200
• Construction Type: Frame

Facts

• Year Built: 01/01/1960
• Property ID: 895097272
• MLS Number: 610492
• Parcel Number: 454-312-10
• Property Type: Townhouse or Condo
• County: Fresno

Description

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

This listing is NOT a foreclosure. This multifamily deal in Fresno presents an interesting opportunity for investment, particularly because of its involvement with the Fresno Housing Authority and the voucher system.Property: 5-unit apartment complex, all 1 bed 1 bath. Unit A $1205, Unit B $1204 Unit C $1169, Unit D $1136 Unit E $938 Occupancy: 100%, with 4 units on Fresno Housing Authority vouchers.Current Rent: $5, 652/month ($67, 824 annually).Potential Rent: Up to $6, 160/month with a 9.2% increase, considering the maximum Fresno HA voucher amount ($1, 308).Expenses: $13, 455 annually.--As per current expenses stated by the seller.--New buyer may have more or less.Cap Rate: Caprate---$ 54369/620000X 100 = 8.769----Cap rate must be calculated by buyers and buyers agent.Stable Income: The involvement of the Fresno Housing Authority suggests a potentially good rental income, especially with the current 100% occupancy rate.Income Growth Potential: There may be room for rental increases within the Fresno HA voucher limits, which may boost the income and, consequently, the property's value.Low Expenses: The annual expenses are relatively low compared to the gross income, indicating efficient management