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Property summary
This 74-unit apartment building in Dinuba, CA presents a compelling investment opportunity. Located on a 0.82-acre lot at 638 W Kern St, 93618, this Class B property boasts 8,000 square feet of rentable space, currently permitted for 74 beds. Previously used for H-2A housing, it's ideally suited for supported housing, offering significant potential for expansion. The property features four single-story buildings constructed in 1966 and renovated in 2000, including a commercial kitchen capable of producing over 1,000 meals daily, complete with walk-in refrigeration and freezer units. Improvements include metal roofs, new flooring, updated light fixtures, rain gutters, and a video security system. Exterior amenities include a 1,000 square foot shaded concrete eating area, two 20-foot sea trains for storage, and a gravel yard for equipment and vehicle staging. The property is fully fenced and gated, providing enhanced security and privacy. City water and sewer services are available. The property's central location offers convenient access to local stores and transportation, with proximity to Kingsburg (10 miles), Fresno (30 miles), Visalia (20 miles), and Bakersfield (80 miles). The asking price is $3,500,000, representing a price per unit of $47,297.30 and a price per square foot of $437.50. The property offers a strong net operating income (NOI) of $360,000, resulting in a 10.29% cap rate. The property is offered as a 1031 exchange opportunity. APN: 017-173-005-000.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
2. The RM-2 district is intended for application to areas designated by the general plan for medium high and high density. 3. The RM-1.5 district is intended exclusively for application to areas designated by the general…
Comparables
6 recent transactions · within 1.5 miComparable in this City
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Value estimation
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from $99/month
Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
Derived from the Dinuba market rent, vacancy and expense benchmarks for this use type.
Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2024Property description
Physical attributes from public recordsZoning & alternative use
RM-2 · Dinuba, CA2. The RM-2 district is intended for application to areas designated by the general plan for medium high and high density. 3. The RM-1.5 district is intended exclusively for application to areas designated by the general…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
2. The RM-2 district is intended for application to areas designated by the general plan for medium high and high density. 3. The RM-1.5 district is intended exclusively for application to areas designated by the general…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for RM-2 in Dinuba, CA.
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