35
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$900,000
Est. payment /mo
6 Beds
2 Baths
2,016 SqFt
Active
4563 E Sierra Madre Avenue Fresno, CA 93726
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Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 2,016 sqft
Price per Sqft $446
MLS Listing ID 650694
Bedrooms 6
Full Baths 2
HOA Y/N No
Year Built 1956
Lot Size 0.344 Acres
Property Sub-Type Duplex
Property Description
Fresno State campus-adjacent investment opportunity with substantial value-add upside. Fully renovated turn-key duplex directly across the street from California State University, Fresno (~25,000 students), currently producing $56,160 annual gross rent on a by-the-room student rental model ($780/month per room, 5 of 6 currently leased).The strategic value here is in the entitled redevelopment optionality. Corridor/Center Mixed-Use (CMX) zoning on a 15,000 SF parcel Fresno removed the dwelling-unit density cap in mixed-use zones in 2022, opening the door to additional multifamily in the rear, ground-floor commercial uses targeting the captive student market, or expanded student housing. The lot is the canvas.Offered with CITY-APPROVED expansion plans (Permit B24-13708) adding 4 bedrooms and 2 bathrooms via garage conversion plus nook additions and a new 540 SF carport. Stabilized proforma: 10 rooms, $93,600 gross / 5.31% cap on list. Full architectural plans, structural engineering, and energy compliance forms transfer with the property approximately $120K in soft costs already paid by seller, eliminating 6-12 months of entitlement work for the buyer.Built 1956, fully renovated. Automatic security gate, fully fenced. Operating expenses remarkably lean. Cash or DSCR loan preferred. Showings by appointment only with 24-hour notice required (tenant-occupied).Pre-listing inspection on hand, available to qualified buyers.
Location
State CA
County Fresno
Interior
Cooling Central Heat/Cool
Fireplaces Type None
Appliance Refrigerator: All Units, Dishwasher: All Units, Disposal: All units, Stove: All units
Exterior
Parking Features Open
Garage Spaces 2.0
Fence Fenced
Utilities Available Public Utilities
Roof Type Composition
Building
Lot Description Urban, Sprinklers In Front, Sprinklers In Rear, Sprinkler - Auto, Mature Landcsape
Story 1
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
High Schools Fresno County Ooe
Listed by The Mohan Group
NEARBY SCHOOL & BUSINESS
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