Well-Maintained 15-Unit Multifamily
For Sale
$2,499,999
132 18Th St, Merced, CA 95340
Desirable unit mix, gated community, strong occupancy, updated interiors.
Property Size7,256 SF
Price / SF$344.54
Days on Market232
Property Features for 132 18Th St
General Information
Standard status
Active
Size
7,256 SF
Property subtype
Commercial
Amenities
Central air
Ceiling Fan Cooling
Central -1 Zone Cooling
Hardwood Flooring
Laminate Flooring
Tar & Gravel Roof
Tile Flooring
Vinyl Flooring
Wall Furnace Heating
Wall to Wall Carpet Flooring
Building Details
Year Built
1962
Listing Agency:
LEGACY REAL ESTATE & ASSOC.
(510) 744-3500
Listed By:
SRINIVASA MYNENI · License #01953963
(415) 640-5406
Source:
Corcoran
Added: Mar 20
Changed: Oct 26
Last Checked: Nov 4 at 12:53PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LEGACY REAL ESTATE & ASSOC.
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Investment Insights
Based on property information with market context.
This well-maintained 15-unit multifamily property features a mix of 6 studios, 4 one-bedroom/one-bath units, and 5 two-bedroom/one-bath units. This diverse unit mix appeals to a broad tenant base and supports consistently high occupancy levels. The property is a gated community equipped with security cameras throughout, offering enhanced safety. A centrally located landscaped lawn area provides a welcoming outdoor space. Each unit includes an assigned parking space, complemented by 10 covered carports. Units are equipped with electric ranges and refrigerators, and many have been recently renovated with updated interiors and fresh paint. The exterior of the property has also been fully repainted, contributing to strong curb appeal. Heating and cooling configurations include central HVAC for the one and two bedroom units, while studio units are fitted with window air conditioning. The property benefits from ongoing professional pest control and landscape maintenance services. The property operates efficiently without the need for an on-site manager, helping reduce operating expenses.
Key Highlights
- Desirable unit mix (6 studios, 4 one‑bedroom, 5 two‑bedroom) appeals to a broad tenant base and supports high occupancy.
- Gated community with security cameras provides enhanced safety and peace of mind.
- Assigned parking space for each unit, plus 10 covered carports.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,261
Cap Rate
3.53%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,765,220
$1.8M
Cap Rate 7%
$1,260,871
$1.3M
Cap Rate 9%
$980,678
$980.7K
Market Conditions
NOI Build-Up for 7,256 SF
Gross rent
$168.9K $23.28/SF
− Vacancy
−$8.4K −$1.16/SF
EGI
$160.5K $22.12/SF
− OpEx
−$72.2K −$9.95/SF
NOI
$88.3K $12.16/SF
Area
Merced County, CA
Vacancy
5.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,765,220
Cap Rate 7%
$1,260,871
Cap Rate 9%
$980,678
Alternative Uses
Best Use
Apartment 5plus
$1.26M
$1.10M – $1.47M
NOI $88,261 @ 7.0% cap · market cap 3.53%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.60M
$1.40M – $1.87M
NOI $112,062 @ 7.0% cap · market cap 4.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Location Intelligence
Trade Area within ½ mile
1,769
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Desirable unit mix, gated community, strong occupancy, updated interiors.
Where is this apartment building located?
The property is located at 132 18Th St Merced, CA.
What is the asking price?
The asking price for this property is $2,499,999.
What are key features of this property?
This property features: Desirable unit mix (6 studios, 4 one‑bedroom, 5 two‑bedroom) appeals to a broad tenant base and supports high occupancy.; Gated community with security cameras provides enhanced safety and peace of mind.; Assigned parking space for each unit, plus 10 covered carports.
