202-228 W Dakota Ave - Apartments FOR SALE


Fresno, CA 93705- Roeding Park
$11,620,000 USD
559-288-8803
202-228 W Dakota Ave, Fresno, CA for Sale
$11,620,000 USD
Apartments - FOR SALE
1/7
null | 6.12% Cap Rate

202-228 W Dakota Ave
Fresno, CA 93705
Roeding Park


HIGHLIGHTS

  • Value-add opportunity, with in-place rents averaging $1.31 per square foot, while other properties in the submarket achieve average rents of $1.52
  • Strategically located at 202 W. Dakota Avenue in the Old Fig Garden submarket
  • Garden Square features an attractive garden-style design with 83 spacious units across 12 buildings on 5.04 acres

OVERVIEW

Value-Add Opportunity Garden Square Apartments offers a notable value-add prospect, with current rents averaging $1.35 per square foot, compared to $1.52 per square foot at similar properties in the area. This discrepancy indicates significant potential for growth through targeted interior and exterior upgrades, enabling new owners to increase rents and generate immediate income growth. Prime Fresno Location with Strong Fundamentals Located at 202 W. Dakota Avenue in the Old Fig Garden neighborhood, Garden Square benefits from Fresno’s diverse economy, proximity to key employment hubs, and the upcoming High-Speed Rail project. This infrastructure development is expected to improve regional connectivity and support long-term economic growth. Excellent Access to Retail, Dining, and Amenities Residents enjoy excellent walkability and easy access to a variety of retail, dining, and entertainment venues, including River Park Shopping Center, Fashion Fair, and Fig Garden Village. The property’s strategic location ensures convenient access to daily necessities and lifestyle amenities, which enhances resident satisfaction and increases demand. Desirable Garden-Style Community Garden Square features a garden-style layout with 83 spacious units spread across 12 buildings on 5.04 acres. The community offers a mix of one-, two-, and three-bedroom units, with amenities such as on-site laundry, covered parking, patios or balconies, and a dedicated manager’s office, all within a well-maintained, park-like setting. Proven Unit Mix with Strong Demand The property’s unit configuration—from one-bedroom to three-bedroom layouts—appeals to a broad tenant base, including families and professionals. This aligns with the high demand for quality, affordable housing in Fresno’s expanding rental market

FOR SALE DETAILS

PRICE

$11,620,000 USD

PRICE/SF

$163 USD /SF

# OF UNITS

83

PRICE/UNIT

$140,000

CAP RATE

6.12%

% LEASED

96%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Garden Square Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1963

PARKING SPACES

100

LAND DETAILS

LAND ACRES

5.04 AC

LAND SF

219,542 SF

ZONING

R-2

APN/PARCEL ID

434-020-29,434-030-03

ASK ABOUT THIS PROPERTY

Robin KaneNorthmarqMore Info
559-288-8803

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Robin KaneNorthmarqMore Info
559-288-8803

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.