475 N Manila Avenue, Fresno, CA 93727

Property Description

Vista Del Loma Apartments - 37 units on three Fresno County parcels (APNs 313-291-09, 313-291-05, 313-291-06), built 1972-1975. Thirty-five two-bedroom/one-bath units plus one three-bedroom and one studio. 33,744 rentable SF on 1.56 acres, two pools, 22 garage spaces, on-site laundry, private patios, RM1 zoning. Clovis Unified School District. Owner's January-December 2025 operating statement reports $547,368 of collected rental income, $142,628 of operating expenses and $404,740 net operating income - a 6.48% return at the current tax assessment and 5.59% once reassessed at the purchase price under California Proposition 13. The owner funded $63,632 of unit renovation during 2025 and the income has not yet caught up to it. The three APNs can be financed in tranches or divested individually - useful flexibility for a 1031 exchange buyer. 431 and 415 N Manila adjoin; 475 sits to the north, separated by two parcels under other ownership. All income and expense figures are owner-reported, unaudited and subject to buyer verification. Rent roll and trailing-twelve operating statements available upon execution of a confidentiality agreement. Appointment only - please do not disturb tenants or on-site staff.