Fully Occupied Fourplex in
For Sale
Contact for pricing
1567-- 1573 Ellen Court, Merced, CA 95341
Fourplex with steady rental demand in a convenient location.
Property Size3,360 SF
Lot Size0.19 Acres
Price / SF$187.50
Days on Market117
Property Features for 1567-- 1573 Ellen Court
General Information
Standard status
Active
Size
3,360 SF
Class
C
Lot size
0.19 Acres
Property subtype
Multifamily
Zoning
Assessor
Building Details
Buildings
1
Units
4
Listing Agency:
Keller Williams Property Team
(209) 500-4663
Listed By:
Ranjeet Singh · License #01351073
Source:
Crexi
Added: May 7
Changed: Aug 26
Last Checked: Aug 29 at 1:39PM
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 Keller Williams Property Team
Investment Insights
Based on property information with market context.
This fully occupied fourplex is located in a rental-driven neighborhood. Constructed in 1980, the property features a total of 8 bedrooms and 4 bathrooms within 3,360 square feet of living space, situated on an 8,077 square foot lot. Each of the four units has a two-bedroom, one-bath layout. Central heat and air conditioning are installed throughout the building. An additional room presents the opportunity to be converted into a shared laundry area, potentially generating extra income. The downstairs units include private backyard spaces, and each unit is equipped with an additional storage room. The property is conveniently located near schools and parks, with shopping, freeway access, and everyday amenities within a short distance. This property is suited as a long-term hold income property with steady rental demand.
Key Highlights
- Fully occupied fourplex in a rental‑driven neighborhood.
- Ideal long‑term hold income property with steady rental demand.
- All units are two‑bedroom, one‑bath layouts.
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
$44,008
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
6.99%
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%
$880,160
$880.2K
Cap Rate 7%
$628,686
$628.7K
Cap Rate 9%
$488,978
$489.0K
Market Conditions
NOI Build-Up for 3,360 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
$66.5K $19.80/SF
− Vacancy
−$3.7K −$1.09/SF
EGI
$62.9K $18.71/SF
− OpEx
−$18.9K −$5.61/SF
NOI
$44.0K $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%
$880,160
Cap Rate 7%
$628,686
Cap Rate 9%
$488,978
Alternative Uses
Best Use
Multifamily LT 5
$628.7K
$550.1K – $733.5K
NOI $44,008 @ 7.0% cap · market cap 6.99%
Second Best
Apartment 5plus
$583.9K
$510.9K – $681.2K
NOI $40,870 @ 7.0% cap · market cap 6.49%
Theoretical Best
Healthcare Medical
$741.3K
$648.7K – $864.9K
NOI $51,892 @ 7.0% cap · market cap 8.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 95341, CA
33,194
Population
9,331
Households
3.6
Avg Household Size
29
Median Age
8%
College-Educated
63%
High-School Grad
146.8 sq mi
ZIP Area
226
Density / Sq Mi
$55,516
Median Household Income
$32,184
Median Earnings
$1,172
Median Rent
$295,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Fourplex with steady rental demand in a convenient location.
Where is this quadplex located?
The property is located at 1567-- 1573 Ellen Court Merced, CA.
What is the asking price?
The asking price for this property is $630,000.
What are key features of this property?
This property features: Fully occupied fourplex in a rental‑driven neighborhood.; Ideal long‑term hold income property with steady rental demand.; All units are two‑bedroom, one‑bath layouts.
