707 E Shields Avenue

Fresno, CA, 93704

$399,000

$220 per ft²
$399,000
$220 per ft²
Active
Active
 - For Sale
beds
4 Beds
baths
2 Baths
carpenters-square
1,809 ft²
property_type
Multi-family
calendar
Built 1954
Welcome to this 2 unit Duplex with office zoning! 707 E Shields and 3220 N Wishon. This property is currently a 5.4% cap ($21,744 net annual income), with low rents and a pro forma cap rate of 9.1% ($36,694 net annual income). Each unit is 2 bedrooms 1 bath with a fireplace + a bonus room/office and a living room. Besides normal maintenance, this property was renovated in 2017 complete with tile plank flooring, baseboards and granite countertops. Also the kitchen and bathroom was updated in 3220 N Wishon. Each unit has their own central heating and cooling systems and there is a large garage with laundry hookups on site as well. There is additional paved parking for 2 vehicles behind the house with ally entrance. One tenant currently occupies both units for a total of $1,850/month NNN + $150 Tax & Insurance reimbursements ($2,000 total monthly). The NNN reimbursements gets readjusted annually or when a new lease is signed. The current tenant lives in 3220 and operates his business out of 707. The current lease expiration for both units is April 30,2023. The market rents for the entire building are $3,000 + $500 NNN reimbursements ($3,500 monthly). I have attached both the actual and pro forma P&L on MLS along with several photos, floor plan and site plan as well. Please drive by only, do not disturb the tenant, offer subject to inspection.
MLS® ID:
589525
Listed:
1/17/23
Updated:
1/31/23

Interior Features

Total Bedrooms
4
Total Bathrooms
2

Exterior/Building Features

Lot Size
10,018 ft² lot
Exterior Features
Other
Roof
Composition
Sewer
Public Water, Public Sewer

School Information

School District
Fresno Unified
High School
Del Mar
Middle/Jr High
Fort Miller
Elementary School
Fresno

Other Property Details

Area Name
704
Garage
Yes
Garage Spaces
1
Parking
One Space per Unit
View
N
County
Fresno
Pool
No

Courtesy of Real Broker, Aram Melikian,
Listing Contact: jason@joinreal.com;619-248-6434 

All properties are subject to prior sale, change or withdrawal. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data last updated 1/31/23 7:37 PM UTC.

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