Incredible investment opportunity in Fresno's Tower District. This property is 100% occupied with gross monthly rents totaling $3,650.
There are two offices downstairs and a 2 bedroom, 1 bathroom apartment upstairs. Ample parking lot includes 6-10 stalls.
616 N Fulton St - Gross Rent $1,000/mo - Office occupied by non-profit
618 N Fulton St - Gross Rent $1,200/mo - 2 Bedroom 1 Bathroom Apartment
620 N Fulton St - Gross Rent $1,000/mo - Office occupied by non-profit
Owner's current monthly expenses include:
$78 - Trash/water/sewer
$383.33 - Insurance
$147.91 - PG&E (LL responsible for 25%. this is the average based on last year's PG&E)
$200 - Repairs/Maintenance
$237.50 - Property Tax(net after reimbursement for cell tower reimbursement)
Annual NOI - $28,239
6.64% CAP Rate
Cell tower on property does not provide income. Seller currently pays property tax for cell tower and is reimbursed by that company for property tax portion of cell tower.