NOT LISTED FOR SALE

4554 E Olive Ave Fresno, CA 93702

Huntington Neighborhood
3 Beds
1 Bath
852 Sq Ft
1.44 Acres

Last Sold October 11, 2022

Last sale price $1,250,000 $1,467 Per Sq Ft

66 Days on Market

Highlights

  • 1.44 Acre Lot
  • Fenced Yard
  • Central Air
  • Corner Lot
  • 1-Story Property

About This Home

As of October 2022

Presenting a great investment opportunity with lots of upside potential for savvy investor that rarely becomes available. Westfall Mobile Park is family owned business for over 35 years. First time for sale as seller is looking to retire. This is a great cash flow property that will provide a great stability while adding to an existing investment portfolio. There are currently 26 spaces and 1 that has not been used for total of 27. In addition there is a 3bed/1bath home on the property that has been used as an owner residence but can be used as a an office, great for manager unit or yet another rental. The property already has over 9% CAP rate and potential pro forma CAP rate of 10.57% which is unheard of in current market. After some necessary improvements and new vision this property creates a great opportunity for hands off ownership. Please do not walk grounds and do not interrupt tenants.

Last Agent to Sell the Property

Paul Gestic

Fresno Income Properties License #01376488 Listed on: 07/12/2022

Last Buyer's Agent

Roy Cordova

Fresno Income Properties License #01944933

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1928

Lot Details

  • 1.44 Acre Lot
  • Fenced Yard
  • Corner Lot

Parking

  • Uncovered Parking

Home Design

  • Wood Foundation
  • Composition Roof

Interior Spaces

  • 852 Sq Ft Home
  • 1-Story Property

Bedrooms and Bathrooms

  • 3 Bedrooms
  • 1 Bathroom

Utilities

  • Central Air
  • Cooling System Mounted To A Wall/Window

Community Details

  • 27 Units
  • Gross Income $186,960

Listing and Financial Details

  • Tenant pays for electricity, gas, cable TV

Property Details

Home Type

Multi-Family

Year Built

Built in 1928

Lot Details

0

Listing Details

  • Type: Multi Family
  • Property Sub Type: 16 Units & More
  • Price Per Square Foot: 1467.14
  • Year Built Exception: 0
  • Stories: One
  • Special Features: None
  • Year Built: 1928

Interior Features

  • Fireplace: None
  • Bathrooms: 1.00
  • Bedrooms: 3
  • Square Footage: 852.00

Exterior Features

  • Yard: Fenced
  • Roofing: Composition
  • Exterior: Other
  • Foundation: Wood Subfloor

Garage/Parking

  • Additional Parking: Uncovered, More than One Space

Utilities

  • Gas And Electric: Public Utilities
  • Sewer/Water: Public Water
  • Heat/Cool: Central Heat/Cool, Window or Wall A/C

Condo/Co-op/Association

  • Association: Fresno MLS

Association/Amenities

  • Site Amenities: Corner

Lot Info

  • Acres: 1.4444
  • Lot Measurement: Square Feet
  • Lot Size Sq Ft: 62920.00
  • Price Per Acre: 865411.24

Building Info

  • Year Built: 1928

Rental Info

  • TenantPays: Electricity, Gas, Cable TV

Multi Family

  • Annual Income: 186960.00
  • IncomeIncludes: Unit Rent, Month to Month
  • Total Units: 27

MLS Schools

  • School District 2: Fresno Unified

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/11/2022 10/11/22 Sold $1,250,000 0.0% $1,467 / Sq Ft
09/16/2022 09/16/22 Pending -- -- --
08/12/2022 08/12/22 Off Market $1,250,000 -- --
07/22/2022 07/22/22 Pending -- -- --
07/12/2022 07/12/22 For Sale $1,196,000 -- $1,404 / Sq Ft
Source: Fresno MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $16,958 $1,300,500 $910,350 $390,150
2023 $16,003 $1,250,000 $875,000 $375,000
2022 $4,958 $376,148 $188,074 $188,074
2021 $4,825 $368,774 $184,387 $184,387
2020 $4,805 $364,994 $182,497 $182,497
2019 $4,624 $357,838 $178,919 $178,919
2018 $4,526 $350,822 $175,411 $175,411
2017 $4,450 $343,944 $171,972 $171,972
2016 $4,307 $337,200 $168,600 $168,600
2015 $4,243 $332,136 $166,068 $166,068
2014 $4,150 $325,630 $162,815 $162,815
Source: Public Records

Agents Affiliated with this Home

  • Paul Gestic

    Seller's Agent in 2022

    Paul Gestic

    Fresno Income Properties

    (559) 438-9425

    12 in this area

    136 Total Sales

    Paul Gestic
    Section Image
  • Roy Cordova

    Buyer's Agent in 2022

    Roy Cordova

    Fresno Income Properties

    (559) 317-4380

    5 in this area

    70 Total Sales

    Roy Cordova
    Section Image
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Map

Source: Fresno MLS

MLS Number: 581368

Fresno MLS

APN: 454-072-06

California Fresno County Fresno 93702 Huntington

4554 E Olive Ave, Fresno, CA

Not Listed for Sale

MultiFamily

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