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638 Kern St Dinuba, CA 93618

Sponsored
For Sale
$3,500,000

74-Unit Apartment Building, High NOI

Property size:
8,000 SF

Description

Added:
Dec 11, 2024
Days on Market:
392
This 74-unit apartment building in Dinuba, CA presents a compelling investment opportunity. Located on a 0.82-acre lot at 638 W Kern St, 93618, this Class B property boasts 8,000 square feet of rentable space, currently permitted for 74 beds. Previously used for H-2A housing, it's ideally suited for supported housing, offering significant potential for expansion. The property features four single-story buildings constructed in 1966 and renovated in 2000, including a commercial kitchen capable of producing over 1,000 meals daily, complete with walk-in refrigeration and freezer units. Improvements include metal roofs, new flooring, updated light fixtures, rain gutters, and a video security system. Exterior amenities include a 1,000 square foot shaded concrete eating area, two 20-foot sea trains for storage, and a gravel yard for equipment and vehicle staging. The property is fully fenced and gated, providing enhanced security and privacy. City water and sewer services are available. The property's central location offers convenient access to local stores and transportation, with proximity to Kingsburg (10 miles), Fresno (30 miles), Visalia (20 miles), and Bakersfield (80 miles). The asking price is $3,500,000, representing a price per unit of $47,297.30 and a price per square foot of $437.50. The property offers a strong net operating income (NOI) of $360,000, resulting in a 10.29% cap rate. The property is offered as a 1031 exchange opportunity. APN: 017-173-005-000.

Property Features for 638 Kern St

General Information

Property type
Multifamily properties
Square Feet
8,000 SF
Class
B
Lot Size
35,719 SF

Building Details

Year Built/Renovated
1966/2000
Buildings
4
Stories
1
Units
74

HighLights

  • $3,500,000 asking price for a 74‑unit apartment building in Dinuba, CA.
  • 8,000 square feet, offering $437.50 per square foot.
  • 10.29% cap rate with a $360,000 NOI.
  • Previously used for H‑2A housing, currently permitted for 74 beds with expansion potential.
  • Situated on a 0.82‑acre lot with remodeled interiors and exteriors.
  • Features include a commercial kitchen, fenced grounds, and ample outdoor space.
Property Profile Location Intelligence

Current Use by Public Records

Commercial real estate

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

Location Insight

  • Map
  • Local Demand
City
Dinuba
County
Tulare
State
California
Longitude
-119.394484
Latitude
36.535654

FAQs

What type of property is this?
Multifamily property - 74-Unit Apartment Building, High NOI
Where is this multifamily property located?
The property is located at 638 Kern St Dinuba, CA.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: $3,500,000 asking price for a 74-unit apartment building in Dinuba, CA.; 8,000 square feet, offering $437.50 per square foot.; 10.29% cap rate with a $360,000 NOI.
More about this property
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