Photo via Loopnet
A restored eight-unit apartment community in downtown Fresno’s Mural District has hit the market for $1.225 million, offering investors a renovated historic property with modern amenities.
Bungalow Court, at 950 Divisadero St., is being marketed by Northmarq’s Robin Kane for $153,125 per unit. Originally built in the 1920s and extensively restored in 2012, the property features six two-bedroom cottages and two additional two-bedroom apartments.
Kane said the property is well suited for smaller investors.
“It was a unique asset,” Kane said. “It’s easy to manage, stays full and has been completely renovated from the studs outward while preserving its historic character.”
The 2012-restoration included rebuilt structures, updated interiors with granite countertops, wood-style flooring, ductless air conditioning, tankless water heaters and in-unit washer and dryer hookups. Exterior amenities include landscaped grounds, a gated entrance and a shared courtyard with a barbecue area.
Kane said the property’s unique architectural style helps separate it from more conventional apartment complexes.
“There are people who want to live somewhere with character instead of just four walls,” he said. “You get the appeal of a historic property without the maintenance headaches because everything has been redone.”
Kane said continued investment in the Mural District should help sustain renter demand, particularly among younger residents seeking an urban lifestyle. He said walkability, bike access and shorter commutes continue to attract tenants to renovated downtown properties despite fewer nearby retail amenities.