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$ 4,400,000
Est. payment /mo
New
1985 N Winery AVE Fresno, CA 93703
55 Beds
42 Baths
24,225 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 24,225 sqft
Price per Sqft $181
MLS Listing ID 648834
Bedrooms 55
Full Baths 42
HOA Y/N No
Year Built 1971
Lot Size 0.925 Acres
Property Sub-Type Multi Family
Property Description
Prime Fresno LocationThe property is strategically located at 1985 N Winery Ave, placing it within the immediate sphere of Fresno's most vital educational and retailhubs. It is situated just minutes from California State University, Fresno (25,000+ students) and Fresno City College, providing a consistent poolof student and faculty renters.Strong Multifamily MarketThe Fresno multifamily market continues to show robust performance. Asking rents in the Central Valley grew by 1.8% annually, and forecastsindicate continued appreciation through 2026. With vacancy rates remaining exceptionally tightreaching as low as 2.5% in neighboringcountiesVilla Capri is well-positioned to benefit from the region's chronic undersupply of quality rental housing.Regional Employment and expansionFresno serves as the economic heart of the Central Valley, recently adding 7,600 new jobsthe largest net gain in the region. The localeconomy is supported by a diverse array of industries, including healthcare, education, and a massive logistics sector anchored by Amazon,Target, and Walmart. The recent $150 million expansion of the Fresno Yosemite International Airport (FAT) further solidifies the area as agrowing hub for commerce and travel, driving sustained household formation and rental demand.Villa Capri features a highly efficient unit mix, with 92% of the property comprised of spacious two-bedroom floor plans (split evenly between2BD/1BA and 2BD/2BA). This configuration is the most sought-after in the Fresno market, appealing to a wide range of renters from smallfamilies to roommates. The two-building, garden-style layout on a 0.93-acre site offers a manageable scale for investors, while the uniformfloor plans help minimize ongoing maintenance and turnover expenses.
Location
State CA
County Fresno
Interior
Cooling Central Heat/Cool
Fireplaces Type None
Appliance Refrigerator: All Units, Dishwasher: None, Disposal: None, Stove: All units
Exterior
Fence Fenced
Utilities Available Public Utilities, Natural Gas Connected
Roof Type Composition
Building
Lot Description Urban
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
High Schools Fresno Unified
Listed by Brendan Kane Real Estate
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