24 bedroom house for sale
Merced CA 95348
- Property Type
- House
- Price
- $1,995,000
- Beds
- 24
- Baths
- 4.5
Overview
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.
Details
- Beds: 24
- Baths: 4.5
- Price: $1,995,000
- :
- Area: 3,600 sqft
Location
Merced CA 95348
24 bedroom house for saleRelated Properties
Disclaimer
2024-06-21, Viewed 0 times.
The information about this listing comprises a listing advertisement. Listanza makes no warranty as to the accuracy or completeness of the advertisement or any linked or associated information. Further, Listanza has no control over the content. The information is provided and maintained by the owner/agent. Please contact the owner/agent directly to obtain any additional information.
2024-06-21, Viewed 0 times.
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