1431 E 21st St — Sale in Merced, CA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Merced, CA 95340

Investment Figures

Cap rate
5.73%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to present 19 units located at 1431 E 21st Street in Merced, CA. The property was built in 1981 and features (1) one-bedroom/one-bathroom that is approximately 775 square feet and (18) two-bedroom/one-bathroom units that are approximately 775 square feet each. The property has plenty of parking with open parking spots as well as street parking. The property has a laundry room for additional income. Property is separately metered for gas and electric. The Subject property is located off Yosemite Parkway and E 21st St. The property is very well maintained but mismanaged. Some of the units have been renovated with vinyl plank flooring and granite countertops. Currently the rents are 21% below the market. The property is located in a quiet residential neighborhood with easy access on and off of Freeway. The property is close to many schools: Charles Wright Elementary (0.4 miles), Herbert Hoover Intermediate (1 mile), Golden Valley High School (0.8 miles) and Merced College (3.7 miles). Priced at a 5.73% Cap Rate and 7.90 GRM on current operations, this property offers an investor a positive leverage opportunity to continue interior renovations and increase rents on turnover. This is a true value-add opportunity. Investment Highlights: • Favorable Unit Mix of (1) one-bedroom/one-bathroom and (18) two-bedroom/one-bathroom units • Well Maintained Building with Upside • Attractively Priced at a 5.73% Cap Rate and 7.12% Cap Rate on Proforma • True-Value Add Opportunity • Rents Currently 21% Below Market • Located in a quiet Residential Neighborhood

Market Context

This multifamily in Merced, CA is listed for sale. It is offered at an approximate 5.7% capitalization rate, a key benchmark for income-producing multifamily assets. It has been on the market for 87 days. Compare it against other multifamily listings for sale in Merced, CA — view the full market.

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