190 Van Ness Ave Fresno, CA 93701
12-unit office building, Downtown Fresno. High ROI.
Property size:
3,747 SFProperty Features for 190 Van Ness Ave
General Information
- Property type
- Office Units
- Square Feet
- 3,747 SF
- Class
- B
Building Details
- Year Built/Renovated
- 1966/2023
- Buildings
- 2
- Stories
- 1
- Units
- 12
Listing Agency: Realty Concepts Listing Agent: Jeff Zimmerman
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 12-unit, single-story office building located at 190 N Van Ness Ave, Fresno, CA 93701. The property, totaling 3,747 square feet on an 11,775 square foot lot, boasts a strong 92% occupancy rate with 12 tenants. Built in 1966 and completely remodeled in early 2023, the building features two structures and is classified as a Class B property. The current asking price is $698,000, reflecting a 6.65% cap rate and a pro-forma cap rate of 6.66%. The property's net rentable area is 2,915 square feet, with a price per square foot of $186.28 and a price per unit of $58,167. The lease type is gross, and rent bumps are in place. The property includes one parking space per unit, gated parking, and gated access to offices and common areas. Fully automated access is also available. Further enhancing its value, the building features fully owned solar panels added in August 2024. The property is fully ADA compliant and zoned NMX (with additional parking zoned RS-5). This stabilized investment offers significant upside potential due to the lack of comparable individual office suites in the area and the absence of rent control, allowing for market-rate rent increases. The property is ideal for a variety of tenants, including those in beauty services, tech, legal, and insurance. Financial details are available upon request.
Property Profile
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Location Insight
- Map
- Local Demand
- City
- Fresno
- County
- Fresno
- State
- California
- Longitude
- -119.79870990443
- Latitude
- 36.745830374931
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FAQs
What type of property is this?
Office units - 12-unit office building, Downtown Fresno. High ROI.
Where is this office units located?
The property is located at 190 Van Ness Ave Fresno, CA.
What is the asking price?
The asking price for this property is $698,000.
What are key features of this property?
This property features: Downtown Fresno location.; Strong upside potential due to lack of comparable properties and no rent control.; Completely remodeled in 2023.
