Cypress Point — Sale in Fresno, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Fresno, CA 93702

Investment Figures

Cap rate
5.67%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present the Cypress Point Apartments located in Fresno, CA. This unique opportunity, now available for the first time in over 20 years, presents a compelling case for investors seeking to maximize returns. With the potential to increase rental income by approximately 13% through interior renovations, this property promises substantial value enhancement. The property has a favorable assumable loan with approximately 9 years left with an interest rate of 3.16% interest only. At an attractive 5.04% cap rate on current operations and a promising 6.59% cap rate on proforma operations, Cypress Point is attractively priced, highlighting its strong cash-on-cash return of 7.05%. Boasting over 200 units in the Central Valley, it provides a substantial foothold in a desirable rental market. Cypress Point has 100% two-bedroom/one-bathroom units that range from 968-992 square feet. In addition, well-equipped common areas, including two swimming pools, on-site laundry (approximately 77% of the units have washer/dryer hookups), ample parking, enhance tenant satisfaction. Situated in a robust rental market, Cypress Point benefits from strong demand for housing, ensuring consistent occupancy and potential for rent growth. Investment Highlights: • Opportunity to Increase Rental Income by Approximately 13% Via Interior Renovations • Very Attractive Assumable Loan at 3.16% Interest Rate (interest only) with Approximately 9 Years Left • 100% Two-Bedroom/One-Bathroom Units • Single-Story Construction • Across The Street From Fresno Pacific University • Located in a Very Strong Rental Market • 7.05% Cash-On-Cash Return on Current Operations

Market Context

This multifamily in Fresno, CA is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 86 days. Compare it against other multifamily listings for sale in Fresno, CA — view the full market.

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