16-Unit Apartment
1561 N Van Ness Avenue Fresno, CA 93728
1561 N Van Ness Avenue, Fresno, CA, 93728
$2,600,000
For Sale
$2,600,000
Three-level 16-unit building with studio and 1-bedroom units, including one current vacancy.
Property Size11,668 SF
Price / SF$222.83
Days on Market26
Property Features for 1561 N Van Ness Avenue
General Information
- Standard status
- Active
- Size
- 11,668 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1928
Listing Agency
Real Broker
(559) 349-6208
Listed by
Ian Villalobos Hall · License #DRE #02167144
(559) 349-6208
Source
Exitrealty
Added: Jun 21 Checked: Jul 16 at 7:04 am
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 Real Broker
Investment Insights
Based on property information with market context.
Offered for sale, this well-maintained 16-unit apartment building includes a 3-level layout. The first two levels feature 1 bedroom, 1 bath units, and the third level is comprised of 8 studios. The property is reported to have a newer roof, which is expected to help reduce near-term capital needs.
Located at 1561 N Van Ness Avenue in Fresno, the building is described as being in the Historic District and positioned near Fresno City College and Fresno High School. It also provides convenient access to the Tower District and is noted to have easy connectivity to Highway 41 and Highway 180 for travel throughout the Fresno metro area.
For prospective buyers seeking a small-balance multifamily asset, the current unit mix provides a blend of studio and 1-bedroom product across three floors. The property is reported to have only one current vacancy, with the remainder leased, which may appeal to operators looking for a mostly occupied income stream while they manage ongoing leasing and property upkeep.
Located at 1561 N Van Ness Avenue in Fresno, the building is described as being in the Historic District and positioned near Fresno City College and Fresno High School. It also provides convenient access to the Tower District and is noted to have easy connectivity to Highway 41 and Highway 180 for travel throughout the Fresno metro area.
For prospective buyers seeking a small-balance multifamily asset, the current unit mix provides a blend of studio and 1-bedroom product across three floors. The property is reported to have only one current vacancy, with the remainder leased, which may appeal to operators looking for a mostly occupied income stream while they manage ongoing leasing and property upkeep.
Key Highlights
- Three‑level 16‑unit multifamily building (built in 1928) with 1 current vacancy
- Unit mix: first two levels feature 1 bed/1 bath units; third level features 8 studios
- Recent improvements include a new roof
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $256.2k | $21.96 |
| − Vacancy | −$12.8k | −$1.10 |
| EGI | $243.4k | $20.86 |
| − OpEx | −$109.5k | −$9.39 |
| NOI | $133.9k | $11.47 |
11,668 SF · lease $21.96/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.91M
$1.67M – $2.23M
NOI $133,880 @ 7.0% cap · market cap 5.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.44M
$3.01M – $4.01M
NOI $240,688 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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Western Intellect LLC
Consultant
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FAQs
What type of property is this?
Apartment building - Three-level 16-unit building with studio and 1-bedroom units, including one current vacancy.
Where is this apartment building located?
The property is located at 1561 N Van Ness Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $2,600,000.
What are key features of this property?
This property features: Three‑level 16‑unit multifamily building (built in 1928) with 1 current vacancy; Unit mix: first two levels feature 1 bed/1 bath units; third level features 8 studios; Recent improvements include a new roof
