Property Overview:
4901 N Crystal Ave is a multi-family apartment complex (5+ units) located in Fresno, CA 93705, built in 1969. The property features 16 units with a total of 34 bedrooms, 21 bathrooms, and 14,796 sq. ft. of living space on a 0.83-acre lot. The property last sold for $1,800,000 on 09/30/2019.
Neighborhood Highlights:
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Crime Rate:
- Slightly high overall crime risk; 8 criminal and sex offenders within 1 mile.
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Schools:
- Nearby schools include Wawona Middle, Bullard High, Powers Ginsburg Elementary, Slater Elementary, Fairmont Private School of Fresno, and Grace Christian Schools.
- Schools are considered above average.
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Amenities:
- Close to grocery stores (Borges USA, Food Maxx, Save Mart), coffee shops (Starbucks, Teazer World Tea Market), and restaurants (Jack In The Box, DiCicco’s Italian Restaurant, Rock & Noodles).
- Near Oso de Oro Park, Lions Park, and Wilson Park.
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Natural Disaster Risk:
- Medium earthquake risk
- Very low tornado risk
- Minimal flood risk
Property Features:
- 16 garden-style units in 3 single-story buildings with cedar shake mansards.
- Unit Mix:
- 10 Two-Bedroom, One-Bath Units (6 with garages, 2 with washer/dryer hookups)
- 4 Two-Bedroom, Two-Bath Units (1 with garage)
- 1 Three-Bedroom, Two-Bath Unit (with garage)
- 1 Four-Bedroom, Two-Bath Unit (with garage)
- Parking:
- 17 open/covered spaces
- 8 garages
- Amenities:
- Two units with fireplaces
- Average unit size: 913 sq. ft.
- Assumable loan available (short term)
- Recent renovations underway
Investment Highlights:
- Net rentable area: 14,600 sq. ft.
- Cap Rate:
- 5.55% current
- 7.90% proforma
- Located in the desirable Fig Garden submarket
- Multiple floor plans and garage options for tenants
Location Benefits:
- Convenient access to shopping, dining, parks, and schools
- Desirable neighborhood for families and professionals
- Public transportation and major roads nearby