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CA
Dinuba
93618
638 Kern St

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FOR SALE

Apartment buildings

638 W Kern St Dinuba, CA 93618

3,744 SF 0.8 ac lot Built 1956

Entity Owned 2-yr Hold ~ Est. High Equity

Property ID

US09-5937420

$1,850,000 3,744 SF

638 W Kern St, Dinuba, CA 93618
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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.