Listing Agency: London Properties, Ltd. i***@londonproperties.com Show Phone

Listed By: Elsa Gutierrez Show Phone

Source: Exprealty

Added: Aug 5 Changed: Oct 11 Last Checked: Oct 16 at 10:11AM

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Investment Insights

Based on property information with market context.

This two-story triplex contains three apartments with kitchens, living areas, and bathrooms. Two units are configured with one bedroom and one bathroom, while the third includes a primary bedroom, a smaller additional bedroom, a kitchen, living area, and bathroom. One apartment has been recently remodeled, and the property includes a garage.

The property is located near Freeway 99 and schools. Long-term tenants are in place. The unit layouts, existing garage, and completed remodeling provide a defined starting point for an owner evaluating the property and its current occupancy.

Key Highlights

• Three apartments in a two‑story triplex
• Two units each include 1 bedroom and 1 bathroom
• Third apartment includes a bedroom plus a small additional bedroom

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$33,347

Cap Rate

7.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$666,940 $666.9K

Cap Rate 7%

$476,386 $476.4K

Cap Rate 9%

$370,522 $370.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,546 SF

Gross rent

$50.4K $19.80/SF

− Vacancy

−$2.8K −$1.09/SF

EGI

$47.6K $18.71/SF

− OpEx

−$14.3K −$5.61/SF

NOI

$33.3K $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 Rate 5%

$666,940

Cap Rate 7%

$476,386

Cap Rate 9%

$370,522

Alternative Uses

Best Use

Multifamily LT 5

$476.4K

$416.8K – $555.8K (±1% cap)

NOI $33,347 @ 7.0% cap · market cap 7.85%

Second Best

Apartment 5plus

$442.4K

$387.1K – $516.2K (±1% cap)

NOI $30,969 @ 7.0% cap · market cap 7.29%

Theoretical Best

Healthcare Medical

$561.7K

$491.5K – $655.3K (±1% cap)

NOI $39,320 @ 7.0% cap · market cap 9.25%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Triplexes

Suggested Use

Top Pick Real Estate Agency Electrical Service Gym & Fitness Center Furniture & Home Goods Carpet & Flooring Store Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

685

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

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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Frequently Asked Questions

What type of property is this?

Triplex - Long-term tenants occupy three apartments, including one recently remodeled unit and varied one-bedroom layouts.

Where is this triplex located?

The property is located at 1657 Cypress Way Merced, CA.

What is the asking price?

The asking price for this property is $425,000.

What are key features of this property?

This property features: Three apartments in a two‑story triplex; Two units each include 1 bedroom and 1 bathroom; Third apartment includes a bedroom plus a small additional bedroom