ASHBROOK EAST l FRESNO, CA l 50 UNITS
Marcus & Millichap and Jon Mimms are pleased to announce the $3.2 million sale of a 50-unit multifamily investment property located in east Fresno, CA. Ashbrook East was built in 1972 and consists of of eight buildings that have a great unit mix of 15 one-bedroom/one-bathroom units that are 750-square feet and 35 two-bedroom/one-bathroom units that are 900-square feet. Highlighted amenities feature a sparkling pool and a large courtyard with mature landscaping in addition to large laundry room that generates additional income.
Priced at a 6.24 CAP rate and 8.30 GRM on current income, the subject property represents a position leverage opportunity to add value through upside in rents.
Seller and buyer were both represented by Jon Mimms.