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8555 Aman Street - San Joaquin Townhomes - 46 Units, San Joaquin, CA

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8555 Aman Street - San Joaquin Townhomes - 46 Units

San Joaquin, CA 93660 - Outer Western Fresno County MF Submarket

Property Type:Multi-Family Number of Units:46 Status:Existing Year Built:-
Stories:2 Building Size:41,920 SF Land Area:2.92 AC (127,195 SF)
For Sale Price:$5,500,000 Price/Unit:$119,565.22 Cap Rate:5.18 % GRM:-

Parking:2.28 Parking Spaces / 1,000 SF

Sale Notes:
The San Joaquin Townhouse property consists of 46 townhome units, each on its own parcel, currently being operated as a "market rate" apartment complex. The City of San Joaquin is located just 35 miles west of the City of Fresno near Interstate 5 and State Highways 33, 180, 145, 41 and 99. With its beautiful agricultural landscapes, its vistas of both the West Coast Range and Sierra Nevada Mountains and its close proximity to major urban centers, the City of San Joaquin is a vibrant cornerstone within the County of Fresno. The current owner has owned and managed the property since it was developed in 2008 and this is the first time on the market. The property has been meticulously maintained and historically enjoys full occupancy with a wait list of market rate tenants. There is no deferred maintenance,
landscaping is professionally maintained and there is a onsite manager. The owner has documentation prepared for Department of Real Estate approval to establish a HOA which will allow a new buyer the option of selling individual units to interested buyers at market rate. The City of San Joaquin offers a First Time Home Buyer Down Payment Assistance Financing.

The San Joaquin Townhome property is a mapped 46-lot townhome community presently operated as a market rate apartment property located in the northeastern section of the City of San Joaquin, Fresno County, California. There are 50 separate parcels: 4 Common Area Parcels totaling 20,384-square feet and 46
Residential Parcels totaling 106,935- square feet. Approximately 2.455-acres with 46 two-story buildings totaling approximately 49,120-square feet of
rentable space. The Northeast sector of the City of San Joaquin is the next planned residential growth area for the City with over 90-acres recently annexed into the city for residential development. One of the Central Valley's largest homebuilder has pulled permits to build 18 new single family homes and has plans approved for a five (+/-) acre subdivision. Both projects are across the street west and north of the townhome site.

Marcus & Millichap
Ronald Swim
(559) 476-5581

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