Sold
Closed
1725 W North Bear Creek Drive
Merced CA, 95348
$1,825,000
$506.94 per sqft
Sold
Closed
8 Beds
8 Baths
3,600 sqft
Multi-family
Built in 1983
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.
224066701
MLSⓇ ID
June 18, 2024
Listed
August 23, 2024
Updated
Map
1725 W North Bear Creek Drive
Merced CA, 95348
Interior Features
Total Stories
2
Bedrooms
8
Total Bathrooms
8
Full Bathrooms
4
Half Bathrooms
4
Interior Features
Laminate, Other
Appliances
Other
Laundry Description
Common Area
Floor Description
Laminate, Other
Fireplace
No
Cooling
Yes
Cooling Description
Central Air
Heating
Yes
Heating Description
Central
Exterior/Building Features
Lot Size
0.52 Acres
Lot Features
Other
Architectual Style
Other
Sewer
Other
School Information
School District
Merced City
Other Property Details
Garage
No
Parking
Covered, Other
Parking Total
18
View
Yes
View Description
Other
County
Merced
Water Source
Other
Pool
No
Zoning
HIGH MEDIUM DENSITY RESIDENTIAL (R-3-1.5)
Listing History
Date | Event | Price |
---|---|---|
8/13/2024 | Sold | $1,825,000 |
8/13/2024 | Pending | — |
Courtesy of KPD Real Estate & Advisory Services, Inc., Colton Toste,
Listing Contact:
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