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$ 2,164,000
Est. payment /mo
Pending
3109 N Thorne AVE Fresno, CA 93704
32 Beds
24 Baths
17,472 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Pending
Purchase Type For Sale
Square Footage 17,472 sqft
Price per Sqft $123
MLS Listing ID 641090
Bedrooms 32
Full Baths 24
HOA Y/N No
Year Built 1966
Lot Size 0.604 Acres
Property Sub-Type Multi Family
Property Description
16-Unit Complex - All 2 Bed 1.5 Bath Townhomes - Strong Value-Add Opportunity Current rents are approximately 45% below market, presenting a compelling opportunity to unlock substantial upside in revenue, cash flow, and overall asset value. Investors can drive income growth through natural lease turnover, light interior improvements, and by reactivating the on-site laundry room to capture additional ancillary income.Desirable, High-Demand Unit Mix: The property consists entirely of 2-bedroom / 1.5-bath townhomes, each over 1,100 SF - a unit type in high demand among families and long-term renters. These larger floorplans tend to attract strong tenants, reduce turnover, and maximize occupancy and net operating income while minimizing annual turnover expenses. Prime Central Fresno Location with High Renter Demand:Ideally located across from Dailey Elementary Charter School and within 1.5 miles of FresnoHigh School and Fresno City College, the property is well-suited for families and students. It is also within 2 miles of the Tower District and 2.5 miles of Fig Garden Village - two of Fresno's top dining, retail, and lifestyle corridors. These location advantages contribute to strong, consistent renter demand and support long-term value growth.Minimal Near-Term CapEx with Recent Improvements: Major capital improvements have already been completed, including a newly repaved parking lot in 2024, annual roof servicing, and electrical subpanel upgrades in most units. The property has been maintained and presents minimal short-term capital expenditure risk, giving investors the ability to focus on revenue growth from day one.
Location
State CA
County Fresno
Interior
Cooling Central Heat/Cool
Fireplaces Type None
Appliance Refrigerator: All Units, Stove: All units
Exterior
Parking Features Carport
Community Features Pool, On-Site Manager
Utilities Available Public Utilities
Roof Type Other
Building
Lot Description Urban
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
High Schools Fresno Unified
Listed by Visintainer Group