Quadplex Under
For Sale
$659,900
Address not disclosed, Merced, CA 95340
Residential Income (2-4 units), Traditional, MERCED, CA
Property Size3,900 SF
Lot Size0.22 Acres
Price / SF$169.21
Days on Market15
Property Features for Address not disclosed
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R2
Bedrooms
6
Rooms
Bedroom 4, Bedroom 1, Bedroom 5, Bedroom 2, Bedroom 6, Bedroom 3
Parking
4
Parking features
On Street
Appliances
Cooktop - Gas, Garbage Disposal, Hood Over Range, Oven - Gas, Varies by Unit
Standard status
Active
Size
3,900 SF
Lot size
0.22 Acres
Utilities
Heating system
Forced Air, Natural Gas, Central
Cooling system
Central Air
Water source
Public
Building Details
Year built
1998
Number of units
4
Flooring type
Linoleum, Carpet
Roof type
Shingle
Architectural style
Other
Listing Agency:
Real Brokerage Technologies
(619) 663-8680
Listed By:
Matt Rider · License #02047930
(559) 905-6663
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 31 at 2:06PM
MLS# ML82057955
Copyright © 2026 MLS Listings, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This quadplex contains 3,900 square feet on a 0.2152-acre lot and is undergoing a comprehensive renovation scheduled for completion by mid-September 2026. Planned improvements include updated electrical and plumbing systems, flooring, cabinetry, bathrooms, doors, appliances, lighting, air conditioning systems, water heaters, dual-pane windows, interior and exterior paint, roofing, and stucco siding. The property was built in 1998 and has R2 zoning.
Each unit is being rebuilt as part of the renovation, with planned improvements focused on updated finishes, building systems, and functionality. Tenant occupancy is planned for all units upon completion. Additional property features include public water service, shingle roofing, central air conditioning, forced-air natural-gas heating, and on-street parking.
Each unit is being rebuilt as part of the renovation, with planned improvements focused on updated finishes, building systems, and functionality. Tenant occupancy is planned for all units upon completion. Additional property features include public water service, shingle roofing, central air conditioning, forced-air natural-gas heating, and on-street parking.
Key Highlights
- Four‑unit property with 3,900 square feet
- 0.2152‑acre lot with R2 zoning
- Renovation scheduled for completion by mid‑September 2026
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,081
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.74%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,021,620
$1.0M
Cap Rate 7%
$729,729
$729.7K
Cap Rate 9%
$567,567
$567.6K
Market Conditions
NOI Build-Up for 3,900 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$77.2K $19.80/SF
− Vacancy
−$4.2K −$1.09/SF
EGI
$73.0K $18.71/SF
− OpEx
−$21.9K −$5.61/SF
NOI
$51.1K $13.10/SF
Area
Merced County, CA
Vacancy
5.50%
Lease Rate
$19.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,021,620
Cap Rate 7%
$729,729
Cap Rate 9%
$567,567
Alternative Uses
Best Use
Multifamily LT 5
$729.7K
$638.5K – $851.4K
NOI $51,081 @ 7.0% cap · market cap 7.74%
Second Best
Apartment 5plus
$677.7K
$593.0K – $790.7K
NOI $47,439 @ 7.0% cap · market cap 7.19%
Theoretical Best
Healthcare Medical
$860.5K
$752.9K – $1.00M
NOI $60,232 @ 7.0% cap · market cap 9.13%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,636
Businesses Nearby
Explore this area
Business Placement
Demographics for 95340, CA
38,606
Population
13,553
Households
2.8
Avg Household Size
33
Median Age
26%
College-Educated
86%
High-School Grad
52.0 sq mi
ZIP Area
742
Density / Sq Mi
$65,141
Median Household Income
$35,165
Median Earnings
$1,204
Median Rent
$383,200
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four-unit residential property scheduled for extensive renovation completion with tenant occupancy planned upon delivery.
Where is this quadplex located?
The property is located at Address not disclosed Merced, CA.
What is the asking price?
The asking price for this property is $659,900.
What are key features of this property?
This property features: Four‑unit property with 3,900 square feet; 0.2152‑acre lot with R2 zoning; Renovation scheduled for completion by mid‑September 2026
