$3,750,000
Tulare, CA 93274
MLS# 244113
28 beds | 15 baths | 17780 sqft
1 / 8
Property Description
25 unit apartment complex close to schools, shopping and public transportation. Rents have room for increases and property has undergone renovations in 2024 with previous owner (over $450K in upgrades). New flooring, granite countertops in kitchen/bathroom suites, new dual-paned windows, repainted inside and outside, new electric sub-panels and security systems ahve been installed. On-site laundry can bring in additional revenue (not included in pro-forma). There is a large yard area that is currently used as a shared open space for tenants that can be utilized for construction of 12-14 new units (buyer to verify with City of Tulare). Eight units are upstairs inmain building and remaining units downstairs or in single level buildings. One building is a duplex that contains a 3/1 unit with indoor laundry hook-up and 2 car garage (possibly for in-site manager at reduced rent). With a proposed CAP of 6.35, this gives a nice return and still has upside potential with a few additional cosmetic improvements. Perfect investment for mid-sized investors and for 1031 exchanges.
Details
Maps
Property Information
Property Sub-Type: Multi Family
New Construction: No
Year Built: 1961
Year Built Source: Public Records
Number of Buildings: 4
Number of Units: 25
Street #: 340-352
Stories: 2
Approx Square Feet: 17780
Direction: S
Bedrooms: 28
SqFt Source: Owner
Street Name: Blackstone
Lot Acres: 1.8
Suffix: Street
Total Baths: 15
Lot SqFt: 78408
Lot Size Source: Public Records
Lot Dimensions: 002: IRREGULAR 003: APPRX 140' X 110'
State/Province: CA
Zip Code: 93274
APN: 177100002
County: Tulare
Additional Parcels Y/N: Yes
Additional Parcels Description: 177100003
Common Interest: None
Area: Tulare SE
Listing Information
Original List Price: 3750000
List Price/SqFt: 210.91
Current Price: $3,750,000
Status: Active
Listing Date: 2026-09-15
Listing Price: 3750000
Showing Information
Directions to Property: South on Highway 99, Tulare Ave exit (87), slight right onto Tulare Ave headed west, left on Blackstone, approx 1 mile, property on left (east) side
Remarks
Marketing Remarks: 25 unit apartment complex close to schools, shopping and public transportation. Rents have room for increases and property has undergone renovations in 2024 with previous owner (over $450K in upgrades). New flooring, granite countertops in kitchen/bathroom suites, new dual-paned windows, repainted inside and outside, new electric sub-panels and security systems ahve been installed. On-site laundry can bring in additional revenue (not included in pro-forma). There is a large yard area that is currently used as a shared open space for tenants that can be utilized for construction of 12-14 new units (buyer to verify with City of Tulare). Eight units are upstairs inmain building and remaining units downstairs or in single level buildings. One building is a duplex that contains a 3/1 unit with indoor laundry hook-up and 2 car garage (possibly for in-site manager at reduced rent). With a proposed CAP of 6.35, this gives a nice return and still has upside potential with a few additional cosmetic improvements. Perfect investment for mid-sized investors and for 1031 exchanges.
General Information
Basement YN: No
Garage: Yes
# of Garage Spaces: 2
Attached Garage YN: Yes
Carport YN: Yes
Pool: No
HOA: No
Senior Community: No
Fireplace: No
Direction Faces: West
Solar YN: No
Handicap Access: No
Financial Information
Cap Rate: 6.35
Unit 1
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1200
Unit Description: 340/A
Unit 2
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1300
Unit Description: 340B
Unit 3
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1100
Unit Description: 340C
Unit 4
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 950
Unit Description: 340D/Studio
Unit 5
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1195
Unit Description: 340E
Unit 6
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1075
Unit Description: 340F
Income Includes
Dollar Per Unit: 150000
Unit 7
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: No
Total Rent: 1250
Unit Description: 340G
Unit 8
Number of Bedrooms: 3
Number of Bathrooms: 1
Level: First
Garage Spaces: 2
Lease: Yes
Total Rent: 1400
Unit Description: 342H
Unit 9
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1300
Unit Description: 342I
Unit 10
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 775
Unit Description: 352-1
Unit 11
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1200
Unit Description: 352-2
Unit 12
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: No
Total Rent: 1250
Unit Description: 352-3
Unit 13
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1200
Unit Description: 352-4
Unit 14
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1200
Unit Description: 352-5
Unit 15
Number of Bedrooms: 2
Number of Bathrooms: 1
Level: First
Lease: Yes
Total Rent: 1095
Unit Description: 352-6
Status Change Info
Status Change Date: 2026-09-15
Property Features
Unit 8: Garage Attached
Utilities: Cable Connected; Electricity Connected; Natural Gas Connected; Phone Connected; Satellite TV; Sewer Connected; Water Connected
Water: Public
Sewer: Public Sewer
Cooling: Ceiling Fan(s); Gas; Separate Meters; Wall/Window Unit(s)
Heating: Wall Furnace
Roofing: Composition
Income Includes: Rent Only
Expenses Include: Gardener; Legal; Maintenance; Professional Management; Vacancy Allowance
Tenant Pays: Cable TV; Electricity; Gas
Owner Pays: Trash Collection; Water
Water Heater: Gas
Laundry Features: Common Area
Listing Terms: 1031 Exchange; Cash; Conventional
Parking Features: Detached Carport; Open; Parking Lot; Asphalt
Road Frontage Type: City Street
Supplements
full 25 unit list available, please contact listing agent for remaining units.
IDX
Listing Office: Randy Tellalian, Broker
Listing Agent: Randy E Tellalian | rtell@hotmail.com
Agent Email: rtell@hotmail.com
Last Updated: September - 15 - 2026
Information deemed reliable but not guaranteed.