Property DescriptionThis is a great opportunity to own 20 apartment units in a neighborhood comprising of (4) buildings on (2) APN's, (478-030-55 & 478-030-48). The (2) separate parcels have the gang mailboxes located at 2318 Martin Luther King Jr Blvd and shall be sold together. This neighborhood has seen significant revitalization and transformation over the last several years including recent construction of Gaston Middle School just a 1/2 block South of the property. King Elementary School is also just around the corner and Computech Middle School and Edison High School nearby. The unit mix on this complex includes 20 total units, (12)-2bd/1bath, single-story, (4)-2bd/2bath, townhouse w/laundry, (4)-3bd/2bath, townhouse w/laundry. All units are fully occupied. This sale includes Addresses 2318, 2328 & 2332 S Martin Luther King Jr Blvd.
- Property Type: 16 U
- Year Built:1985
- Square Footage:17104.00
- Lot Size: 48412.00 SqFt (1.11 acres)
- Baths:28.00 ()
- School District:Fresno Unified
- High School:Edison
- Junior High School:Bud Gaston
- Grade School:King
- Listing Broker:Harold Biltz
- Listing Office:Movoto Inc
Amenities / Utilities
- Tennis Court
A government loan program geared towards owner-occupied, first-time home buyers. Down payment can be as low as 3.5%. However, the buyer will have to pay the PMI (Principal Mortgage Insurance).
Down payment can be as low as 5%. For down payments lower than 20%, the buyer will have to pay PMI (Principal Mortgage Insurance). If the down payment is 20% or more, there will be no PMI charged to the buyer. When purchasing an owner-occupied property, interest rates may be lower as compared to purchasing an investment property. The limit for a conventional loan in Fresno County is $453,000. Loan limits are subject to change.
A loan above the conventional loan limit is considered a jumbo loan.