259 N Clovis Avenue, Fresno CA, 93727
(Active)
$1,750,000
|
97,574 sqft
|
MLS# 609579
Last Updated: 5/3/2024 4:16 AM
Description for
259 N Clovis Avenue
Fresno, CA 93727
**Prime Development Opportunity: Phase 2 of Fancher Creek Mall Development with 60 Units in Fresno, CA****Shovel-Ready Status**: This project comes shovel-ready, allowing the buyer to move forward immediately post-permit approval. Civil (onsite & offsite), Building (MEP, Structural & Architectural), Fire & Fire Sprinkler, Solar and PG&E + ALL APPROVED!All plan check fees have been paid for by the seller & buyer/builder to pay for permits and development fees**Market Rental Rates**: This Fresno Area market commands an average rent of $1,850 per month for outdated 2-bedroom, 2-bathroom units. Newer units in this development are projected to yield $2,100 per month.**Financial Metrics**: Our seller's proforma indicates an enticing 8.9% Cap Rate. However, we strongly recommend buyers to conduct their own comprehensive due diligence. Comprehensive Development Budget & Operational Budget Available During Due Diligence Period.
Price
$1,750,000
Fresno
97,574 (approx)
609579
Active
Description
**Prime Development Opportunity: Phase 2 of Fancher Creek Mall Development with 60 Units in Fresno, CA****Shovel-Ready Status**: This project comes shovel-ready, allowing the buyer to move forward immediately post-permit approval. Civil (onsite & offsite), Building (MEP, Structural & Architectural), Fire & Fire Sprinkler, Solar and PG&E + ALL APPROVED!All plan check fees have been paid for by the seller & buyer/builder to pay for permits and development fees**Market Rental Rates**: This Fresno Area market commands an average rent of $1,850 per month for outdated 2-bedroom, 2-bathroom units. Newer units in this development are projected to yield $2,100 per month.**Financial Metrics**: Our seller's proforma indicates an enticing 8.9% Cap Rate. However, we strongly recommend buyers to conduct their own comprehensive due diligence. Comprehensive Development Budget & Operational Budget Available During Due Diligence Period.
Listing Information
| Property Type: Land, Business Opportunities, Other | ||
| 2.24 Acres | 97,574 (approx) | |
Public
Public Sewer
Neighborhood
School Information
| District: Fresno Unified | ||
| Southeast | Kings Canyon | Sunnyside |
Room Information
Exterior / Lot Features
CMX
Driving Directions
The property is located on N. Clovis Ave. approximately 0.25 Miles North of E. Tulare Ave and approximately 0.30 Miles south of Belmont Ave.
Listing Price History
Fresno Real Estate
Fresno is located in California. Fresno, California 93727 has a population of 525,107.
The median household income in Fresno, California 93727 is $56,203. The median household income for the surrounding county is $57,469 compared to the national median of $66,222. The median age of people living in Fresno 93727 is 34 years.
Data provided below are primarily sourced from Public Records data.
Nearby Recent Sales (Sourced from Public Records)
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Price History
| Date | Event | Price | Source |
|---|---|---|---|
| 3/18/2024 | Active | $1,750,000 USD |
|
Tax History (Sourced from Public Records)
| year | Property Taxes | Change | Tax Assessment | Change |
|---|---|---|---|---|
| 2023 | $2,712 USD | -2.66% | $209,281 USD | - |
| 2022 | $2,786 USD | 13.90% | $209,281 USD | 2.00% |
| 2021 | $2,446 USD | 21.51% | $205,178 USD | 41.50% |
| 2020 | $2,013 USD | 1.82% | $145,000 USD | - |
| 2019 | $1,977 USD | 0.25% | $145,000 USD | - |