**Prime Development Opportunity: Phase 2 of Fancher Creek Mall Development with 60 Units in Fresno, CA****Shovel-Ready Status**: This project comes shovel-ready, allowing the buyer to move forward immediately post-permit approval. Civil (onsite & offsite), Building (MEP, Structural & Architectural), Fire & Fire Sprinkler, Solar and PG&E + ALL APPROVED!All plan check fees have been paid for by the seller & buyer/builder to pay for permits and development fees**Market Rental Rates**: This Fresno Area market commands an average rent of $1,850 per month for outdated 2-bedroom, 2-bathroom units. Newer units in this development are projected to yield $2,100 per month.**Financial Metrics**: Our seller's proforma indicates an enticing 8.9% Cap Rate. However, we strongly recommend buyers to conduct their own comprehensive due diligence. Comprehensive Development Budget & Operational Budget Available During Due Diligence Period.
609579
Land, Business Opportunities, Other
Fresno
2.24
Acres
Public
Public Sewer
97,574
Sq. Ft.
School Information
Fresno Unified
Southeast
Kings Canyon
Sunnyside
Exterior / Lot Features
- Zoning
- CMX
Driving Directions
The property is located on N. Clovis Ave. approximately 0.25 Miles North of E. Tulare Ave and approximately 0.30 Miles south of Belmont Ave.
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