Fresno Multifamily Investment
For Sale
$2,850,000
1223 North Sylmar Avenue, Fresno, CA 93727
Value-add potential with renovated units in a thriving market.
Property Size12,220 SF
Price / SF$233.22
Days on Market557
Property Features for 1223 North Sylmar Avenue
General Information
Standard status
Active
Size
12,220 SF
Property subtype
Multi Family / 5 to 15 Units
Lease Type
Net
Site & Location
Neighborhood
Mclane
Amenities
Central Heat/Cool
Composition
Stucco
Concrete Perimeter
Building Details
Year Built
1971
Listing Agency:
Brendan Kane Real Estate
Listed By:
Brendan L Kane · License #01976828
(559) 289-0698
Source:
Compass
Added: Apr 15, 2025
Changed: Oct 13
Last Checked: Oct 20 at 10:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Brendan Kane Real Estate
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Investment Insights
Based on property information with market context.
Sylmar Apartments, located at 1223 N Sylmar Ave, Fresno, California 93727, presents an investment opportunity with value-add potential. All units are renovated and ready for increased rents. The property features spacious 2-bedroom, 1-bath units, each offering 940 sq ft of living space and private patios or balconies. Recent updates include new fencing and exterior paint. Situated in a desirable in-fill location, this property offers upgraded income potential. The multifamily market is thriving, with rent growth surpassing state and national averages. Common amenities include covered parking and a pool. This property is an appealing asset for investors looking to capitalize on market trends.
Key Highlights
- Value‑add potential with renovated units ready for increased rents.
- Desirable in‑fill location.
- Spacious 2‑bedroom, 1‑bath units with 940 sq ft of living space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$131,213
Cap Rate
4.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,624,260
$2.6M
Cap Rate 7%
$1,874,471
$1.9M
Cap Rate 9%
$1,457,922
$1.5M
Market Conditions
NOI Build-Up for 12,220 SF
Gross rent
$249.3K $20.40/SF
− Vacancy
−$10.7K −$0.88/SF
EGI
$238.6K $19.52/SF
− OpEx
−$107.4K −$8.79/SF
NOI
$131.2K $10.74/SF
Area
ZIP 93727
Vacancy
4.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,624,260
Cap Rate 7%
$1,874,471
Cap Rate 9%
$1,457,922
Alternative Uses
Best Use
Apartment 5plus
$1.87M
$1.64M – $2.19M
NOI $131,213 @ 7.0% cap · market cap 4.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.46M
$3.03M – $4.04M
NOI $242,442 @ 7.0% cap · market cap 8.51%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
Explore this area
Business Placement
Demographics for 93727, CA
83,212
Population
25,919
Households
3.2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
22.0 sq mi
ZIP Area
3,782
Density / Sq Mi
$82,247
Median Household Income
$42,002
Median Earnings
$1,277
Median Rent
$370,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Value-add potential with renovated units in a thriving market.
Where is this apartment building located?
The property is located at 1223 North Sylmar Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: Value‑add potential with renovated units ready for increased rents.; Desirable in‑fill location.; Spacious 2‑bedroom, 1‑bath units with 940 sq ft of living space.
