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707 E Shields Avenue

Fresno, CA 93704
  • $399,000
  • STATUS: Active
  • ON SITE: 13 Days
  • ID#: 589525
$399,000
  • 4
    BEDS
  • 0.23
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 1,809
    SQFT
  • $221
    $/SQFT
Neighborhood:
704
Type:
Multi-Family
Built:
1954
County:
Area:
704

School Information

Elementary School:
Middle School:
High School:
School District:

Description

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.

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© 2023 Fresno Multiple Listing Service, Inc. IDX information is provided exclusively 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. 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. Data last updated: 2023-01-31T23:47:03.263.
www.yourfresnorealty.com/homes/136145742
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707 E Shields Avenue Fresno, CA 93704

  • Price: $399,000
  • Status: Active
  • On Site: 13 Days
  • ID#: 589525
4
Beds
2
Baths
0
½ Baths
0.23
Acres
1,809
SQFT
$221
$/SQFT
1954
Built
Neighborhood:
704
County:
Fresno
Area:
704
Elementary School:
Del Mar
Middle School:
Fort Miller
High School:
Fresno
School District:
Fresno Unified
Property Description
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.
Exterior Features

Exterior Other Parking One Space Per Unit Region Urban Roofing Composition Site Amenities Corner

Interior Features

Dishwasher None Fireplace All Units Floor Wood Subfloor Heating And Cooling Central Heat/Cool Stories One Stove All Units

Property Features

Annual Expense 2056.00 Annual Income 23800.00 Cross Street Address Wishon & Shields Documents Available Floor PlanLeasesCash Flow Analysis Expenses Include InsuranceTaxes First Loan Type Non-Assumable Gas And Electric Public Utilities Income Includes Unit RentOther Lease Type Net Lot Measurement Sqft Lot Size Source (Tax Records) Net Income 21744.00 Property Subtype1 Duplex Reo Or Bank Owned No Sale Options Total Parcel Only Sewer Water Public WaterPublic Sewer Square Footage Source Tax Records Tenant Pays ElectricityGasWaterSewerTrash Collection Terms ConventionalCash Transaction Type Sale

Listing provided courtesy of Aram Melikian of Real Broker: jason@joinreal.com;619-248-6434.


© 2023 Fresno Multiple Listing Service, Inc. IDX information is provided exclusively 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. 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. Data last updated: 2023-01-31T23:47:03.263.
 
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