Northmarq brokers $4M sale of 46-unit Las Flores Apartments in Fresno
Image source: Northmarq
FRESNO, Calif. — Northmarq's Fresno Investment Sales team of Robin Kane and Brendan Kane arranged the $4 million sale of Las Flores Apartments, a 46-unit low-rise multifamily community at 3420 N. First St. in Fresno, California.
Northmarq represented the seller, a Bay Area investment trust. A private investor purchased the property.
“The extensive fire damage at Las Flores created a unique challenge, requiring us to find an all-cash buyer positioned to take on the necessary repairs,” said Robin Kane.
Built in 1971, Las Flores Apartments is located along North First Street, one of Fresno's most prominent residential corridors, offering high visibility and convenient access to major thoroughfares. Residents enjoy proximity to Manchester Center, River Park and Fashion Fair Mall, providing access to premier retail, dining and lifestyle destinations. The surrounding submarket benefits from consistent leasing demand fueled by proximity to top schools and major employers.
The Fresno market continues to demonstrate strong fundamentals, supported by sustained population growth, increasing household formation and ongoing infrastructure investments, including the city's planned high-speed rail station.
Meet our team
Northmarq is one of the largest privately held commercial real estate firms in the United States, combining a nationwide presence with deep local expertise. With more than 50 offices across the country, we provide a full suite of debt, equity, investment sales, loan servicing and fund management solutions for a comprehensive range of property types. Our unique structure allows us to connect clients with the best opportunities, yet be nimble enough to ensure access to every expert across our company. The firm manages a loan servicing portfolio of over $80 billion and has completed $91.3 billion in transactions over the past four years. At Northmarq, collaboration fuels results, helping clients achieve success in every market, nationwide.
