Eight-Unit Apartment
For Sale
$1,165,000
1962 1976 Edwards, Merced, CA 95340
Well-maintained eight-unit apartment property with 2-bedroom, 1-bath units and functional, everyday living layouts.
Property Size6,800 SF
Days on Market71
Property Features for 1962 1976 Edwards
General Information
Standard status
Active
Size
6,800 SF
Property subtype
Investment
Additional Details
Multifamily Units
8
Building Details
Building Size
6,800 SF
Year Built
1979
Units
8
Tenancy
Multi
Listing Agency:
SOLDAVI INC.
(209) 777-9955
Listed By:
Armando Diaz · License #01496803
(209) 777-9955
Source:
Elliman
Added: Jun 1
Changed: Aug 7
Last Checked: Aug 9 at 10:42AM
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 SOLDAVI INC.
Investment Insights
Based on property information with market context.
This well-maintained eight-unit apartment building offers a consistent unit mix of eight 2-bedroom, 1-bath homes. The units are described as having functional floor plans with comfortable living spaces and practical layouts designed for everyday living.
The property is located in Merced, CA, and is noted to be close to shopping, schools, public transportation, and UC Merced. The surrounding area is described as somewhat car-dependent based on the provided walk and bike scores.
As a residential income property, the building is presented as an investment opportunity suitable for portfolio expansion or a 1031 exchange.
The property is located in Merced, CA, and is noted to be close to shopping, schools, public transportation, and UC Merced. The surrounding area is described as somewhat car-dependent based on the provided walk and bike scores.
As a residential income property, the building is presented as an investment opportunity suitable for portfolio expansion or a 1031 exchange.
Key Highlights
- Well‑maintained 8‑unit apartment building built in 1979
- All units are 2‑bedroom, 1‑bath with approximately 850 SF each
- Consistent unit mix: eight spacious 2BD/1BA apartments designed for everyday living
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
$82,714
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
7.10%
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%
$1,654,280
$1.7M
Cap Rate 7%
$1,181,629
$1.2M
Cap Rate 9%
$919,044
$919.0K
Market Conditions
NOI Build-Up for 6,800 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
$158.3K $23.28/SF
− Vacancy
−$7.9K −$1.16/SF
EGI
$150.4K $22.12/SF
− OpEx
−$67.7K −$9.95/SF
NOI
$82.7K $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 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%
$1,654,280
Cap Rate 7%
$1,181,629
Cap Rate 9%
$919,044
Alternative Uses
Best Use
Apartment 5plus
$1.18M
$1.03M – $1.38M
NOI $82,714 @ 7.0% cap · market cap 7.10%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.50M
$1.31M – $1.75M
NOI $105,019 @ 7.0% cap · market cap 9.01%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
276
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained eight-unit apartment property with 2-bedroom, 1-bath units and functional, everyday living layouts.
Where is this apartment building located?
The property is located at 1962 1976 Edwards Merced, CA.
What is the asking price?
The asking price for this property is $1,165,000.
What are key features of this property?
This property features: Well‑maintained 8‑unit apartment building built in 1979; All units are 2‑bedroom, 1‑bath with approximately 850 SF each; Consistent unit mix: eight spacious 2BD/1BA apartments designed for everyday living
