1418 Crowe St Visalia, CA 93277-2187

This fee-simple, 23-unit apartment building, Casa Del Rio, presents a compelling investment opportunity in Visalia, CA. Located on a one-acre lot at 1418 S Crowe St, 93277, this Class C property boasts 21,304 square feet of net rentable space, offering a mix of one, two, and three-bedroom units. Built in 1970, the property features desirable amenities including covered parking, individual storage units, private patios or balconies, and on-site laundry facilities. The property's strategic location, just steps from the College of the Sequoias and near Highway 198, ensures high occupancy rates and convenient access to employment and shopping centers like Visalia Mall and Sequoia Mall. The current NOI is $203,246, with a 6.56% cap rate, and a pro-forma NOI of $236,082, projecting a 7.62% cap rate. Utility reimbursements, implemented in 2021, further enhance the property's revenue potential. The asking price is $3,100,000, representing a price per unit of $143,261 and a price per square foot of $155. The property is zoned PA. This is a prime opportunity for investors seeking a stable, high-performing multifamily asset in a desirable location.