4561 East White Avenue

Fresno CA 93702

2828 sq. ft.

8102.16 sq. ft.

Multi-Family

Last sold for $610,000

Puneet Bhargava, last sold this property on 02 October 2024 after 285 days on market.

Overview

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 $11082, Unit B $1204 Unit C $1169, Unit D $1214 Unit E $938 Occupancy: 100 % occpancy 4 units on Fresno Housing Authority vouchers.Current Rent: $5607 month ($67284 annually).Potential Rent: Up to $6,160/month with a 9.2% increase, considering the maximum Fresno HA voucher amount ($1,308).Expenses: $13,455 annually.--As per current expenses stated by the seller.--New buyer may have more or less.Cap Rate: Caprate---$ 5400X 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

Features

5 bedrooms

2828 sq. ft. floor area

8102.16 sq. ft. lot size

Multi-Family

Estimated Value

We need at least 3 similar 5 bedroom multi families sold in Fresno over the last 12 months.

Property history for 4561 East White Avenue

2024

Sold

$610,000

02 Oct 2024 by Puneet Bhargava, of Realty Concepts, Ltd

2023

Sold

$430,550

09 Jan 2023

2003

Sold

$150,000

27 May 2003 by Joan Lumpkin, of Handle With Care Properties

Happy sellers in Fresno

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