$910,000
$995,000
8.5%For more information regarding the value of a property, please contact us for a free consultation.
7,285 SqFt
SOLD DATE : 02/04/2022
Key Details
Sold Price $910,000
Property Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 7,285 sqft
Price per Sqft $124
MLS Listing ID MC21135839
Sold Date 02/04/22
HOA Y/N No
Year Built 1924
Lot Size 6,751 Sqft
Acres 0.155
Property Description
Fully Stabilized Asset
The property is fully leased and only 2 out of the 6 units are at market rate.
Great potential to increase income over 25% by bringing to full market rates.
Additional Upside due to Zoning
All parcels are Zoned Commercial Office (C-O). This would give an investor the opportunity to convert the homes into offices or demolish the existing structures and build an office complex. Smaller Downtown office space built to class “A” standards can be leased at $1.50 per square foot NNN.
Adjacent to Courthouse and Proximity to Downtown
The Property is located adjacent to the Merced County Courthouse, the Merced Courthouse Square Park, close proximity to the Downtown Business District, Bob Hart Square, the recently renovated Mainzer Theater, Tioga Hotel, El Capitan Hotel & UC Merced Administration Building.
Even More Upside Value!
There are 4 separate parcels. An investor can sell off parcels individually to bring in immediate profit. 3 parcels have single family homes. 1 parcel has a single family home and a duplex.
Location
State CA
County Merced
Zoning C-O
Rooms
Ensuite Laundry See Remarks
Interior
Laundry Location See Remarks
Heating None
Fireplace No
Laundry See Remarks
Exterior
Pool None
Community Features Gutter(s)
Private Pool No
Building
Lot Description Back Yard
Story 1
Entry Level One
Sewer Public Sewer
Water Public
Level or Stories One
New Construction No
Others
Senior Community No
Tax ID 030254007000
Acceptable Financing Submit
Listing Terms Submit
Financing Cash
Special Listing Condition Standard
Read Less Info
Want to know what your home might be worth? Contact us for a FREE valuation!
Our team is ready to help you sell your home for the highest possible price ASAP
Bought with Jacob Morgner • Tinetti Realty Group
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "