Description

We are offering 2542 S Elm Avenue in Fresno, California, for sale at $995,000. The property is approximately 10.18 acres (about 443,441 square feet) of residential development land known as Tract 5786. That works out to about $97,741 per acre. The site is zoned Residential and carries Assessor's Parcel Numbers 479-020-36, 479-020-52.

The tract consists of two parcels with a tentative map, recorded maps and complete building plans for 24 two-story buildings with 96 apartment units. Paved roads, including Grove Avenue and Church Avenue, already lead to the site from neighboring developments, the land is free and clear, and an adjacent 0.4-acre lot is also available together or separately. The site is shovel-ready with utilities at the property, lies within an Opportunity Zone and allows reduced minimum setbacks and street improvements.

The land is near the intersection of Elm Avenue and Jensen Avenue, north of Jensen, east of Martin Luther King Jr Boulevard and south of Church Avenue. It is less than half a mile from the Highway 41 ramps, close to downtown Fresno and its large daytime workforce, and in a high rental demand market. Fresno is in Fresno County, part of the Fresno metropolitan area.

Jared Ennis and Kevin Land of Central CA Commercial represent this offering on behalf of ownership. We are glad to share the full offering memorandum, along with additional photos and property details, and to answer questions about the property and the surrounding area. Contact us to discuss the opportunity or to schedule a tour.