Two-Story Triplex with
New
For Sale
$425,000
1657 Cypress Way, Merced, CA 95341
MULTI_FAMILY - Merced, CA
Property Size2,546 SF
Lot Size0.06 Acres
Price / SF$166.93
Days on Market2
Property Features for 1657 Cypress Way
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 2, Bathroom 3, Bedroom 3, Bedroom 2, Bathroom 1, Bedroom 4, Bedroom 1
Exterior features
Stucco
High school district
Merced Union
Directions
Ca 99 exit 186A for Childs Ave. Towards Motel Dr, follow to Cypress Way.
Subdivision
341
Standard status
Active
APN
035062008000
Size
2,546 SF
Lot size
0.06 Acres
Building Details
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
London Properties, Ltd.
(559) 436-4000
Listed By:
Elsa Gutierrez
(559) 436-4000
Added: Aug 5
Last Checked: Aug 6 at 8:06AM
MLS# 653237
Copyright © 2026 Fresno Association of Realtors. 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 two-story triplex contains 2,546 square feet and includes three residential units. Two apartments each feature one bedroom, one bathroom, a kitchen, and a living room. The third unit includes one bedroom, a small additional bedroom, a bathroom, a kitchen, and a living room. One apartment has been recently remodeled, and the property includes a garage. Stucco exterior walls and a composition roof complete the primary building features.
The property sits on a 0.0584-acre lot in Merced, near Freeway 99 and schools. Long-term tenants are in place, providing an established occupancy profile for review. The parcel is located at 1657 Cypress Way, Merced, California 95341.
The property sits on a 0.0584-acre lot in Merced, near Freeway 99 and schools. Long-term tenants are in place, providing an established occupancy profile for review. The parcel is located at 1657 Cypress Way, Merced, California 95341.
Key Highlights
- 2,546‑square‑foot two‑story triplex
- Two one‑bedroom, one‑bath apartments plus a third unit with an additional small bedroom
- One apartment recently remodeled
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.4k | $19.80 |
| − Vacancy | −$2.8k | −$1.09 |
| EGI | $47.6k | $18.71 |
| − OpEx | −$14.3k | −$5.61 |
| NOI | $33.3k | $13.10 |
2,546 SF · lease $19.80/SF/yr · vacancy 5.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$476.4K
$416.8K – $555.8K
NOI $33,347 @ 7.0% cap · market cap 7.85%
Second Best
Apartment 5plus
$442.4K
$387.1K – $516.2K
NOI $30,969 @ 7.0% cap · market cap 7.29%
Theoretical Best
Healthcare Medical
$561.7K
$491.5K – $655.3K
NOI $39,320 @ 7.0% cap · market cap 9.25%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Multi-tenant
Tenancy
Yes
Highway access
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
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property with one recently remodeled apartment and long-term tenants in place.
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: 2,546‑square‑foot two‑story triplex; Two one‑bedroom, one‑bath apartments plus a third unit with an additional small bedroom; One apartment recently remodeled
