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Cypress Point Apartments (Assumable Loan) 1430-1632 S Chestnut Ave

224 Unit Block of Flats £28,798,499 (£128,565/Unit) 5.05% Net Initial Yield Fresno, CA 93702

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Investment Highlights

Opportunity to Increase Rental Income by Approximately 13% Via Interior Renovations
100% Two-Bedroom/One-Bathroom Units
Across The Street From Fresno Pacific University

Very Attractive Assumable Loan at 3.16% Interest Rate (interest only) with Approximately 9 Years Left
Single-Story Construction
Located in a Very Strong Rental Market

Executive Summary

Marcus & Millichap is pleased to present the Cypress Point Apartments located in Fresno, CA. This unique opportunity, now available for the first time in over 20 years, presents a compelling case for investors seeking to maximize returns. With the potential to increase rental income by approximately 13% through interior renovations, this property promises substantial value enhancement. The property has a favorable assumable loan with approximately 9 years left with an interest rate of 3.16% interest only. At an attractive 5.04% cap rate on current operations and a promising 6.59% cap rate on proforma operations, Cypress Point is attractively priced, highlighting its strong cash-on-cash return of 7.05%. Boasting over 200 units in the Central Valley, it provides a substantial foothold in a desirable rental market.
Cypress Point has 100% two-bedroom/one-bathroom units that range from 968-992 square feet. In addition, well-equipped common areas, including two swimming pools, on-site laundry (approximately 77% of the units have washer/dryer hookups), ample parking, enhance tenant satisfaction. Situated in a robust rental market, Cypress Point benefits from strong demand for housing, ensuring consistent occupancy and potential for rent growth. For investors seeking a well-positioned, income-generating property with value-add potential, Cypress Point represents a compelling opportunity

CypressPoint OM

Property Facts

Price	£28,798,499	Apartment Style	Garden
Price Per Unit	£128,565	Building Class	B
Sale Type	Investment	Lot Size	15.42 AC
Net Initial Yield	5.05%	Building Size	218,384 SF
Gross Rent Multiplier	10.29	Average Occupancy	97%
No. Units	224	Number of Floors	1
Property Type	Residential	Year Built	1980
Property Subtype	Apartment	Parking Ratio	1.4/1,000 SF

Price	£28,798,499
Price Per Unit	£128,565
Sale Type	Investment
Net Initial Yield	5.05%
Gross Rent Multiplier	10.29
No. Units	224
Property Type	Residential
Property Subtype	Apartment
Apartment Style	Garden
Building Class	B
Lot Size	15.42 AC
Building Size	218,384 SF
Average Occupancy	97%
Number of Floors	1
Year Built	1980
Parking Ratio	1.4/1,000 SF