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    2043 Saginaw Way Fresno, CA 93726

    Sponsored
    For Sale
    $2,800,000

    14-Unit Apartment Building, Excellent ROI

    Property size:
    11,900 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 14-unit apartment complex, located at 2043 E Saginaw Way, Fresno, CA 93726, presents a compelling investment opportunity. The property, built in 1961 and extensively renovated in 2022, boasts a desirable Class B designation and offers a strong 5.72% cap rate with a Net Operating Income (NOI) of $160,054. The asking price is $2,800,000, translating to $200,000 per unit. The 11,900 square foot complex sits on a 0.9-acre lot (APN 436-183-21) and is zoned R-4. The two-story building comprises two structures, featuring thirteen two-bedroom, two-bathroom units and one three-bedroom, two-bathroom unit. All units are individually metered for utilities, enhancing operational efficiency. Tenant convenience is maximized with onsite laundry facilities and covered parking, including two garages. Additional income streams are generated from onsite storage rentals. Recent upgrades include a new roof, siding, paint, double-pane windows, updated interiors with new floors, appliances, fixtures, and hardware, granite countertops, copper plumbing in bathrooms, and new AC units and water heaters designed for a 10+ year lifespan. The property also includes a security gate and alarm system, enhancing resident safety. This turnkey property offers immediate cash flow and significant long-term potential. The fee simple ownership allows for complete control and flexibility. This is a 1031 exchange eligible property.

    Property Features for 2043 Saginaw Way

    General Information

    Property type
    Multifamily properties
    Square Feet
    11,900 SF
    Class
    B
    Lot Size
    39,204 SF

    Building Details

    Year Built/Renovated
    1961/2022
    Buildings
    2
    Stories
    2
    Units
    14

    HighLights

    • Individually metered utilities.
    • Turnkey property with recent renovations.
    • Secure building with gated access and alarm system.
    • Gated community offering covered parking, including two garages per unit.
    • Onsite tenant storage available for a fee.
    • Onsite laundry facility with a service contract.
    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 Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Fresno
    County
    Fresno
    State
    California
    Longitude
    -119.78617631027
    Latitude
    36.788622995199

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    FAQs

    What type of property is this?
    Multifamily property - 14-Unit Apartment Building, Excellent ROI
    Where is this multifamily property located?
    The property is located at 2043 Saginaw Way Fresno, CA.
    What is the asking price?
    The asking price for this property is $2,800,000.
    What are key features of this property?
    This property features: Individually metered utilities.; Turnkey property with recent renovations.; Secure building with gated access and alarm system.
    Request Owner's contact information
    2043 Saginaw Way Fresno, CA 93726
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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
    2043 Saginaw Way Fresno, CA 93726
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