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Property profile & analytics
OFF-MARKET
Estimated value
$30,360,000
Apartment buildings
360 Nees Ave, Fresno, CA 93711-6037
Entity Owned
21-yr Hold
Free & Clear
Property ID
US09-3027122
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Year built
1985
Construction
WOOD
Total area
328,887 SF
Lot
16.34 ac (711,770 SF)
Zoning code
RM1
APN
402-570-01
UPID
US09-3027122
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$30.36M
Owner & transaction history
Better Homes INC · 21 yrs held
Better Homes INC
since 2004
2 recorded transactions
Zoning & alternative use
RM1 · Fresno, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Industrial (general)
$46.3M
+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)
$42,135,000
Current use
INDUSTRIAL (GENERAL)
$46,250,000
Change: +10% · Conversion: Difficult
RETAIL STORES
$34,615,000
Change: -18% · Conversion: Difficult
Blend value · Realmo final
$30.36M
Range $27.32M – $33.40M · ±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
$92 / 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
$401,015
Tax year 2023
Assessed value
$32,395,296
Assessed 2023
Previous assessed
$32,395,296
+0.0% YoY
Effective rate
1.24%
On assessed value
Assessed land
$3,894,757
Assessed improvement
$28,500,539
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 Sale
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
Apartment buildings
Use group
APARTMENT HOUSE (100+ UNITS)
Status
Off-Market
Year built
1985
Construction
WOOD
Heating
NONE
Cooling
REFRIGERATOR
Stories
2
Units
384
Bathrooms
6
Total area
328,887 SF
Lot
16.34 ac (711,770 SF)
Zoning code
RM1
APN
402-570-01
UPID
US09-3027122
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
$42.1M
INDUSTRIAL (GENERAL)
Est. value
$46.3M
RETAIL STORES
Est. value
$34.6M
APARTMENT HOUSE (5+ UNITS) Current
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
1985
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
384
Bathrooms
6
Lot
16.34 ac
Current owner
From public records · entity-resolved
Better Homes INC
Entity
Free & Clear · 21 yrs held
Mailing address
7555 N DEL MAR AVE STE #102, FRESNO, CA 93711-6873
Ownership since
2004
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
Jul 28, 2004
$11,144,000
Better Homes INC
Riverview Estates
Grant Deed
related
—
—
—
Riverview Estates
—
Deed Of Trust
related
$2,054,000 · Private Lender
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.
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