NOT LISTED FOR SALE

1331 N Wishon Ave Fresno, CA 93728

Tower District Neighborhood
17 Beds
17 Baths
8,268 Sq Ft
0.6 Acres

Last Sold August 02, 2023

Last sale price $717,500 $87 Per Sq Ft

24 Days on Market

Highlights

  • 0.6 Acre Lot
  • 1-Story Property
  • Central Air

About This Home

As of August 2023

This is a remarkable value-add development opportunity situated just a stone's throw from Fresno's lively Tower District. With a variety of restaurants, coffee shops, and stores within walking distance, the property benefits from its prime location between N. Wishon and E. Hedges Ave. Spanning an impressive 26,136 sq ft, the parcel includes an 8,268 sq ft building. Its highly desirable split zoning designation of RM2 & CMS allows for either high-density multifamily development or retail/office development. With respect to multifamily development, we envision dividing the building into 11 high-quality Class A units. The demand for multifamily rentals is strong, with rents surpassing $2.15/sq ft. Similarly, Class A retail/office building rents exceed $1.15 sq ft + NNN. Both scenarios offer comparable yields of 10%+, with the office option requiring significantly less capital allocation. The zoning provides the flexibility to convert the property to multifamily use in the future if it proves to be a more beneficial choice. The property also includes a spacious lot situated west of the building, presenting the opportunity to construct covered parking and additional tenant amenities. The building's layout features a unique courtyard, which can be transformed into a beautifully landscaped garden enhanced with BBQ areas and seating, thus adding further value to the property. The property's feasibility for design development was evaluated by Fresno's AIA Architect Scott Vincent.

Last Listed By

Amir Dehlan

Realty Concepts, Ltd. - Fresno License #01851777 Listed on: 07/07/2023

Realty Concepts, Ltd. - Fresno

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1953

Lot Details

  • 0.6

Parking

  • Uncovered Parking

Home Design

  • Brick Exterior Construction
  • Composition Roof
  • Concrete Perimeter Foundation
  • Stucco

Interior Spaces

  • 8,268 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 17 Bedrooms
  • 17 Bathrooms

Additional Features

  • 0.6 Acre Lot
  • Central Air

Community Details

  • 11 Units
  • Gross Income $213,314

Listing and Financial Details

  • Tenant pays for electricity, gas, water

Property Details

Home Type

Multi-Family

Year Built

Built in 1953

Lot Details

0

Listing Details

  • Type: Multi Family
  • Property Sub Type: 5 to 15 Units
  • Price Per Square Foot: 86.78
  • Year Built Exception: 0
  • Stories: One
  • Special Features: None
  • Year Built: 1953

Interior Features

  • Fireplace: None
  • Bathrooms: 17.00
  • Bedrooms: 17
  • Square Footage: 8268.00

Exterior Features

  • Roofing: Composition
  • Exterior: Stucco, Brick
  • Foundation: Concrete Perimeter

Garage/Parking

  • Additional Parking: Uncovered

Utilities

  • Gas And Electric: Public Utilities
  • Sewer/Water: Public Water
  • Heat/Cool: Central Heat/Cool

Condo/Co-op/Association

  • Association: Fresno MLS

Lot Info

  • Acres: 0.6000
  • Lot Measurement: Square Feet
  • Lot Size Sq Ft: 26136.00
  • Price Per Acre: 1195833.33

Building Info

  • Year Built: 1953

Rental Info

  • TenantPays: Electricity, Gas, Water

Multi Family

  • Annual Income: 213314.00
  • IncomeIncludes: Lease
  • Total Units: 11

MLS Schools

  • School District 2: Fresno Unified

Range of Values:

Collateral Analytics

Collateral Analytics Collateral Analytics AVMs (Automated Valuation Model) employ a number of statistical approaches combined with neighborhood-specific comparable selection guarantees the most up-to-date and precise valuations.

Not Available

Collateral Analytics does not have data for the current month. Please view the chart for historical values.

ICE

ICE Mortgage Technology ICE Mortgage Technology’s AVM (Automated Valuation Model) is a state-of-the-art online residential property valuation tool that provides a quick and accurate estimate of the value of almost any home in the U.S.

Not Available

ICE Mortgage Technology does not have data for the current month. Please view the chart for historical values.

First American

First American First American Data & Analytics’ next-generation AVM combines unrivaled data assets with a blended ensemble of valuation models to produce highly accurate, reliable valuations you can trust.

Not Available

First American does not have data for the current month. Please view the chart for historical values.

Quantarium

Quantarium Quantarium’s valuation service, repeatedly proven the industry’s most accurate and comprehensive, is supercharged with a self-learning and auto-tuning AI engine that continually becomes smarter and more accurate as it processes daily inputs from the industry’s leading RE data lake.

Not Available

Quantarium does not have data for the current month. Please view the chart for historical values.

Average Value
Not Available
List Price
Sold Price
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/02/2023 08/02/23 Sold $717,500 -10.3% $87 / Sq Ft
07/31/2023 07/31/23 Pending -- -- --
07/07/2023 07/07/23 For Sale $800,000 -- $97 / Sq Ft
Source: Fresno MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Amir Dehlan

    Seller's Agent in 2023

    Amir Dehlan

    Realty Concepts, Ltd. - Fresno

    (559) 217-2120

    1 in this area

    61 Total Sales

    Amir Dehlan
    Section Image
See All Agents

Map

Source: Fresno MLS

MLS Number: 597033

Fresno MLS

California Fresno County Fresno 93728 Tower District

1331 N Wishon Ave, Fresno, CA

Homes for Sale in Fresno, CA

This home is located at 1331 N Wishon Ave, Fresno, CA 93728 since 07 July 2023. This property was built in 1953. 1331 N Wishon Ave is a home located in Fresno County with nearby schools including Muir Elementary, Fort Miller Middle School, and Fresno High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Fresno MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

Nearby Homes