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Outrigger 3830-3850 E Ashlan Ave 25 Unit Apartment Building $5,373,600 CAD ($214,944 CAD/Unit) Fresno, CA 93726
Investment Highlights
- LONG TERM OWNER
- GATED ENTRANCE
- EXCELLENT CURB EXPOSURE
Executive Summary
EXECUTIVE SUMMARY
PROVEN CASH FLOW WITH UPSIDE
25-unit, 100% 2BR/1BA community with current average rents of $1,328 vs. market rents of $1,395, providing immediate in-place income and clear mark-to-market upside.
ATTRACTIVE BASIS & RETURNS
Offered at $3,925,000 ($157,000/unit; $180/SF) with a pro forma cap rate of 6.24% and in-place cap rate of 5.76%, plus projected 5.17% cash-on-cash and 1.41x DSCR at 65% LTV.
HIGHLY FUNCTIONAL UNIT MIX
All 25 units are 2BR/1BA, approx. 870 SF, aligning with strong workforce renter demand and providing efficient operations with a simple, repeatable floor plan.
CENTRAL FRESNO LOCATION
Positioned along E Ashlan Ave in the McLane submarket, with convenient access to major arterials (41, 168, 180),employers, retail, dining, and services.
DEMAND DRIVERS: EDUCATION & HEALTHCARE
Close to Fresno State University, Fresno City College, and multiple regional hospitals (Clovis Community, Kaiser, Fresno Heart & Surgical, Valley Children’s), supporting durable renter demand.
COMPETITIVE POSITION VS. COMPS
Price per unit and price per SF are in line with or below comparable Central Valley trades (e.g., Chateau San Jose,La Hacienda, Yardley Gardens), while offering superior rent growth potential from current $1.53/SF toward peer averages above $1.60–$1.70/SF.
STABILIZED YET VALUE-ADD
Clean, functional interiors (updated flooring, white cabinets, classic finishes) allow for light-touch upgrades to push rents while minimizing downtime and capital risk.
PROVEN CASH FLOW WITH UPSIDE
25-unit, 100% 2BR/1BA community with current average rents of $1,328 vs. market rents of $1,395, providing immediate in-place income and clear mark-to-market upside.
ATTRACTIVE BASIS & RETURNS
Offered at $3,925,000 ($157,000/unit; $180/SF) with a pro forma cap rate of 6.24% and in-place cap rate of 5.76%, plus projected 5.17% cash-on-cash and 1.41x DSCR at 65% LTV.
HIGHLY FUNCTIONAL UNIT MIX
All 25 units are 2BR/1BA, approx. 870 SF, aligning with strong workforce renter demand and providing efficient operations with a simple, repeatable floor plan.
CENTRAL FRESNO LOCATION
Positioned along E Ashlan Ave in the McLane submarket, with convenient access to major arterials (41, 168, 180),employers, retail, dining, and services.
DEMAND DRIVERS: EDUCATION & HEALTHCARE
Close to Fresno State University, Fresno City College, and multiple regional hospitals (Clovis Community, Kaiser, Fresno Heart & Surgical, Valley Children’s), supporting durable renter demand.
COMPETITIVE POSITION VS. COMPS
Price per unit and price per SF are in line with or below comparable Central Valley trades (e.g., Chateau San Jose,La Hacienda, Yardley Gardens), while offering superior rent growth potential from current $1.53/SF toward peer averages above $1.60–$1.70/SF.
STABILIZED YET VALUE-ADD
Clean, functional interiors (updated flooring, white cabinets, classic finishes) allow for light-touch upgrades to push rents while minimizing downtime and capital risk.
Property Facts
| Price | $5,373,600 CAD | Building Class | C |
| Price Per Unit | $214,944 CAD | Lot Size | 0.85 AC |
| Sale Type | Investment | Building Size | 26,216 SF |
| No. Units | 25 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1966/2023 |
| Apartment Style | Low-Rise | Parking Ratio | 0.96/1,000 SF |
| Zoning | R3 | ||
| Price | $5,373,600 CAD |
| Price Per Unit | $214,944 CAD |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.85 AC |
| Building Size | 26,216 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1966/2023 |
| Parking Ratio | 0.96/1,000 SF |
| Zoning | R3 |
Amenities
Unit Amenities
- Kitchen
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 25 | $1,864 CAD | 800 |
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Property Taxes
| Parcel Number | 436-080-40 | Improvements Assessment | $2,707,251 CAD |
| Land Assessment | $320,989 CAD | Total Assessment | $3,028,241 CAD |
Property Taxes
Parcel Number
436-080-40
Land Assessment
$320,989 CAD
Improvements Assessment
$2,707,251 CAD
Total Assessment
$3,028,241 CAD
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Outrigger | 3830-3850 E Ashlan Ave
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