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    1504 N Van Ness Ave Fresno, CA 93728

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    Sponsored
    For Sale
    $1,250,000

    MULTI_FAMILY - Fresno, CA

    Property size:
    33,308 SF
    Lot size:
    0.71 Acres
    Days on Market:
    15
    Last Refresh:
    Mar 24 at 1:06 pm

    Property Features for 1504 N Van Ness Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 8, Bathroom 43, Bathroom 40, Bedroom 38, Bathroom 21, Bathroom 13, Bathroom 16, Bathroom 36, Bathroom 10, Bedroom 3, Bedroom 52, Bedroom 53, Bathroom 6, Bathroom 35, Bathroom 51, Bathroom 23, Bedroom 23, Bathroom 41, Bathroom 52, Bedroom 42, Bathroom 38, Bedroom 25, Bathroom 11, Bathroom 26, Bedroom 8, Bathroom 46, Bathroom 17, Bedroom 29, Bathroom 28, Bathroom 47, Bedroom 46, Bathroom 22, Bathroom 33, Bathroom 9, Bathroom 54, Bathroom 4, Bathroom 34, Bedroom 26, Bedroom 51, Bedroom 50, Bathroom 14, Bathroom 2, Bathroom 15, Bedroom 9, Bedroom 20, Bedroom 5, Bedroom 2, Bathroom 32, Bedroom 14, Bedroom 6, Bathroom 25, Bathroom 49, Bathroom 48, Bedroom 7, Bedroom 11, Bedroom 44, Bedroom 54, Bedroom 37, Bedroom 4, Bathroom 44, Bedroom 48, Bathroom 39, Bathroom 12, Bedroom 36, Bedroom 22, Bedroom 39, Bathroom 5, Bedroom 15, Bedroom 34, Bathroom 45, Bedroom 40, Bathroom 29, Bedroom 18, Bathroom 18, Bathroom 19, Bedroom 1, Bedroom 49, Bedroom 19, Bathroom 31, Bathroom 56, Bedroom 10, Bathroom 37, Bedroom 17, Bathroom 42, Bedroom 33, Bedroom 13, Bathroom 7, Bathroom 30, Bedroom 21, Bathroom 53, Bathroom 55, Bathroom 1, Bathroom 24, Bedroom 47, Bathroom 50, Bedroom 43, Bedroom 41, Bedroom 28, Bathroom 3, Bathroom 27, Bathroom 20, Bedroom 32, Bedroom 12, Bedroom 24, Bedroom 27, Bedroom 30, Bedroom 16, Bedroom 31, Bedroom 35, Bedroom 45
    Bedrooms
    54
    Bathrooms
    56
    APN
    45105225
    Parking features
    Covered
    Exterior features
    Stucco
    Size
    33,308 SF
    Lot size
    0.71 Acres

    Building Details

    Floors in Building
    3
    Number of units
    29
    Roof type
    Tar/Gravel, Tile

    We can help!

    Listing Contact
    Eddie Ochoa

    Better Homes and Gardens Real Estate GoldLeaf

    Listing agent Robin Sparks

    Listing date Mar 10, 2026

    MLS# 622497

    Copyright © 2026 Fresno Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Tower District Infill Project

    This is a three-story infill project located in the Tower District, featuring two commercial spaces and 27 apartments, each with two bedrooms and two bathrooms. The property is zoned CMX, allowing for high-density multi-family use. The project benefits from minimal offsite improvements and is still under the 2019 building code, which includes reduced fees (BTV). Building plans, floor plans, and site plans are available upon buyer request. Situated on three lots on N. Van Ness Avenue (1504, 1516, and 1496), this shovel-ready project spans 0.7109 acres. The property size is 33308 square feet. It is located in Fresno, CA 93728. This project presents a great investment opportunity, especially for a 1031 Exchange.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.798626
    Latitude
    36.763306

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    FAQs

    What type of property is this?
    Apartment building - Three-story infill project in Tower District with commercial and residential spaces.
    Where is this apartment building located?
    The property is located at 1504 N Van Ness Ave Fresno, CA.
    What is the asking price?
    The asking price for this property is $1,250,000.
    What are key features of this property?
    This property features: - Shovel-ready project: Permits are ready to be pulled, allowing for immediate construction.; - High-density, three-story infill project in the Tower District.; - Includes 2 commercial spaces and **27 two-bed/two-bath apartments**.
    (559) 244-9899
    Request Owner's contact information
    1504 N Van Ness Ave Fresno, CA 93728
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    Fresno, CA 93728
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1504 N Van Ness Ave Fresno, CA 93728
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    Listing Contact
    Eddie Ochoa
    Real Estate License ID: 01451900
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