2043 Saginaw Way Fresno, CA 93726

Property Details for 2043 Saginaw Way

Year built

1961

Construction

WOOD

Lot size

0.40 lot acres

Property size

11,960 SF

Zone code

RMX

Property type

Apartment buildings

APN

436-183-21

APU

43618321

Description

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.

Location Insight

City

Fresno

County

Fresno

State

California

Longitude

-119.786

Latitude

36.789

CBSA code

23420

CBSA name

FRESNO, CA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments