Las Gardenias

Fresno, California, nestled in the heart of the San Joaquin Valley, is a vibrant city brimming with cultural diversity, historical charm, and natural beauty. As the fifth-largest city in California, Fresno serves as a bustling hub for commerce, agriculture, and education. The city has been experiencing significant growth across various sectors, reflecting its status as a major urban center in the Central Valley. While it's historically known for its traditional agricultural base, Fresno has seen growth in industries such as healthcare, education, manufacturing, and technology. This diversification has contributed to job creation and economic resilience. Despite experiencing significant growth, Fresno remains one of the most affordable options for renting or buying a home when compared to neighboring cities to the north and south.ALIVE Commercial Real Estate is pleased to exclusively present 1030-1040 S 8th street, a charming 22-unit multifamily building located in one of California's fastest growing submarkets, Fresno, CA. Situated in a quiet residential neighborhood, the property boast an attractive unit mix of (10) one-bedroom one-bathroom, (11) two-bedroom one-bathroom and (1) three-bedroom two-bathroom floor plans, all with vaulted ceilings and varying renovations done throughout. The community is highly amenitized with gated entry, on-site laundry and carport covered parking, all while being within two miles of downtown Fresno. While the property has been well-maintained and cared for, the current rents are well below the competitive market for similar floor plans. A new owner will have the opportunity to stabilize the property at the defendable "pro forma" rents without having to infuse a significant amount of capital for renovations. Additionally, there is a large storage room adjacent to the laundry room that is ripe to be converted into an ADU. The foundation, siding and roof are already in-place, making the cost-to-convert less expensive than most ADU additions. The combination of location, defendable upside in rents and well-maintained physical structure make this a fantastic investment for the next savvy investor.