Fresno Multifamily Investment
1985 N Winery Avenue, Fresno, CA 93703
Multifamily property in Fresno near educational and retail hubs.
Type:Multifamily
Lot size:
0.93 Acres- Added:
- Mar 14, 2026
- Days on Market:
- 60
- Last Refresh:
- Mar 19 at 10:47 pm
Property Features for 1985 N Winery Avenue
General Information
- Standard status
- Active
- Lot size
- 0.93 Acres
- Property subtype
- Multifamily
Building Details
- Year Built
- 1971
Listing agent Brendan Kane License ##00583537
Listing office Northmarq
Listing date Mar 14, 2026
Source Crexi
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 Northmarq
HighLights
- Significant upside potential: increase rents by nearly 14% through strategic interior modernization.
- Prime Fresno location: near California State University, Fresno and Fresno City College.
- Strong multifamily market: resilient Fresno market with continued rent appreciation forecasts.
- Desirable unit mix: 92% of units are spacious two‑bedroom floor plans.
- Compelling yield profile: attractive entry point with a projected Pro Forma Cap Rate of 6.98% and a Cash‑on‑Cash return of 7.30%.
- Dynamic regional economy: Fresno serves as the economic heart of the Central Valley.
Overview
Villa Capri presents an investment opportunity through a modernization program. Current average rents are $1,318 per unit, below market rents of $1,501+. Strategic renovation of kitchens, bathrooms, and flooring may allow a new owner to reposition the asset and increase the Net Operating Income (NOI). The property is located at 1985 N Winery Ave, near California State University, Fresno, and Fresno City College. The Fresno multifamily market shows performance with asking rents in the Central Valley growing by 1.8% annually, with appreciation indicated through 2026. Villa Capri is positioned to benefit from the region’s undersupply of rental housing. Fresno serves as the economic heart of the Central Valley, adding 7,600 new jobs. The local economy is supported by healthcare, education, and a logistics sector anchored by Amazon, Target, and Walmart. The expansion of the Fresno Yosemite International Airport (FAT) solidifies the area as a hub for commerce and travel, driving household formation and rental demand. Villa Capri features a unit mix, with 92% of the property comprised of two-bedroom floor plans. The two-building, garden-style layout is on a 0.93-acre site. Offered at $4,400,000 ($157,143/unit), Villa Capri provides an entry point with a projected Pro Forma Cap Rate of 6.98% and a Cash-on-Cash return of 7.30%.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Villa Capri Apartments
Apartment Complex
Location Insight
- Map
- Local Demand
- City
- Fresno
- County
- Fresno
- State
- California
- Longitude
- -119.732343
- Latitude
- 36.768391
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Multifamily property in Fresno near educational and retail hubs.
Where is this apartment building located?
The property is located at 1985 N Winery Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $4,400,000.
What are key features of this property?
This property features: Significant upside potential: increase rents by nearly 14% through strategic interior modernization.; Prime Fresno location: near California State University, Fresno and Fresno City College.; Strong multifamily market: resilient Fresno market with continued rent appreciation forecasts.
