multi family

Multi Family Homes for Sale in Fresno CA

Multi-family homes are made up of a single building divided into separate units. Such homes can range from duplexes, typically featuring two dwellings within a single building, to multi-unit complexes, such as condominiums or townhomes.

Owners of multi-family homes often choose to live in one of the units and rent out the others, acting as an on-site manager. This is a convenient way to reduce personal living expenses. However, many investors also choose to live elsewhere and hire a professional property manager to oversee their rental properties.

Multi-family units can be an extremely lucrative real estate purchase. Fortunately, their growth opportunities often far outweigh their initial investment cost.

Calling all investors! This property has many great opportunities. Currently with 2 occupied homes on one lot this property has so much opportunity to grow into something so much bigger. Sitting on a 1.1 acre lot with RM3 zoning this property has the potential to have up to 16 units on it (Buyer to verify)! So whether you want to keep the property as it is now and slowly grow it or develop it into a large multi family property this is a great opportunity for you. So what are you waiting for? Call your realtor today!Front Unit 1,100 sqft back unit is 390 sqft Buyer to verify $250,000 Active

11431 11th Avenue Hanford, California

3 Beds 2 Baths 1,490 SqFt 1.100 Acres

The property you been waiting for is here.. Live in one and rent the other.. Each unit has its own 1 car garage. Plenty of backyard for the kids. New swamp cooler and toilet on one unit. tile throughout both units. Paver all around the duplex which makes this an easy maintenance. Come check it out before it is gone. $295,000 Active

1524 E Belgravia Avenue Fresno, California

2 Beds 1 Baths 1,254 SqFt 0.136 Acres

Fantastic commercial/multi-family opportunity in Reedley. 1.01+ acres, has a well and septic. Home is being rented for $500 a month, but has little value. Value is in the land. City is in need of low income housing and apartments. Owner may carry. $325,000 Active

1620 E Dinuba Avenue Reedley, California

2 Beds 1 Baths 896 SqFt 1.015 Acres

Experience the best of both worlds with this stunning duplex property in Tipton. With two spacious units, this property offers an incredible opportunity for investors or homeowners looking to generate rental income. Plus, the property is located in a quiet, family-friendly neighborhood, making it a great place to live or invest. First unit is a 3 bedroom 2 bath and the other a 2 bedroom 1 bath. Whether you're looking to build your investment portfolio or create the perfect home for your family. Don't miss out on this amazing opportunity! $325,000 Active

405 W Spencer Tipton, California

3 Beds 2 Baths 1,200 SqFt 0.270 Acres

Fowler, prime location: Units consist of 2 bedrooms, 1 bath, laundry room, large private backyard.. The units show pride of ownership and have mature landscaping. Close to schools, new medical space developemnet, and easy access to the freeway. $325,000 Active

114 W Fresno Street Fowler, California

4 Beds 2 Baths 1,362 SqFt 0.161 Acres

Calling All Investors! Here is an opportunity to own a 1.3 acre parcel that is zoned a triplex. with some TLC these 3, 2 bd 1 bath homes could be great rentals with a nice cash flow. You could live in one and rent the other 2. They each have their own address, electric hookup and septic tanks. There are endless possibilities with Reedley College just 2.1 miles down the street and 6.1 miles to Hwy 180. One of the homes has had a fire within the last 1.5 years. This is a cash sale, property is being sold as is. $335,000 Active

6712 S Reed Avenue Reedley, California

6 Beds 3 Baths 2,000 SqFt 1.377 Acres

Perfect Investment Opportunity. Don't miss out on your chance to own a fully occupied duplex with a huge potential in upside in rents. This duplex consists of one 3 bed 2 bath unit with a 1 car garage. This unit has an open concept, feels very spacious between living room and kitchen. There is plenty of cabinets in kitchen along with granite counter tops. Bathrooms are fully remodeled with granite counters and tile shower in master. The second unit consists of 2 bedrooms 1.5 bathrooms and it features an open concept. Home is very well maintained, has a nice sized backyard and a front porch. This property has plenty of concrete space for tenants to park, both units have Central Hvac systems and a composition roof. Call today for more details. $359,900 Active

1604 N Locust Street Visalia, California

5 Beds 4 Baths 1,740 SqFt 0.152 Acres

Turn-key investment opportunity! Existing structure is a triplex, which offers 3 separate units each featuring 3 bedrooms, 2 bathrooms, and approximately 1,125 sqft, all on a 17,000 sqft lot. The structure was built and nearly finished in 2007 at which time there was a fire, which caused damage to the back two units. Sale includes the building plans for the remodel, which have been approved by the City of Madera and permits have been issued. Section 8 vouchers for 3 bedroom apartments are currently approaching $2,000 a month, with comparable rental properties renting for similar pricing. This is a rare value-add opportunity for an investor and/or developer looking to build equity and generate substantial cash flow through the completion of the existing triplex and the potential development of an ADU. $375,000 Active

314 Lilly Street Madera, California

9 Beds 6 Baths 3,375 SqFt 0.390 Acres

DUPLEX... 2 large Two Bedroom / 2 Bath units. Each unit feels like a townhome and would be great to live in one or rent out both units. Central HVAC, indoor laundry, patios, large living rooms, sliding patio doors that access carports. Both units are tenant occupied, current rents are below market. Market rents are much higher. This is a great opportunity. $379,000 Active

808 E Kaweah Avenue Visalia, California

4 Beds 4 Baths 2,016 SqFt 0.179 Acres

ISOLATION and SERENITY! If that's what you're looking for this property is perfect for you! Bring multiple families if needed... It offers two separate homesites located on 32.39 acres. Only 19 miles from Coalinga, 207 miles from SF and 219 from LA. The lower homesite is a 960 sf manufactured home built in 2003 that consists of 3 bedrooms and 2 bathrooms, jetted tub, large kitchen that opens up to the living room with vaulted ceilings, skylight, indoor laundry. It has it's own septic and well. For working or building, it also offers a shop with electric, shed and corrals. Too much family to fit in the house ... no problem, the cozy travel trailer located right next door is perfect for those out of town guests. Enjoy relaxing evenings on the deck drinking hot chocolate, making smores and in those wet years, listening to the creek flowing nearby! Approximately 100 feet up the hill is the second homesite which offers a newly remodeled 1026 sf manufactured home built in 2001, which consists of 2 bedrooms and 2 bathrooms, jetted tub, kitchen that opens up to the living room with vaulted ceilings and skylight for natural lighting, indoor laundry, all electric, full length porch deck to sit out at night gazing at the stars, covered carport, separate septic and well, storage shed and tank house. This is a fabulous deal for the price considering you're getting three living quarters! Hurry and schedule your private tour today as this won't last long! $397,000 Active

46760 Los Gatos Road Coalinga, California

5 Beds 4 Baths 1,986 SqFt 32.390 Acres

Presenting a Duplex in the highly sought after Tower District. This premium duplex, situated in Fresno's most desirable neighborhood, presents an unparalleled opportunity for local and out-of-town investors alike. With each unit featuring 2 bedrooms and 1 bathroom, this property is poised to impress. Nestled within a short stroll of renowned dining establishments, trendy shops, eclectic bars, and an unforgettable nightlife scene, this duplex encapsulates the essence of urban/Tower living at its finest.Investors seeking to expand their portfolio need not look further. The Tower District's unwavering demand for rental properties ensures consistent occupancy rates and a lucrative stream of rental income. Imagine the financial rewards of acquiring a property that not only appeals to long-term tenants but also offers the potential for highly profitable short-term rentals, catering to the area's thriving hotspot. Don't miss your chance to secure this remarkable opportunity, as the clock is ticking, and this exceptional real estate gem won't stay on the market for long. $450,000 Active

1135 N Glenn Avenue Fresno, California

4 Beds 2 Baths 1,872 SqFt 0.155 Acres

Downtown 4 plex on historic Van Ness Ave available now! The property is fully rented earning an excellent income.Inquire for financial information.This property will earns income TODAY. Also the property's location offers an opportunity for a short term rental business with close proximity to downtown and the Tower District. $469,000 Active

114 N Van Ness Avenue Fresno, California

5 Beds 4 Baths 2,368 SqFt 0.132 Acres

Types of multi-family homes

There are several types of multi-family homes and each home is unique in terms of living space and layout. The different types include:

Condos

A condo is a unit owned within a complex that is made up of other individually owned units. Condo owners usually pay a monthly fee to a homeowners association to cover the cost of upkeep and the various services and amenities included. 

Semi-detached house

Semi-detached homes often share one wall with another home. These homes are often more affordable than a free-standing single-family home. Semi-detached homes are cheaper to maintain since the owners of the properties often share maintenance expenses on the exterior of the units.

Duplex/Triplex

A duplex refers to two units connected via a floor, ceiling, or a common wall. A triplex is made up of three units. In both cases, each unit usually has its own private entrance and a separate garage and/or yard.

Townhome

Townhomes are much like condos, however, they often consist of more than one level per unit and are much more spacious. Like condos, townhomes require a lot less maintenance than single-family homes since exteriors and amenities are usually managed by a homeowners association. 

Who are multi-family homes best for?

Multi-family homes are a great choice for multi-generation families who are interested in owning property together while still enjoying their personal space. Such homes range from two- to four-units and are convenient for extended families looking to live under one roof while enjoying privacy and benefits that often come with a single unit.

Multi-family homes for sale are also great for real estate investors. Those who are looking at investing in real estate to generate future income/wealth could find multi-family homes a smart investment. However, it is important to remember that one must be prepared for the time commitment and responsibilities that come with being a landlord. 

An added benefit is that it can enable you to live cost-free in one unit while renting out the other units to generate income. This approach helps cancel out monthly living expenses, quickly boosting your overall return on investment. When the entire mortgage is covered by rental income, not only are you living rent-free, but the property also becomes a lucrative stream of passive income.

Advantages of multi-family homes

Owning a multi-family home allows you to reap numerous benefits. Some advantages of owning a multi-family home are:

Tax benefits

The Internal Revenue Service offers several tax breaks for landlords such as the ability to deduct property taxes, mortgage interest, and repair/maintenance costs related to the property. All expenses can be deducted from your taxes when the home is considered a rental, but not when you are living in it as your primary residence. By reducing income, such write-offs help numerous investors save immensely on their annual income taxes.

Rental income

This is one of the major benefits of owning a multi-family home. As the property generates income from tenants, the income assists in offsetting ownership costs. Also, if the price is right, the extra rental income can often help owners invest in more rental units, ultimately creating a much larger real estate portfolio. Multi-family homes also often appreciate at a much higher rate which is advantageous to homeowners, helping them create a greater return on their investment. 

Building a community

Multi-family homes are a great way to build a strong sense of community. When a complex maintains great tenants and everyone bonds well, renters usually stay at the property for multiple years, helping to generate a long-term, stable income stream.

More cash flow

Numerous units in one property result in more cash flow. Each additional family unit increases profit, allowing owners to make more money in comparison to a single-family property.

Tips for buying multi-family homes

Multi-family homes for sale are a great investment since each individual unit can be rented out to generate income. However, it should still be noted that owning rental units can prove to be challenging if you purchase blindly or without previous knowledge or experience. At The Dehlan Group, we are very skilled in all aspects of multi-family homes purchases and can help make sure you do not make costly mistakes. Some key points to consider are:

Choose location wisely

Simply put, location is key. Being able to identify the best location and keeping an eye out for the best deal are key factors in purchasing a multi-family unit. The location of the property should ideally be in a family-friendly community with close proximity to shopping, schools, medical care and entertainment. Easy-access communities are ideal; if tenants have trouble getting to the property from main streets/freeways, they will often go for another, more convenient option. The safety rating of the neighborhood is also very important and should be thoroughly considered.

Overestimate expenses

Investing in a multifamily home often presents unexpected expenses. When planning a purchase or remodeling/repair budget, it is wise to overestimate expenses so that you are prepared for all scenarios. This helps to ensure that you are not left with an expensive or costly surprise.

Inspect the unit thoroughly before purchasing 

Before buying a multi-family home, it is important to make sure to perform proper inspections and ensure all maintenance is completed and up to code. Any deferred maintenance can mean additional costs for you since you will be responsible for the extra repairs after you have purchased the property. Being proactive in this area can save you a ton of money and increase your return on investment more quickly. 

Work with an experienced real estate agent 

When purchasing a multi-unit property, there are some significant differences from single-units that should be considered during the buying process. It is crucial to work with a qualified real estate agent who is familiar with the specifics of multi-family homes. Our agents at The Dehlan Group are happy to guide you through the entire purchasing process. We have the skills and knowledge necessary to guarantee a smooth transaction and to make sure you are making a wise investment. 

Multi-family homes are a great investment 

Investing in a multi-family home is a perfect way to grow your real estate portfolio while simultaneously bringing in additional income. Depending on the number of units purchased, a multi-family property can either be a passive income side project or a massive undertaking. We recommend only purchasing a property size that you can comfortably manage and afford. 

If you are ready to purchase a multi-family home in Fresno, California, we recommend reaching out to our experienced real estate professionals at The Dehlan Group to get started today. You can trust our agents to help you make suitable investment decisions and locate the perfect property to add to your real estate investment portfolio.