An aerial view of Sunset Sands Apartments in southeast Fresno, which sold for $10.95 million despite fire damage that displaced nearly a third of residents in recent years. (Courtesy Northmarq)
Northmarq’s Fresno investment sales team brokered the $10.95 million sale of Sunset Sands Apartment, a 96-unit multifamily property in southeast Fresno, despite challenges due to a fire that temporarily displaced nearly one-third of the complex.
The garden-style apartment community at 4585 E. McKinley Ave. was built in 1974. Northmarq represented seller XLNT Sunset Sands LP in the deal. The buyer was Bay Area-based SRI Cedar LLC.
Robin Kane, who led the deal with his son Brenden Kane, said a 2018 fire damaged 16 units, which forced ownership to rebuild and re-lease the apartments before closing the sale.
“The financials took a huge dent,” Robin Kane said. “We had to tell the story to the lenders. The reason income had dropped so much is because they lost almost 30% of the units.”
The three-alarm fire displaced 30-50 residents, reported The Fresno Bee. Four families at the complex were displaced in another fire in 2023, ABC reported.
Robin Kane said the transaction required educating lenders, appraisers and buyers about the property’s recovery and future income potential.
Despite the complications, Robin Kane said the property drew strong interest from a Bay Area investor who already was active in Fresno’s multifamily market.
The sale is Fresno’s largest multifamily transaction so far in 2026, according to Northmarq. The buyer looked at all of the rebuilt apartments as a long-term advantage because the upgraded units could improve tenant demand.