Address
1725-1735 W North Bear Creek Drive, Merced, CA
Price
$ 1,995,000
Property Attributes
- MLS#224066701
- TypeIncome
- CountyMERCED
- CityMerced
- AreaMerced
- Zip95348
- Style
- Price$ 1,995,000
- Bedrooms8
- Full Bathrooms4
- Half Bathrooms4
- Lot Size0.5168 Acres
Data Source:
MetroList MLS
Property Description
Discover an exceptional investment opportunity at 1725-1735 West North Bear Creek Drive, Merced, CA. This 12-unit complex features spacious two-bedroom, one-and-a-half-bathroom townhome-style apartments, all with central HVAC, covered and uncovered parking, and an on-site laundry room. With units currently below market rent, this property offers significant value-added potential. Proforma projections show an annually increasing cap rate from the current 6.23% to 7.07% (Year 1), 7.84% (Year 2), and 8.03% (Year 3 - Market Rent). Merced's growing demand for quality rental housing suggests a steady stream of potential tenants, providing the potential for reliable rental income and low vacancy rates. Located in the heart of Merced, CA, the apartment complex at 1725-1735 West North Bear Creek Drive is situated in the Merced City Elementary School District, appealing to families seeking quality education for their children. The surrounding area is bustling with retail and dining options around 16th St., including Costco, Starbucks, In-N-Out Burger, Taco Bell, Popeyes, Family Dollar, and Grocery Outlet. Banking services are conveniently nearby with Bank of America, Citibank, and Westamerica Bank. The property is well-connected to major transportation routes like Interstate 99.
| Price History | |
|---|---|
| 6/18/2024 | Listed $1,995,000 |
General Features
| Sewer | Other |
|---|---|
| Heating | Central |
| Cooling | Central |
| Utilities | Other |
| Appliances | Other |
| Unit 4 Rent | 1165 |
| Unit 2 Rent | 1250 |
| Unit 3 Rent | 1166 |
| Unit 1 Rent | 1350 |
| Garage Spaces | 0.0 |
| Architectural Style | Other |
| Construction Materials | Other |
| Year Built | 1983 |
| Tenant Pays | Electricity,Sewer,Gas,Trash Collection,Water,Other |
| View | Other |
| Stories | 2 |
| Property SubType | 5 or More Units |
| County | Merced |
| Property Type | ResidentialIncome |
| HOA / Comm Assn | No |
| Close Price | 0.0 |
| Status | Active |
| Directions | Take W 16th Street east from Golden State Highway (Highway 99) to Snelling Highway (Highway 59),then turn left. Continue north on Snelling Highway,turn right onto W N Bear Creek Drive,and the propert |
| City | Merced |
| Buyer Agent Compensation | 2.5% |
| High School District | Merced Union High |
| Zoning Description | HIGH MEDIUM DENSITY RESIDENTIAL (R-3-1.5) |
| Open Parking Spaces | 0.0 |
| NumberOfUnitsTotal | 12 |
| MLS Area | 20407 |
| Lot Size Square Feet | 22512.0 |
| Carport Spaces | 0.0 |
| Ok to Lease | Lease/Month to Month Mix |
| Standard Status | Active |
| Middle/Junior School District | Merced City |
| Elementary School District | Merced City |
| Year Built Source | Other |
| Buyer Agent Compensation Type | Percent |
Interior Features
| Flooring | Laminate,Other |
|---|---|
| Total Stories | 2 |
| Furnished Units | None |
| Unit 1 Full Baths | 1 |
| Unit 2 Full Baths | 1 |
| Unit 3 Full Baths | 1 |
| Unit1Bedrooms | 2 |
| Unit2Bedrooms | 2 |
| Unit3Bedrooms | 2 |
| Unit4Bedrooms | 2 |
| Laundry Features | Coin Operated,In Common Area |
| Unit 2 Bedroom Units Total | 12 |
Exterior Features
| Parking Features | Covered,Uncovered,Other |
|---|---|
| Lot Features | Other |
| Water Source | Other |
| Total Parking | 18.0 |
| Foundation Details | Other |
| Number of Buildings | 3 |
| Lot Size Acres | 0.5168 |
| Lot Size Source | Assessor Auto-Fill |
| Covered Spaces | 0.0 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Income Average in 95348
Price
Visits
Year Built
All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data maintained by MetroList© may not reflect all real estate activity in the market.
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MetroList CA data last updated: June 29, 2024 1:45 AM UTC 