Description

We are offering 32989 Weatherly Ln in North Fork, California, for sale at $615,000, or about $179.40 per square foot. The property is a 3,428-square-foot single-story four-unit apartment building built in 1976 on approximately 0.112 acres. The site is zoned CUM (Commercial, Urban, Median District).

All four units were fully remodeled in 2023: a two-bedroom of about 1,000 square feet currently run as a short-term rental, a three-bedroom of about 1,228 square feet and two one-bedroom units of about 700 and 500 square feet. Each unit has a fenced patio and private entrance and is separately metered for gas and electricity. The property has on-site laundry, parking, solar panels and county sewer and water. Current net operating income is $41,904, a 6.81% cap rate, and we project a 9.48% cap rate on about $81,000 in rents.

The property is at Weatherly Lane and Minarets Road, the main route into the Sierra National Forest, in North Fork near the geographic center of California. Bass Lake and Oakhurst are an easy drive away. North Fork is in Madera 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 and the rent roll and income history, 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.