4760 Butler Ave Fresno, CA 93702
- Apartment buildings
- 218,933 SF
- 15.42 lot acres
Current Use by Public Records
- Cypress Point / Apartment Complex
Property Details for 4760 Butler Ave
- Year built
- 1980
- Lot size
- 15.42 lot acres
- Property size
- 218,933 SF
- Property type
- Apartment buildings
Description
This exceptional 224-unit apartment building, Cypress Point, presents a compelling investment opportunity in Fresno, CA. The property boasts 218,933 square feet of net rentable space, spread across a 15.42-acre lot. Built in 1980, this single-story complex features 100% two-bedroom/one-bathroom units ranging from 968 to 992 square feet each. Currently operating at a 5.05% cap rate and a projected 6.58% pro-forma cap rate, the property offers a strong NOI of $1,843,535 and a pro-forma NOI of $2,400,798. The asking price is $36,500,000, translating to $162,946 per unit and $166.72 per square foot. The property enjoys a 97% occupancy rate and benefits from an attractive assumable loan with approximately 9 years remaining at a 3.16% interest-only rate. Amenities include two swimming pools, on-site laundry facilities (with approximately 77% of units having washer/dryer hookups), and ample parking. Situated across from Fresno Pacific University, Cypress Point benefits from a robust rental market and significant potential for rental income growth (approximately 13%) through interior renovations. This presents a substantial value-add opportunity for investors seeking a high-cash-on-cash return of 7.05% on current operations.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Fresno
- County
- Fresno
- State
- California
- Longitude
- -119.738
- Latitude
- 36.7275
