87 Olive AveFresno, CA 93728

Property Details for 87 Olive Ave

Year built

1969

Construction

WOOD

Lot size

0.14 AC

Property size (Sq ft)

2,940 SF

Zone code

CMS

Property type

Office properties

Property subtype

Office buildings

APN

450-172-11

APU

45017211

Description

This exceptional investment opportunity presents a two-story, Class C office building situated at 87 E Olive Ave, Fresno, CA 93728. The property, built in 1969, encompasses a substantial 2,940 square feet of net rentable space across 13 units, currently generating $4,100 in monthly rental income (62% occupancy). The building sits on a generous 5,950 square foot lot, zoned CMS, offering potential for expansion or redevelopment. The asking price is $600,000, translating to $204.08 per square foot. Key features include owned solar panels, contributing to energy efficiency and cost savings. This property represents a compelling investment prospect in Fresno's desirable Tower District, offering a blend of immediate income generation and future growth potential. The property's 13 units provide flexibility for various uses, including creative, medical, or traditional office spaces. The substantial lot size provides ample room for future development or expansion. This is a rare chance to acquire a well-located commercial property with existing income and significant upside. The APN is 450-172-11.

• CAP approach

  CAP return

  Valuation

  6%

  $416,793

  6.5%

  $384,732

  7%

  $357,251

• Comparable approach

  Method

  Valuation

  Relative Method

  $390,403

  Geo Method

  $819,995

• Alternative Use

  Use

  Valuation

  Residential

  $477,068

  Hospitality

  $436,991

  Educational

  $363,572

  Medical

  $376,075

  Retail

  $565,556

Location Insight

City

Fresno

County

Fresno

State

California

Latitude

36.7579

Longitude

-119.811

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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