$1,100,000
207 St Michelle DR Merced, CA 95348
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$1,100,000
Est. payment /mo
0.6 Acres Lot
UPDATED:
10/22/2024 08:32 PM
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Pending
Purchase Type For Sale
MLS Listing ID MC24205443
HOA Y/N No
Year Built 1988
Lot Size 0.597 Acres
Property Description
This fully-occupied 6-unit multifamily property offers immediate cash flow with significant upside potential through strategic rent increases. Located in the rapidly developing Merced market, this property benefits from proximity to downtown, shopping, and major transportation routes, ensuring a steady stream of tenant demand.
Investment Highlights: Unit Mix & Size: The complex features five spacious 2-bed, 2-bath units (1,119-1,389 sqft) and one 1-bed, 1-bath unit (756 sqft), ideal for attracting long-term tenants.
Value-Add Potential: With multiple units currently renting below market rate, there is clear upside in rents. Recent leases indicate strong tenant retention and potential for rent increases to meet market trends.
Strong Location Fundamentals: Merced’s growing population and the development surrounding UC Merced create sustained demand for rental housing, positioning this asset for long-term appreciation and strong occupancy levels.
Parking: Dedicated covered parking enhances tenant satisfaction and property appeal.
Low Operating Expenses: The property is well-maintained, reducing the immediate need for capital expenditures and allowing investors to focus on optimizing cash flow.
Investment Highlights: Unit Mix & Size: The complex features five spacious 2-bed, 2-bath units (1,119-1,389 sqft) and one 1-bed, 1-bath unit (756 sqft), ideal for attracting long-term tenants.
Value-Add Potential: With multiple units currently renting below market rate, there is clear upside in rents. Recent leases indicate strong tenant retention and potential for rent increases to meet market trends.
Strong Location Fundamentals: Merced’s growing population and the development surrounding UC Merced create sustained demand for rental housing, positioning this asset for long-term appreciation and strong occupancy levels.
Parking: Dedicated covered parking enhances tenant satisfaction and property appeal.
Low Operating Expenses: The property is well-maintained, reducing the immediate need for capital expenditures and allowing investors to focus on optimizing cash flow.
Location
State CA
County Merced
Zoning P-D
Interior
Heating Central
Cooling Central Air
Fireplace No
Laundry See Remarks
Exterior
Pool None
Community Features Street Lights, Sidewalks
Private Pool No
Building
Lot Description Landscaped
Story 1
Sewer Public Sewer
Water Public
New Construction No
Others
Senior Community No
Tax ID 007290028000
Acceptable Financing Cash
Listing Terms Cash
Special Listing Condition Standard
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Listed by Andrew Alkema • Keller Williams Property Team • 209-201-5280
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