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4801 Fruitvale Avenue

Updated Nov 21, 2025

Grove Fruitvale LLC And Cottonwood Grove LLC Acquire Multifamily Properties For $61.62M In Bakersfield And Clovis
SOLDMultiFamily

Grove Fruitvale LLC And Cottonwood Grove LLC Acquire Multifamily Properties For $61.62M In Bakersfield And Clovis

4801 Fruitvale Avenue & 732 North Clovis Avenue

$61,620,000

Units

292

Asset Type

MultiFamily

Closing

Nov 18, 2025

About this deal

AI

The transaction involves two multifamily properties located at 4801 Fruitvale Avenue in Bakersfield and 732 North Clovis Avenue in Clovis. The combined sale price of these assets is $61,620,000, with a total of 292 units, equating to a price per unit of $211,027 in the Bakersfield and Clovis markets.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $61,620,000
  • Buyer: Grove Fruitvale LLC & Cottonwood Grove LLC
  • Seller: Austin Herzog - Ideal Capital Group
  • Brokers: Robin Kane & Brendan Kane - Northmarq
  • Units: 292
  • Price per Unit: $211,027

Northmarq’s Fresno team facilitated the separate sales of The Grove in Bakersfield for $28.25 million and Cottonwood Grove in Clovis for $33.37 million. Both properties were purchased by family office buyers, and the transactions involved loan assumptions from CalHFA.

On the Map

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$61,620,000

MultiFamily

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Players

Robin Kane

NorthMarq

Broker

$122.6M

vol

6 deals

Broker
NorthMarq
NorthMarqBrokerage

Austin Herzog

Ideal Capital Group

Seller

$402.7M

vol

4 deals

Seller
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Bakersfield MultiFamily Market Snapshot

Boundary boundary · MultiFamily · Sale transactions

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Deal FAQ

About $211K per unit across 292 units on a published $61.6M (2025).

Visit Robin Kane to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.26%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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