Fresno Multifamily Investment
For Sale
$4,400,000
1985 N Winery Avenue, Fresno, CA 93703
Multifamily property in Fresno near educational and retail hubs.
Property SizeContact for details
Lot Size0.93 Acres
Days on Market168
Property Features for 1985 N Winery Avenue
General Information
Standard status
Active
Lot size
0.93 Acres
Property subtype
Multi-Family
Lease Type
Net
Building Details
Year Built
1971
Listed By:
Lonnie Work
(559) 696-9675
Source:
Esquaw.idxbroker
Added: Mar 27
Changed: Sep 8
Last Checked: Sep 10 at 5:22AM
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 Lonnie Work
Investment Insights
Based on property information with market context.
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%.
Key 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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,099
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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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
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.
