One of El Dorado Park’s most blighted properties has undergone a $2.5 million transformation.
The apartment complex formerly known as The Estates, 5358 N. 6th St., west of Bulldog Stadium, was demolished down to the studs in May and renovated into 46 furnished two-bedroom apartments for students at Fresno State.
William Ayyad, principal of San Diego-based United Development Group Inc., bought the property in April. The real estate investment firm has purchased and renovated several old apartment complexes in Fresno over the years. Its last project was a $500,000 renovation in 2012 of Sunset Sands Apartments at McKinley and Maple avenues
The Estates was boarded up and had trash and personal belongings in every unit, said Darla Rasmussen, regional property manager. Three people were living on the property. “It took us 30 days just to empty everything out and demo the interior,” she said.
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The private apartment complex, now called University Place, has two-bedroom apartments around 800 square feet, with stackable washer and dryer, renting for $400 a month per bed. A grand opening and open house will be held 10 a.m. to noon Monday.
Almost everything is new and energy efficient at University Place. The company built a bigger office. It turned the storage and laundry room into the Bulldog Chill Zone with computer lab, coffee bar and flat screen television.
The existing pool was converted into a baja-style with steps leading into the pool. An outdoor kitchen was built with barbecue, a lounge area, fire pit and television.
A drought-tolerant landscape was installed using succulents, decomposed granite and rock. The carports were turned into garages and the entire development is now gated.
“This is probably our biggest transformation we have done through the years,” Rasmussen said.
“We’re really excited to be here.”
University Place Grand Opening
10 a.m. to noon, Feb. 8
5358 N. 6th St., Fresno