3109 North Thorne Avenue

Fresno CA 93704

17472 sq. ft.

26323.31 sq. ft.

Multi-Family

Last sold for $1,850,000

Dustin Ilic, last sold this property on 03 April 2026 after 108 days on market.

Overview

16-Unit Complex - All 2 Bed 1.5 Bath Townhomes - Strong Value-Add Opportunity Current rents are approximately 45% below market, presenting a compelling opportunity to unlock substantial upside in revenue, cash flow, and overall asset value. Investors can drive income growth through natural lease turnover, light interior improvements, and by reactivating the on-site laundry room to capture additional ancillary income.Desirable, High-Demand Unit Mix: The property consists entirely of 2-bedroom / 1.5-bath townhomes, each over 1,100 SF - a unit type in high demand among families and long-term renters. These larger floorplans tend to attract strong tenants, reduce turnover, and maximize occupancy and net operating income while minimizing annual turnover expenses. Prime Central Fresno Location with High Renter Demand:Ideally located across from Dailey Elementary Charter School and within 1.5 miles of FresnoHigh School and Fresno City College, the property is well-suited for families and students. It is also within 2 miles of the Tower District and 2.5 miles of Fig Garden Village - two of Fresno's top dining, retail, and lifestyle corridors. These location advantages contribute to strong, consistent renter demand and support long-term value growth.Minimal Near-Term CapEx with Recent Improvements: Major capital improvements have already been completed, including a newly repaved parking lot in 2024, annual roof servicing, and electrical subpanel upgrades in most units. The property has been maintained and presents minimal short-term capital expenditure risk, giving investors the ability to focus on revenue growth from day one.

Features

32 bedrooms

17472 sq. ft. floor area

26323.31 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 32 bedroom multi families sold in Fresno over the last 12 months.

Property history for 3109 North Thorne Avenue

2026

Sold

$1,850,000

03 Apr 2026 by Dustin Ilic, of Visintainer Group

Happy sellers in Fresno

We have insufficient information to provide an overview of customer satisfaction for Fresno. Viewing the agent profiles, reviews and sales for Fresno can provide insights for this location.