Puneet Bhargava

Great Investment opportunity in Fresno California. This property is priced to sell. At this price it will sell quickly. The current rents are 75k per year. The 5 units are one bedroom and one bath. Units have been updated with single handle tub & shower faucets, luxury vinyl flooring, fresh new paint, new lighting fixtures including switches & plugs by Decora. All water heaters have been replaced with permits. Some rental Increases are scheduled in the next 3 months making this property a great value. Make offers subject to inspection, Please do not disturb tenants.

Call Puneet Bhargava, DRE# 01859500, Tel# 559-274-7025 OR Email: puneetfresno@ gmail.​com.​ This is a five (5) unit apartment complex, 4 units are on HA voucher.​ Rent is as follows Unit A $1041, Unit B $1,204, Unit C $1041, Unit D $1041 Unit E $861 Total Rent is $ 5188, All units are 1 bed 1 bath.​ Fresno HA Voucher goes up to $1308, Rent can be increased by 9.2% total potential rent will be $5,665 once rent is increased.​ Current Gross Rent is $ 62,256; Current Annual Expenses as per owner is --$13,455 Cap Rate---$ 625/$599,000 X 100 = 8.14% (Cap Rate must be recalculated by Buyer and Agent).​ All units are occupied, carport for 5 cars, nice property; Lots of potential; Great passive income.​ Pictures are from when the units were vacant on July 20th, 2023, due to tenant privacy there are no recent pictures available.​ Future potential rent will be $650/mth, which is the maximum amount of rent by HA for a 1-br.​ The HA voucher amount is $1308 monthly.​ In that case, the cap rate will be $78,000-$13,455/$599.000 x 100 = 10.7%.​ Tenant Pays Electricity and gas; Income Includes the unit’s rent; Expenses Include insurance, water, sewer, and taxes.​ Sources of Income/Expenses: Owner Short Sale: No; REO/Bank Owned: No Listing is contingent on the seller finding a replacement property.​ No additional Debt on the property at this time.​ Agent Remarks: Written offers are subject to inspection, do not disturb tenants.​

Puneet Bhargava

About Puneet Bhargava

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Recent property sales & transaction history

3 properties

Fresno

Family Home

$450,000 to $650,000

1,700 ft² to 2,500 ft²

Properties for sale by listing agent Puneet Bhargava

$270,000

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Puneet Bhargava

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