37-Unit Apartment
For Sale
$6,250,000
475 N Manila Avenue, Fresno, CA 93727
Multi Family, Fresno, CA
Property Size33,744 SF
Lot Size1.56 Acres
Price / SF$185.22
Days on Market71
Property Features for 475 N Manila Avenue
General Information
Property type
Residential Multi Family
Property subtype
Other
Bedrooms
73
Bathrooms
37
Full bathrooms
37
Rooms
Bedroom 60, Bedroom 54, Bathroom 11, Bathroom 5, Bedroom 28, Bedroom 48, Bathroom 28, Bedroom 47, Bathroom 15, Bedroom 46, Bathroom 35, Bathroom 34, Bathroom 26, Bedroom 34, Bathroom 36, Bedroom 68, Bathroom 30, Bedroom 67, Bedroom 37, Bathroom 22, Bedroom 59, Bedroom 42, Bedroom 22, Bedroom 3, Bedroom 53, Bedroom 31, Bathroom 7, Bedroom 10, Bedroom 41, Bedroom 15, Bedroom 33, Bathroom 27, Bedroom 23, Bathroom 21, Bathroom 9, Bedroom 62, Bathroom 19, Bedroom 71, Bathroom 25, Bedroom 8, Bedroom 73, Bedroom 58, Bedroom 36, Bedroom 56, Bedroom 50, Bedroom 32, Bedroom 17, Bedroom 29, Bedroom 57, Bedroom 2, Bathroom 14, Bedroom 19, Bedroom 5, Bathroom 6, Bedroom 4, Bedroom 12, Bedroom 69, Bedroom 65, Bedroom 49, Bedroom 72, Bedroom 40, Bedroom 64, Bathroom 31, Bedroom 1, Bedroom 9, Bathroom 37, Bathroom 17, Bedroom 13, Bedroom 61, Bedroom 30, Bedroom 26, Bedroom 24, Bathroom 23, Bedroom 21, Bathroom 1, Bedroom 27, Bathroom 10, Bathroom 12, Bathroom 18, Bedroom 44, Bedroom 66, Bedroom 39, Bedroom 55, Bathroom 20, Bathroom 24, Bedroom 45, Bathroom 16, Bedroom 20, Bathroom 8, Bedroom 25, Bedroom 14, Bathroom 2, Bedroom 11, Bedroom 52, Bedroom 16, Bedroom 18, Bathroom 13, Bedroom 70, Bedroom 51, Bathroom 3, Bedroom 43, Bathroom 33, Bedroom 38, Bathroom 32, Bedroom 63, Bathroom 4, Bedroom 7, Bedroom 6, Bathroom 29, Bedroom 35
Parking features
Carport, Covered
Exterior features
Stucco
High school district
Clovis Unified
Directions
From CA-180 (Kings Canyon Rd) exit N Peach Ave, north on N Peach to E Belmont Ave, east on E Belmont to N Manila Ave, then north on N Manila. Subject parcels are at 415, 431 and 475 N Manila Ave on the east side of the street.
Subdivision
727
Standard status
Active
APN
31329109
Size
33,744 SF
Lot size
1.56 Acres
Amenities
pool
on-site laundry
private patios
Building Details
Year built
1975
Floors in Building
2
Number of units
37
Roof type
Composition
Listing Agency:
HomeSmart PV and Associates · HomeSmart International
(559) 473-2555
Listed By:
Mark Chu
(209) 602-6147
Added: Aug 13
Changed: Oct 21
Last Checked: Oct 22 at 1:06AM
MLS# 653650
Copyright © 2026 Fresno Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 37-unit apartment community occupies 33,744 rentable square feet across 1.56 acres in Fresno. The unit mix includes thirty-five two-bedroom, one-bath residences, one three-bedroom residence, and one studio. Property features include two swimming pools, on-site laundry, private patios, and 22 garage spaces, with stucco exteriors and composition roofing. RM1 zoning applies to the property.
The asset consists of three Fresno County parcels at 475 N Manila Avenue, with additional adjoining properties at 431 and 415 N Manila. The community is within the Clovis Unified School District. An owner-reported January–December 2025 operating statement reflects a 6.48% return at the current tax assessment and 5.59% after reassessment at the purchase price. Operating figures are unaudited and subject to buyer verification.
The asset consists of three Fresno County parcels at 475 N Manila Avenue, with additional adjoining properties at 431 and 415 N Manila. The community is within the Clovis Unified School District. An owner-reported January–December 2025 operating statement reflects a 6.48% return at the current tax assessment and 5.59% after reassessment at the purchase price. Operating figures are unaudited and subject to buyer verification.
Key Highlights
- 37 units across three Fresno County parcels
- 33,744 rentable SF on 1.56 acres
- Unit mix includes 35 two‑bedroom units, one three‑bedroom unit, and one studio
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$362,328
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,246,560
$7.2M
Cap Rate 7%
$5,176,114
$5.2M
Cap Rate 9%
$4,025,867
$4.0M
Market Conditions
NOI Build-Up for 33,744 SF
Gross rent
$688.4K $20.40/SF
− Vacancy
−$29.6K −$0.88/SF
EGI
$658.8K $19.52/SF
− OpEx
−$296.4K −$8.79/SF
NOI
$362.3K $10.74/SF
Area
ZIP 93727
Vacancy
4.30%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$7,246,560
Cap Rate 7%
$5,176,114
Cap Rate 9%
$4,025,867
Alternative Uses
Best Use
Apartment 5plus
$5.18M
$4.53M – $6.04M
NOI $362,328 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$9.56M
$8.37M – $11.16M
NOI $669,472 @ 7.0% cap · market cap 10.71%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Contact the owner directly
Get the owner's phone numbers and email
Open Analytics
Lease Details
37
Residential units
Location Intelligence
Trade Area within ½ mile
131
Businesses Nearby
Explore this area
Business Placement
Demographics for 93727, CA
83,212
Population
25,919
Households
3.2
Avg Household Size
31
Median Age
24%
College-Educated
84%
High-School Grad
22.0 sq mi
ZIP Area
3,782
Density / Sq Mi
$82,247
Median Household Income
$42,002
Median Earnings
$1,277
Median Rent
$370,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Multifamily community with varied unit layouts, shared pools, covered parking, laundry facilities, and private patios.
Where is this apartment building located?
The property is located at 475 N Manila Avenue Fresno, CA.
What is the asking price?
The asking price for this property is $6,250,000.
What are key features of this property?
This property features: 37 units across three Fresno County parcels; 33,744 rentable SF on 1.56 acres; Unit mix includes 35 two‑bedroom units, one three‑bedroom unit, and one studio
