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    2542 Elm Ave Fresno, CA 93706

    Sponsored
    For Sale
    $995,000

    96-unit multifamily project, shovel-ready.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional 10.18-acre parcel in Fresno, CA (APN 479-020-36, -52), zoned RS-5 Med Density Residential, presents a remarkable opportunity for multifamily development. A tentative map and complete building plans are in place for a 96-unit project, comprising 24 two-story buildings. The development features 48 three-bedroom units and 48 four-bedroom units, providing ample living space. The project design includes 188 parking spaces (1.5 spaces per unit), 146,892 square feet of open space (49,329 square feet of which is active), and 20-foot setbacks, enhanced by plans for a quality rod iron fence. The total building size is approximately 131,376 square feet. This turnkey asset benefits from its location in a high-rental-demand area, close to schools and numerous commercial amenities, including recently developed apartment complexes. Convenient access to Highways 99 and 41, along with its placement within an Opportunity Zone, further enhances its appeal. The property is shovel-ready, with utilities already on-site. This represents a significant investment opportunity in a thriving Fresno submarket. The asking price is $995,000. The address is 2542 S Elm Ave, Fresno, CA 93706.

    Property Features for 2542 Elm Ave

    General Information

    Property type
    Land
    Lot Size
    443,441 SF

    HighLights

    • ±10.18 Acres (±443,441 SF) of vacant land, RS‑5 zoned for multifamily development.
    • Approved Tract 5786, 96‑unit multifamily development for sale.
    • Tentative map and complete building plans for a 96‑unit apartment complex (48 three‑bedroom, 48 four‑bedroom units).
    • Shovel‑ready with utilities on‑site, located in an Opportunity Zone.
    • High rental demand location near schools, commercial amenities, and major freeways (Hwy 99 & 41).
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Dental Office Wholesale Shop Auto Repair Shop Clothing Store Nail Salon Hotel & Motel

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.791506
    Latitude
    36.709303

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    FAQs

    What type of property is this?
    Land - 96-unit multifamily project, shovel-ready.
    Where is this land located?
    The property is located at 2542 Elm Ave Fresno, CA.
    What is the asking price?
    The asking price for this property is $995,000.
    What are key features of this property?
    This property features: ±10.18 Acres (±443,441 SF) of vacant land, RS-5 zoned for multifamily development.; Approved Tract 5786, 96-unit multifamily development for sale.; Tentative map and complete building plans for a 96-unit apartment complex (48 three-bedroom, 48 four-bedroom units).
    (559) 705-1000
    Request Owner's contact information
    2542 Elm Ave Fresno, CA 93706
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    Fresno, CA 93706
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2542 Elm Ave Fresno, CA 93706
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