$10,000 Closing Credit¹
#626138, Desrie Van Putten, Listing Office: Valley Harvest Properties
$1,399,999 List price
2702 E Hedges Ave Fresno, CA 93703
$10,000
Closing credit¹
20 beds
10 baths
5,500 sqft
1.0 acres
$255 / sqft
Multi-Family
Property details
About 2702 E Hedges Ave
Rarely does an opportunity come along that checks all the boxes for both immediate cash flow and long-term upside. This fully stabilized 10-unit multifamily property is generating $93,000 in actual NOI, offering a solid 6.64% cap rate on day one.What sets this property apart is the included vacant lot with city-approved plans to build an additional 5 units. Once developed, projected net operating income increases to $145,000+, pushing the pro forma cap rate to 10.3%+📍 Key Features:10 Turnkey Units - Fully Rented$12,000 Monthly Gross Income$93,000 Annual NOICity-Approved Lot for 5 Additional UnitsPro Forma NOI: $145,000+Cap Rate Today: 6.64%Cap Rate After Buildout: 10.3%+Low Maintenance | Stable Tenants | Room to Raise RentsLocated in a high-demand rental corridor in Fresno, this property is ideal for 1031 buyers, value-add investors, or developers looking to expand their portfolio with cash flow now and scalable upside built in.Don't miss this opportunity to own a high-performing asset with entitlement leverage already in place. Buy it. Build it. Bank it.
Highlights
Home typeMulti Family
HeatingFloor Furnace
StatusActive
CoolingWall/Window Unit(s)
Size5,500 sqft
Lot size0.955 Acres
Year built1942
ParkingUncovered
MLS #628721
Summary
- MLS Number: 628721
- MLS Name: Fresno Multiple Listing System
- Office Name: Nicholas Bien, Broker
- Office Phone: (559) 260-3068
- Office Email: nick@bienproperties.com
- Listing Agent: Harbhavnik Singh
Based on information from the Fresno Association of REALTORS® (alternatively, from the Fresno MLS). All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be
interested in purchasing.
Copyright 2025 Fresno Association of Realtors. All rights reserved.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/21/2025, 2:20:50 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Get an agent. Get a mortgage. Save big.¹
$1,399,999
2702 E Hedges Ave
$10,000
closing credit¹
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Seller rebate
0.5% sale price²
Price information
Property sales
| Date | Event | Price |
|---|---|---|
| Dec 02, 2022 | Home Sold | $1,100,000 |
Tax history
| Year | Assessment | Property Tax |
|---|---|---|
| 2024 | $1,122,000 | $14,177 |
| 2023 | $1,100,000 | $14,177 |
| 2022 | $93,118 | $1,425 |
| 2021 | $91,293 | $1,392 |
| 2020 | $90,358 | $1,386 |
| 2019 | $88,587 | $1,317 |
| 2018 | $86,851 | $1,317 |
| 2017 | $85,149 | $1,323 |
History based on county public records data.
Nearby schools
5
Webster Elementary School
Public District KG-6
0.3 mi
•2600 E Tyler Ave
4
Mayfair Elementary School
Public District KG-6
0.6 mi
•3305 E Home Ave
7
Anthony Elementary School
Public District KG-6
0.8 mi
•1542 E Webster Ave
School ratings are a score out of 10, where 10 is the highest and 1 is the lowest.
Neighborhood
The neighbors living near this home have an average income of $33,871. Typical income of Fresno, CA residents is less than $<35k annually. Residents typically live in single, no kids family. The majority of residents in this area have high school diploma education.
How much money do the neighbors make?
51%
<35k
49%
35k-100k
0%
100k-200k
0%
200k+
What level of education do the neighbors have?
High School Diploma
Post Secondary Degree
Masters Degree
What types of families live nearby?
38%
Single, No Kids
25%
Single, with Kids
9%
Married, No Kids
28%
Married, with Kids
Are the neighbors home owners or renters?
Home Owners
Renters
How old are people in this area?
23%
<11 yrs old
10%
12-17 yrs old
28%
18-34 yrs old
32%
35-64 yrs old
7%
65+ yrs old
What do the neighbors do for fun?
Mexican League Soccer
Pro Boxing
Major League Soccer (MLS)
Where do the neighbors shop?
Foot Locker
Ross Dress For Less
H&M
Where do the neighbors go to eat?
Little Caesars
Jack In The Box
Boston Market
What do the neighbors drive?
Dodge
Nissan
Honda
What do the neighbors listen to?
Urban Adult Contemporary
Rhythmic Contemporary Hits
All data provided by Home Junction and Claritas
Similar homes for sale
This home is located at 2702 E Hedges Ave in Fresno, CA and zip code 93703 in the Fresno High-Roeding neighborhood. This 5,500 square foot home, which was built in 1942, sits on a 0.95 acre lot. Features: 20 bedrooms, 10 bathrooms. It has been listed on Rocket Homes since April 16, 2025 and is currently priced at $1,399,999.
In March 2025 more than 103 listings in Fresno, CA were sold above the asking price. During the same period more than 77 listings were sold at asking price, while more than 109 were sold below. The number of homes for sale in Fresno, CA increased by 9.7% between February and March 2025. The median list price of listings available in March 2025 was $399,684, while the average time on the real estate market was 33 days.
From Rocket Homes Real Estate and based on county public records data.