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3940 E Burns AVE Fresno, CA 93725
16 Beds
8 Baths
5,400 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,400 sqft
Price per Sqft $221
MLS Listing ID 647009
Bedrooms 16
Full Baths 8
HOA Y/N No
Year Built 1963
Lot Size 0.293 Acres
Property Sub-Type Multi Family
Property Description
Eight Unit Multifamily Investment Opportunity. Great Income, Modern Upgrades, Strong Rental Demand, Brand New Roof, Brand New Paint, newer AC units.This 8 unit multifamily asset offers a full 2 Bedroom, 1 Bath configuration, a consistently high demand layout in the Fresno rental market. Every residence has received new interior paint within the last year, creating a clean and uniform presentation across the property. The building reflects ongoing ownership care, with a mix of upgraded interiors, modernized kitchens and baths, and strong in place rents. This is a stabilized, income producing asset with clear upside through continued modernization of legacy units.Unit Mix and Interior Condition:Unit 1: $1,400. Fresh interior paint, new floors.Unit 2: $1,050. New flooring. Clean interior profile.Unit 3: $1,200. New flooring. Fully remodeled kitchen with granite and new cabinets. New bathroom.Unit 4: $1,175. New bathroom. New flooring. New stove.Unit 5: $1,250. Full renovation completed one year ago. Modern kitchen, bath, flooring, and finishes.Unit 6: $1,541. New windows. New paint. New stove. (Hosing Voucher)Second Building (Units 7 and 8):Unit 7: $1,090. Unit 8: $1,025. New bathroom. New kitchen with cabinets, granite, and stove. New flooring and new paint.Financial Summary:Total Monthly Income: $9,731.00Total Annual Income: $116,772Operating Expenses (Annual):Insurance: $4,700Water and Sewer: $3,000Trash: $2,800Electric and Gas (Common): $900Garden Care: $600Pest Control: $600Investment Highlights:Brand new Roof.Brand new outdoor paint.All units are 2 bed and 1 bath, the strongest rental configuration in this submarket.Uniform interior paint across all eight units within the last year.Multiple upgraded interiors with new kitchens, granite counters, cabinets, flooring, and bathrooms.Stabilized rent roll with strong in place income.Clear value add runway through modernization of legacy units.This 8 unit asset is ideal for investors seeking an income producing property with a balanced mix of renovated units and value add potential. There is room for improvements in the rents.
Location
State CA
County Fresno
Interior
Cooling Wall/Window Unit(s)
Fireplaces Type None
Exterior
Parking Features Carport, Covered, Open
Community Features Utility Room
Utilities Available Public Utilities
Roof Type Composition
Building
Lot Description Urban
Story 2
Foundation Concrete Perimeter
Sewer Public Sewer
Water Public
Schools
High Schools Fresno Unified
Listed by Universal Realty Services, Inc.