Fully Occupied
For Sale
$630,000
1573 Ellen Ct 1567--, Merced, CA 95341
Eight-bedroom multifamily property with uniform two-bedroom, one-bath units and central heating and air conditioning.
Property Size3,360 SF
Lot Size0.19 Acres
Price / SF$187.50
Days on Market187
Property Features for 1573 Ellen Ct 1567--
General Information
Standard status
Active
Size
3,360 SF
Lot size
0.19 Acres
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Building Details
Year Built
1980
Listing Agency:
Keller Williams Property Team
Listed By:
Ranjeet Singh ranjeet@kw.com
Source:
Findhomesinsandiegoarea
Added: Mar 10
Changed: Sep 11
Last Checked: Sep 12 at 10:29AM
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 fourplex contains four matching units, each configured with two bedrooms and one bathroom, for a total of 8 bedrooms and 4 bathrooms. The property provides 3,360 square feet of living space on an 8,077-square-foot lot and was built in 1980. Central heat and air serve all units. Each residence includes an additional storage room, while both downstairs units have private backyard areas. An extra room offers the possibility of creating shared laundry space.
The property is fully occupied and located near schools and parks, with shopping, freeway access, and everyday amenities within minutes. Its consistent unit layout and existing occupancy provide a straightforward multifamily configuration.
The property is fully occupied and located near schools and parks, with shopping, freeway access, and everyday amenities within minutes. Its consistent unit layout and existing occupancy provide a straightforward multifamily configuration.
Key Highlights
- Fully occupied fourplex with 8 bedrooms and 4 bathrooms
- Four units, each offering a two‑bedroom, one‑bath layout
- 3,360 square feet of living space on an 8,077‑square‑foot lot
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
Current Use
Lease Details
4
Residential units
100%
Occupancy
Yes
Highway access
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 - Eight-bedroom multifamily property with uniform two-bedroom, one-bath units and central heating and air conditioning.
Where is this quadplex located?
The property is located at 1573 Ellen Ct 1567-- 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 with 8 bedrooms and 4 bathrooms; Four units, each offering a two‑bedroom, one‑bath layout; 3,360 square feet of living space on an 8,077‑square‑foot lot
