18-Unit Apartment
1244 N Millbrook Ave, Fresno, CA 93703
For Sale
$2,880,000
Building-wide window replacement and cooling-system updates complement two renovated residences.
Property Size12,256 SF
Price / SF$234.99
Days on Market12
Property Features for 1244 N Millbrook Ave
General Information
Standard status
Size
Property subtype
Site & Location
Neighborhood
Additional Details
Multifamily Units
Listing Agency:
Realty Unlimited Group
(559) 221-3170
Listed By:
Amanda Santana · License CA #01939176
(559) 283-9850
Source:
Exprealty
Added: Oct 30
Changed: Nov 7
Last Checked: Nov 8 at 6:27AM
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 Realty Unlimited Group
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Investment Insights
Based on property information with market context.
This 18-unit apartment property contains 12,256 square feet. All windows have been replaced, and ten swamp coolers were changed out within the last few months. Two apartments were renovated after a fire. Updated front landscaping includes drought-resistant plants.
Key Highlights
- 18 apartments totaling 12,256 square feet
- Windows replaced throughout the property
- Ten swamp coolers replaced within the last few months
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$140,627
Cap Rate
4.88%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,812,540
$2.8M
Cap Rate 7%
$2,008,957
$2.0M
Cap Rate 9%
$1,562,522
$1.6M
Market Conditions
NOI Build-Up for 12,256 SF
Gross rent
$269.1K $21.96/SF
− Vacancy
−$13.5K −$1.10/SF
EGI
$255.7K $20.86/SF
− OpEx
−$115.1K −$9.39/SF
NOI
$140.6K $11.47/SF
Area
Fresno, CA
Vacancy
5.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,812,540
Cap Rate 7%
$2,008,957
Cap Rate 9%
$1,562,522
Alternative Uses
Best Use
Apartment 5plus
$2.01M
$1.76M – $2.34M
NOI $140,627 @ 7.0% cap · market cap 4.88%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.61M
$3.16M – $4.21M
NOI $252,817 @ 7.0% cap · market cap 8.78%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Lease Details
18
Residential units
Location Intelligence
Trade Area within ½ mile
782
Businesses Nearby
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Business Placement
Demographics for 93703, CA
34,840
Population
11,155
Households
3.1
Avg Household Size
31
Median Age
9%
College-Educated
72%
High-School Grad
4.8 sq mi
ZIP Area
7,258
Density / Sq Mi
$43,236
Median Household Income
$30,359
Median Earnings
$1,204
Median Rent
$250,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Fresno, CA
Properties on Market for Apartment buildings in Fresno
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Building-wide window replacement and cooling-system updates complement two renovated residences.
Where is this apartment building located?
The property is located at 1244 N Millbrook Ave Fresno, CA.
What is the asking price?
The asking price for this property is $2,880,000.
What are key features of this property?
This property features: 18 apartments totaling 12,256 square feet; Windows replaced throughout the property; Ten swamp coolers replaced within the last few months
