8715 N Chestnut Ave - Chestnut Development Opportunity 2.2 Acres of Residential Land Offered at $2,580,200 CAD in Fresno, CA 93720

Northmarq is pleased to present the Chestnut Avenue Development Site, a fully entitled 2.20-acre multifamily development opportunity located at 8715 N Chestnut
Avenue in Clovis, California. Approved for 32 apartment units, this shovel-ready parcel allows a developer to immediately move forward with construction in one of the Central Valley’s strongest and most supply-constrained submarkets. Zoning would allow for as many as 45 Units.
Positioned within the acclaimed Clovis Unified School District, the site offers exceptional access to major employers, including Community Regional Medical Center, Clovis Community Medical Center, and California State University, Fresno. Its proximity to Highway 168 provides seamless connectivity throughout Fresno County, linking future residents to top-tier education, healthcare, and employment centers while maintaining a quiet suburban atmosphere.
Located in the high-growth Clovis submarket, the project is designed to meet robust housing demand supported by steady population and job growth, low vacancy rates,
and limited new supply. Clovis continues to outperform surrounding markets with annual rent growth between 4% and 5% and is strong in-migration driven by its reputation for safety, quality schools, and a family-oriented community environment. Offered at $1,900,000, the Chestnut Avenue Development Site gives investors the rare ability to bypass a lengthy entitlement process and deliver a Class A multifamily asset at an attractive cost basis. With full approvals in place and market fundamentals firmly in its favor, the property is well positioned for strong returns and long-term value creation in one of California’s most resilient multifamily markets.