Marcus & Millichap is pleased to present the Shields-West Apartments located in Northwest
Fresno. Built in 1966, the complex is 57 units totaling 45,312 square feet on a 146,880
square foot lot. The building is single-story construction and has a very favorable unit mix
of (33) one-bedroom/one-bathroom units that are 780 square feet and (24) two-bedroom/
one-bathroom units that are 880 square feet. All the units are individually metered for gas
and electric. All the bedrooms have large walk-in closets and ceiling fans.
The property attracts young professionals and families alike with large spacious units and
close proximity to shopping and restaurants. The property has (2) laundry facilities with six
washers and six dryers that the owner leases. The property is very well maintained and easy
to manage. There is a carport for each tenant and forty-eight open spaces. There is great
upside for a new owner to upgrade interiors (plank flooring, black appliances and resurface
counter tops) to increase rents.
Located in Northwest Fresno, Shields-West is conveniently located around shopping,
restaurants, schools and public transportation. The property is walking distance to CVS
and 1mile from Westlan Shopping Center (Savemart, Starbucks and Dollar Tree). Across
the street from the property is public transportation. Roeding School is 0.4 miles from the
subject property as well as Cooper Middle School.
Priced at a 5.83% Cap Rate on current operations, the subject property gives an investor a
great value-add opportunity to upgrade the interiors and increase rents.