Family Office Acquires Fresno Apartments from Long-Term Owner
Northmarq’s Fresno Investment Sales team, led by Robin Kane and Brendan Kane, brokered the $2.23-million sale of 1550 W Swift Ave., an 18-unit multifamily property located at 1550 W. Swift Ave. in Fresno. The Northmarq team represented the seller, a Colorado-based family office. The buyer was a local family office.
“This was an asset held by the seller for many years,” said Robin Kane. “It presented the perfect opportunity for re-positioning in a strong location with positive rent growth.”
The 18-unit property comprises three buildings totaling 18,296 rentable square feet on 0.83 acres. It offers offers two-bedroom, two-bathroom units.
Located in Fresno’s Bullard submarket, the community offers access to several prominent retail destinations, including River Park Shopping Center, Fig Garden Village and Fashion Fair Mall. The property is also located near local academic institutions such as Fresno State and Fresno City College.
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Brokers
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Remax Professionals
Re/Max Real Estate Professionals | New York
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout