Building Details

Year Built 1966

Listing Agency: Fresno Income Properties

Listed By: Paul Gestic · License #01376488 Show Phone

Source: Compass

Added: Mar 13 Changed: Oct 13 Last Checked: Oct 15 at 1:49AM

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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 Fresno Income Properties

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Investment Insights

Based on property information with market context.

This 5-unit apartment building contains five 2-bedroom, 1-bathroom units within 4,260 square feet. The property includes an onsite laundry room, security gates, stucco and brick exterior elements, and heating and cooling through floor or wall heat and window or wall A/C. Originally built in 1966, the property received renovations in 2020 that included the roof, windows, kitchens, bathrooms, and security gates.

Located at 382 North Glenn Avenue, Unit AE, in Fresno, California, the building is vacant and will be delivered AS IS. Some units require interior work, while the existing improvements provide a documented starting point for further updates.

Key Highlights

• 5‑unit apartment property with five 2‑bedroom, 1‑bathroom units
• 4,260 square feet of apartment building area
• 2020 renovations included roof, windows, kitchens, bathrooms, and security gates

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$48,880

Cap Rate

6.98%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$977,600 $977.6K

Cap Rate 7%

$698,286 $698.3K

Cap Rate 9%

$543,111 $543.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,260 SF

Gross rent

$93.5K $21.96/SF

− Vacancy

−$4.7K −$1.10/SF

EGI

$88.9K $20.86/SF

− OpEx

−$40.0K −$9.39/SF

NOI

$48.9K $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%

$977,600

Cap Rate 7%

$698,286

Cap Rate 9%

$543,111

Alternative Uses

Best Use

Apartment 5plus

$698.3K

$611.0K – $814.7K (±1% cap)

NOI $48,880 @ 7.0% cap · market cap 6.98%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$1.26M

$1.10M – $1.46M (±1% cap)

NOI $87,875 @ 7.0% cap · market cap 12.55%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Apartment buildings

Suggested Use

Top Pick (Bike/Boat/Book/etc) Store Butcher Plumbing Service Fish Market Travel Agency Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

3,129

Businesses Nearby

Explore this area Business Placement

Demographics for 93701, CA

12,037

Population

3,836

Households

3.1

Avg Household Size

28

Median Age

7%

College-Educated

48%

High-School Grad

1.5 sq mi

ZIP Area

8,025

Density / Sq Mi

$32,192

Median Household Income

$26,875

Median Earnings

$926

Median Rent

$207,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Vacant apartment property with onsite laundry and security gates.

Where is this apartment building located?

The property is located at 382 North Glenn Avenue Unit AE Fresno, CA.

What is the asking price?

The asking price for this property is $700,000.

What are key features of this property?

This property features: 5‑unit apartment property with five 2‑bedroom, 1‑bathroom units; 4,260 square feet of apartment building area; 2020 renovations included roof, windows, kitchens, bathrooms, and security gates