Northmarq’s Fresno Investment Sales team has arranged the sale of a small multifamily community in Fresno’s Bullard submarket, marking a transition from a long-term owner to a local buyer. The team, led by Robin Kane and Brendan Kane, brokered the $2.23 million transaction for the property located at 1550 W. Swift Ave. in Fresno. Northmarq represented the seller, a Colorado-based family office, while the buyer is identified as a local family office.
The asset at 1550 W. Swift Ave. consists of 18 multifamily units distributed across three separate buildings. According to Northmarq, the property totals 18,296 rentable square feet on a site of approximately 0.83 acres. All of the residences are configured as two-bedroom, two-bathroom units, positioning the community to serve renters seeking larger floor plans within a low-rise setting.
Commenting on the transaction, Robin Kane noted that the seller had held the property for many years, underscoring the long-term ownership profile behind the offering. Kane added that the asset presented what he described as a strong opportunity for repositioning, supported by what he characterized as a favorable location with positive rent growth. The statement highlights both the duration of prior ownership and the buyer’s potential to pursue a value-add or repositioning strategy.
The Bullard submarket setting is a key feature of the investment thesis for the property. The community provides access to several of Fresno’s more prominent retail destinations, including River Park Shopping Center, Fig Garden Village and Fashion Fair Mall. This cluster of shopping and dining options enhances the property’s appeal for residents seeking proximity to daily needs and regional retail amenities.
In addition to retail connectivity, the location offers access to major local academic institutions. The community is situated near Fresno State and Fresno City College, which may support ongoing demand from students, faculty, staff and other residents drawn to nearby educational employment and enrollment bases. The combination of retail and educational nodes in the surrounding area contributes to the property’s long-term positioning within the Bullard submarket.
The sale underscores continued multifamily transaction activity involving private family office capital on both sides of the deal. With a long-held asset changing hands and Northmarq’s investment sales team in Fresno facilitating the transaction, the property is now set for a new phase of ownership, with the buyer positioned to pursue the repositioning and rent growth potential cited by the brokerage team.
