Villa Capri Apartments 1985 N Winery Ave 28 Unit Apartment Building $5,985,408 CAD ($213,765 CAD/Unit) Fresno, CA 93703

EXECUTIVE SUMMARY
Villa Capri presents a significant opportunity for investors to capture immediate upside through a comprehensive interior modernization program. Current average rents of $1,318 per unit are substantially below the pro forma market rents of $1,501+, representing a nearly 14% gap. With several nearby competitors achieving rents as high as $1,695 for similar unit types, a strategic renovation of kitchens, bathrooms, and flooring will allow a new owner to reposition the asset and significantly increase the Net Operating Income (NOI).
PRIME FRESNO LOCATION NEAR MAJOR ECONOMIC ANCHORS
The property is strategically located at 1985 N Winery Ave, placing it within the immediate sphere of Fresno’s most vital educational and retail hubs. It is situated just minutes from California State University, Fresno (25,000+ students) and Fresno City College, providing a consistent pool of student and faculty renters.
RESILIENT MULTIFAMILY MARKET WITH STRONG GROWTH FORECASTS
The Fresno multifamily market continues to show robust performance. Asking rents in the Central Valley grew by 1.8% annually, and forecasts indicate continued appreciation through 2026. With vacancy rates remaining exceptionally tight—reaching as low as 2.5% in neighboringcounties—Villa Capri is well-positioned to benefit from the region’s chronic undersupply of quality rental housing.
DYNAMIC REGIONAL EMPLOYMENT AND ECONOMIC EXPANSION
Fresno serves as the economic heart of the Central Valley, recently adding 7,600 new jobs—the largest net gain in the region. The local economy is supported by a diverse array of industries, including healthcare, education, and a massive logistics sector anchored by Amazon, Target, and Walmart. The recent $150 million expansion of the Fresno Yosemite International Airport (FAT) further solidifies the area as a growing hub for commerce and travel, driving sustained household formation and rental demand.
DESIRABLE UNIT MIX AND OPERATIONAL EFFICIENCY
Villa Capri features a highly efficient unit mix, with 92% of the property comprised of spacious two-bedroom floor plans (split evenly between 2BD/1BA and 2BD/2BA). This configuration is the most sought-after in the Fresno market, appealing to a wide range of renters from small families to roommates. The two-building, garden-style layout on a 0.93-acre site offers a manageable scale for investors, while the uniform floor plans help minimize ongoing maintenance and turnover expenses.
COMPELLING YIELD PROFILE AND FAVORABLE FINANCING
Offered at $4,400,000 ($157,143/unit), Villa Capri provides an attractive entry point with a projected Pro Forma Cap Rate of 6.98% and a Cash-on-Cash return of 7.30%. These metrics compare favorably to recent regional sales, offering a superior yield for a well-located asset. Investors can leverage proposed financing at 65% LTV with a 5.50% interest rate, creating a stable and lucrative investment vehicle for both immediate cash flow and long-term capital appreciation.