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Fresno Low-Rise Trades to Private Buyer in All-Cash Deal
Northmarq’s Fresno Investment Sales team of Robin Kane and Brendan Kane arranged the $4-million sale of Las Flores Apartments, a 46-unit low-rise multifamily community at 3420 N. First St. in Fresno. Northmarq represented the seller, a Bay Area investment trust. A private investor purchased the property.
“The extensive fire damage at Las Flores created a unique challenge, requiring us to find an all-cash buyer positioned to take on the necessary repairs,” said Robin Kane.
Built in 1971, Las Flores Apartments is located along North First Street, one of Fresno’s most prominent residential corridors, offering high visibility and convenient access to major thoroughfares. Robin Kane added, “Fresno’s multifamily market is supported by sustained population growth and increasing household formation, which contribute to renter demand. Even properties requiring substantial rehabilitation can attract investor interest when the opportunity is matched with a buyer prepared to undertake the necessary work.”
- ◦Sale/Acquisition
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