Overview

Description

Tract 5786 consists of two parcels totaling ±10.18 Acres (±443,441 SF) with tentative map & complete building plans. The development features (24) two-story, 96-unit multifamily buildings planning to be constructed in 2024 on a ±10 acre lot, with a total building size of ±131,376 square feet. Parcels are located in a fantastic area for residential and multi-family housing due to the close proximity to many surrounding schools. Offers many nearby commercial amenities as well as multiple newly developed apartment complexes such as Legacy Commons, Martin Luther King Square Apartments, Summercrest Apartment Homes, Geneva Village, Westgate Gardens & many others! Project consists of (24) freestanding buildings with two different building types to produce (48) 3-bedroom units, and (48) 4-bedroom units. The project provides ample parking with 1 1/2 cars per unit (188 spaces), 146,892 SF of open space, of which 49,329 SF has active open space, 20' setbacks, and plans for a quality rod iron fence. The property offers an investor the opportunity to acquire an attractive turnkey asset in a healthy and centrally located submarket within the San Joaquin Valley. The Fresno Housing market has a median rent of $1,395 which is 31% lower than the national median.


These parcels are located just off Highway 99 and 41 - north of E Jensen Avenue, east of SMLK Jr. Blvd., south of E Church Avenue and W of S Elm Street in Fresno, California. The site is close to downtown Fresno and Fresno's industrial/manufacturing development area with many daytime employees. Fresno, California is the fifth largest city in the state and is located in the heart of the San Joaquin Valley. It is a vibrant city with a diverse population and a thriving economy.

Highlights

• ±10.18 Acres (±443,441 SF) of Vacant Land Zoned Residential
• Approved Tract 5786 Development For Sale
• Tentative Map - 96 Multifamily Apartment Units
• Complete Building Plans & Recorded Maps
• Located In a High Rental Demand Market
• Allows Reduction in Minimum Setbacks & Street Improvements
• Shovel-Ready w/ Utilities @ Site & Within Opportunity Zone
• Convenient and Close Access to Highway 99 & 41
• Regional Retail Developments Just Minutes Away
• Near Major Corridors servicing College, Airport, Downtown, & Schools

Documents

---