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Property profile & analytics
FOR LEASE
Residential income homes
1275 E Spruce Ave Fresno, CA 93720
Entity Owned
~
Est. High Equity
Property ID
US09-3242990
For Lease
1 / 10
$24 SF/Yr
1275 E Spruce Ave, Fresno, CA 93720
View Listing →
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
2002
Construction
WOOD
Total area
5,018 SF
Lot
0.29 ac (12,432 SF)
Zoning code
RM1
APN
405-570-01
UPID
US09-3242990
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Spruce Multispecialty Group Medical Clinic
-
Fresno International Travel Medical Clinic
-
Dr. Abbas Bazzy ND Physician Alternative Medicine Practice
-
The Golden Center for Integrative Medicine Medical Clinic
-
Quest Diagnostics Medical Clinic
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$730k
Blend (final)
Blend
$590k
Owner & transaction history
Ivc Investment Group LLC
Ivc Investment Group LLC
since 2026
2 recorded transactions
Zoning & alternative use
RM1 · Fresno, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Office building
$800,000
+24.1%
Auto repair, garage
$775,000
+20.4%
Industrial (general)
$705,000
+9.8%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Fresno submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Fresno submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$645,000
Current use
OFFICE BUILDING
$800,000
Change: +24% · Conversion: Moderate
AUTO REPAIR, GARAGE
$775,000
Change: +20% · Conversion: Difficult
INDUSTRIAL (GENERAL)
$705,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$530,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$590k
Range $531k – $649k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$118 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$7,144
Tax year 2023
Assessed value
$586,456
Assessed 2023
Previous assessed
$586,456
+0.0% YoY
Effective rate
1.22%
On assessed value
Assessed land
$88,737
Assessed improvement
$497,719
Applied tax rate
5.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
For Lease
Year built
2002
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Units
4
Bathrooms
10
Total area
5,018 SF
Lot
0.29 ac (12,432 SF)
Zoning code
RM1
APN
405-570-01
UPID
US09-3242990
Jurisdiction
FRESNO
Zoning & alternative use
RM1 · Fresno, CA
Zoning RM1 · permitted uses
RM1 · Fresno, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Fresno. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$645,000
OFFICE BUILDING
Est. value
$800,000
AUTO REPAIR, GARAGE
Est. value
$775,000
INDUSTRIAL (GENERAL)
Est. value
$705,000
RETAIL STORES
Est. value
$530,000
APARTMENT HOUSE (5+ UNITS) Current
OFFICE BUILDING
AUTO REPAIR, GARAGE
INDUSTRIAL (GENERAL)
RETAIL STORES
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2002
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
4
Bathrooms
10
Lot
0.29 ac
Current owner
From public records · entity-resolved
Ivc Investment Group LLC
Entity
Mailing address
PO BOX 3995, PINEDALE, CA 93650-3995
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 6, 2026
$4,700,000
Ivc Investment Group LLC
Michael W Lynch
Grant Deed
$3,525,000 · Wells Fargo Bank NA
Feb 6, 2026
—
Patrick A Golden M D
Denise Golden
Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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