2118 Glenn Ave Fresno, CA 93704-6326
Property profile & analytics
2118 Glenn Ave Fresno, CA 93704-6326
- Apartment buildings
- 3,900 SF
- 0.17 lot acres
Property ID
US10-2005444
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
Location Intelligence
Current Use by Public Records
- Apartment buildings
Property Details for 2118 Glenn Ave
- Year built
- 1966
- Construction
- WOOD
- Lot size
- 0.17 lot acres
- Property size
- 3,900 SF
- Zone code
- RM1
- Property type
- Apartment buildings
- APN
- 444-172-12
- APU
- 44417212
Description
This exceptional value-add multifamily investment opportunity presents a 5-unit apartment building situated on a 0.17-acre lot in Fresno, CA (APN: 444-172-12). The property, built in 1966 and renovated in 2021, comprises a single two-story building totaling 3,900 square feet of net rentable space. Each of the five units features two bedrooms and one bathroom, boasting approximately 760 square feet each. All units include private entrances, separately metered gas and electricity, and access to on-site laundry facilities. Currently operating at 100% occupancy with one-year month-to-month leases, the property generates a current Net Operating Income (NOI) of $37,435, representing a 6.29% cap rate based on the asking price of $595,000. However, a significant value-add opportunity exists through rent increases to market rates, projected to boost the NOI to $65,395 and the pro-forma cap rate to 10.99%. The property's strategic location near Fresno City College ensures a consistent tenant pool. Additional features include private parking on-site, convenient access to Highway CA-41, and ample street parking. The asking price per unit is $119,000, and the property is zoned for residential use. This presents a compelling investment opportunity with substantial upside potential in a strong rental market.
Value Estimations
based on Realmo’s proprietary methodology
-
AI approach
- Method
- Estimation
- Statistic approach
- $455,000
- ML approach
- $510,000
-
CAP approach
- CAP Return
- Estimation
- 6%
- $745,000
- 6.5%
- $690,000
- 7%
- $640,000
-
Comparable approach
- Method
- Estimation
- Statistic Estimate
- $613,000
Market price range: $413k - $649k -
Alternative Use
- Use
- Estimation
- APARTMENT HOUSE (5+ UNITS)
- $500,000 Current use
- MEDICAL BUILDING
- $785,000 Change: +57% Conversion: Moderate
- OFFICE BUILDING
- $620,000 Change: +24% Conversion: Moderate
- AUTO REPAIR, GARAGE
- $600,000 Change: +20% Conversion: Difficult
- RETAIL STORES
- $410,000 Change: -18% Conversion: Difficult
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Fresno
- County
- Fresno
- State
- California
- Longitude
- -119.793
- Latitude
- 36.7698
- CBSA code
- 23420
- CBSA name
- FRESNO, CA METROPOLITAN STATISTICAL AREA
Property Tax & Assessments
Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$5,447
$42,046
$378,423
$420,469
-
$0.00
$0.00
$0.00
