4561 E White Avenue Fresno, CA 93702
This multifamily deal in Fresno presents an interesting opportunity for investment, particularly because of its involvement with the Fresno Housing Authority and the voucher system.Property: 5-unit apartment complex, all 1 bed 1 bath. Unit A $1205, Unit B $1204 Unit C $1169, Unit D $1136 Unit E $938 Occupancy: 100%, with 4 units on Fresno Housing Authority vouchers.Current Rent: $5, 652/month ($67, 824 annually).Potential Rent: Up to $6, 160/month with a 9.2% increase, considering the maximum Fresno HA voucher amount ($1, 308).Expenses: $13, 455 annually.--As per current expenses stated by the seller.--New buyer may have more or less.Cap Rate: Caprate---$ 54369/620000X 100 = 8.769----Cap rate must be calculated by buyers and buyers agent.Stable Income: The involvement of the Fresno Housing Authority suggests a potentially good rental income, especially with the current 100% occupancy rate.Income Growth Potential: There may be room for rental increases within the Fresno HA voucher limits, which may boost the income and, consequently, the property's value.Low Expenses: The annual expenses are relatively low compared to the gross income, indicating efficient management
- Property TypeMulti-Family
- NeighborhoodN/A
- CountyFresno
- Taxes$0
- HOA/Condo/Coop Fees$0
- Days on Site31 Days
- MLS StatusActive
- MLS ID Number610492
- Home Size Source N/A
- Year Built1960
- Lot Size0.186 Acres
- Full Baths5
- Partial BathsN/A
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