925 Purdue Ave Fresno, CA 93727

Property Details for 925 Purdue Ave

Year built

1965

Property size

2,000 SF

Property type

Residential income homes

APN

474-06-412

Description

This exceptional Class A multifamily property, located at 925 S Purdue Ave, Fresno, CA 93727 (APN 474-06-412), presents a compelling investment opportunity. The property consists of a two-unit, two-story building constructed in 1965 and extensively renovated in 2024, boasting a total of approximately 2,000-3,000 square feet on a 12,000 square foot lot. Currently generating a strong NOI of $66,000, resulting in a 10.02% cap rate, this property offers significant potential for future growth. The asking price is $658,400, with a price per unit of $329,200. The property is being sold fully furnished and includes a desirable swimming pool. One unit is currently rented for approximately $3,600 per month, while the second unit commands $1,500 per month. Projected monthly rents are $3,000 and $1,500 respectively, with potential for further increases. The seller is working with the county to potentially convert the existing units into a single larger unit. Buyers are encouraged to independently verify all property details, including square footage and permit information. This property is ideally suited for a 1031 exchange.