Updated Duplex with Private
For Sale
$395,000
2908 E Terrace Avenue, Fresno, CA 93703
Two separately metered residential units, each with a private garage and backyard, with recent updates throughout.
Days on Market17
Property Features for 2908 E Terrace Avenue
General Information
Standard status
Active
Total Parking Spaces
2
Property subtype
Multi Family Home
Additional Details
Multifamily Units
2
Building Details
Building Size
1,710 SF
Year Built
1952
Tenancy
Multi
Listing Agency:
Golden View Realty
(559) 978-8877
Listed By:
Celso Romero
(559) 978-8877
Source:
Coalingamidstaterealty
Added: Jul 16
Changed: Jul 27
Last Checked: Jul 31 at 12:23PM
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 Golden View Realty
Investment Insights
Based on property information with market context.
This updated duplex includes two distinct living spaces with separate utility configurations. The front residence faces Terrace Avenue and offers 2 bedrooms and 1 bathroom, with a spacious living room centered around a cozy fireplace. The kitchen is equipped with a stove, dishwasher, dining area, and a built-in hutch. Additional features include central heating and air conditioning, a generous backyard, and a private 1-car garage with laundry hookups. Recent improvements cited for this unit include new electrical, fresh interior paint, and modern flooring.
The second home on the same APN is a fully updated 1-bedroom, 1-bathroom unit with a remodeled bathroom, fresh paint, brand-new electrical, and laminate flooring throughout. It also includes its own private garage and an excellent-sized backyard. Separate PG&E meters and two independent water heaters support independent living.
The property is described as being close to the VA hospital. The second unit is currently rented for $1,400 per month, and the first unit is described as projected to generate $2,000 per month in rental income.
The second home on the same APN is a fully updated 1-bedroom, 1-bathroom unit with a remodeled bathroom, fresh paint, brand-new electrical, and laminate flooring throughout. It also includes its own private garage and an excellent-sized backyard. Separate PG&E meters and two independent water heaters support independent living.
The property is described as being close to the VA hospital. The second unit is currently rented for $1,400 per month, and the first unit is described as projected to generate $2,000 per month in rental income.
Key Highlights
- Charming duplex built in 1952 with two separately metered residential units and two independent water heaters
- Front unit (Terrace Ave): 2 bed, 1 bath with central heating and air, private 1‑car garage, backyard, and updated electrical
- Front unit updates include fresh interior paint and modern flooring; kitchen includes stove, dishwasher, dining area, and built‑in hutch
Financial Insights For Multifamily LT 5
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 | $33.9k | $19.80 |
| − Vacancy | −$1.9k | −$1.09 |
| EGI | $32.0k | $18.71 |
| − OpEx | −$9.6k | −$5.61 |
| NOI | $22.4k | $13.10 |
1,710 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$320.0K
$280.0K – $373.3K
NOI $22,397 @ 7.0% cap · market cap 5.67%
Second Best
Apartment 5plus
$280.3K
$245.3K – $327.0K
NOI $19,621 @ 7.0% cap · market cap 4.97%
Theoretical Best
Office A
$503.9K
$440.9K – $587.9K
NOI $35,274 @ 7.0% cap · market cap 8.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
705
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two separately metered residential units, each with a private garage and backyard, with recent updates throughout.
Where is this duplex located?
The property is located at 2908 E Terrace Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $395,000.
What are key features of this property?
This property features: Charming duplex built in 1952 with two separately metered residential units and two independent water heaters; Front unit (Terrace Ave): 2 bed, 1 bath with central heating and air, private 1‑car garage, backyard, and updated electrical; Front unit updates include fresh interior paint and modern flooring; kitchen includes stove, dishwasher, dining area, and built‑in hutch
