Multifamily
Cypress Point
4760 E Butler Ave, Fresno, CA 93702
Listing Price: $31,000,000
Investment Overview
Marcus & Millichap is pleased to present the Cypress Point Apartments located in Fresno, CA. This unique opportunity, now available for the first time in over 20 years, presents a compelling case for investors seeking to maximize returns. With the potential to increase rental income by approximately 13% through interior renovations, this property promises substantial value enhancement. The property has a favorable assumable loan with approximately 9 years left with an interest rate of 3.16% interest only. At an attractive 5.04% cap rate on current operations and a promising 6.59% cap rate on proforma operations, Cypress Point is attractively priced, highlighting its strong cash-on-cash return of 7.05%. Boasting over 200 units in the Central Valley, it provides a substantial foothold in a desirable rental market.
Cypress Point has 100% two-bedroom/one-bathroom units that range from 968-992 square feet. In addition, well-equipped common areas, including two swimming pools, on-site laundry (approximately 77% of the units have washer/dryer hookups), ample parking, enhance tenant satisfaction. Situated in a robust rental market, Cypress Point benefits from strong demand for housing, ensuring consistent occupancy and potential for rent growth.
Cypress Point
Investment Highlights
- Opportunity to Increase Rental Income by Approximately 13% Via Interior Renovations
- Very Attractive Assumable Loan at 3.16% Interest Rate (interest only) with Approximately 9 Years Left
- 100% Two-Bedroom/One-Bathroom Units
- Single-Story Construction
- Across The Street From Fresno Pacific University
- Located in a Very Strong Rental Market
- 7.05% Cash-On-Cash Return on Current Operations
Exclusively Listed By
Financing By
Listing Price: $31,000,000
Investment Highlights
- Opportunity to Increase Rental Income by Approximately 13% Via Interior Renovations
- Very Attractive Assumable Loan at 3.16% Interest Rate (interest only) with Approximately 9 Years Left
- 100% Two-Bedroom/One-Bathroom Units
- Single-Story Construction
- Across The Street From Fresno Pacific University
- Located in a Very Strong Rental Market
- 7.05% Cash-On-Cash Return on Current Operations
Investment Overview
Marcus & Millichap is pleased to present the Cypress Point Apartments located in Fresno, CA. This unique opportunity, now available for the first time in over 20 years, presents a compelling case for investors seeking to maximize returns. With the potential to increase rental income by approximately 13% through interior renovations, this property promises substantial value enhancement. The property has a favorable assumable loan with approximately 9 years left with an interest rate of 3.16% interest only. At an attractive 5.04% cap rate on current operations and a promising 6.59% cap rate on proforma operations, Cypress Point is attractively priced, highlighting its strong cash-on-cash return of 7.05%. Boasting over 200 units in the Central Valley, it provides a substantial foothold in a desirable rental market. Cypress Point has 100% two-bedroom/one-bathroom units that range from 968-992 square feet. In addition, well-equipped common areas, including two swimming pools, on-site laundry (approximately 77% of the units have washer/dryer hookups), ample parking, enhance tenant satisfaction. Situated in a robust rental market, Cypress Point benefits from strong demand for housing, ensuring consistent occupancy and potential for rent growth.
Exclusively Listed By
Financing By
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