Willow Glen Townhouse
2157 Yosemite Pkwy, Merced, CA 95340
For Sale
$8,988,000
Well-maintained apartment complex with recent renovations in a strong market.
Property Size52,704 SF
Price / SF$170.54
Days on Market519
Property Features for 2157 Yosemite Pkwy
General Information
Standard status
Size
Building Details
Year Built
Listing Agency:
MARCUS & MILLICHAP
Listed By:
JON HOLMQUIST
Source:
Corcoran
Added: Jun 9, 2025
Changed: Mar 16
Last Checked: Mar 16 at 9:09AM
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 MARCUS & MILLICHAP
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Investment Insights
Based on property information with market context.
The Willow Glen Townhouse Apartments, constructed around 1989, are available for sale. This complex presents an opportunity to acquire a well-maintained building in a robust employment market characterized by low vacancy rates. Recent enhancements include interior renovations in twenty-four of the 61 units, featuring luxury vinyl plank flooring, granite kitchen countertops, and new appliances. Additional renovations over the last decade encompass new pitched composite roofs on all buildings around 2018, new fascia boards, new paint, new concrete office access, updated landscaping, a resurfaced pool, recent tree trimming, and numerous unit interior upgrades. The property comprises seven separate buildings, including six residential buildings and a dedicated on-site rental office and laundry facility. The unit configuration consists of sixty-one two-bedroom, one-and-a-half-bath two-level townhomes, each approximately 864 square feet. Each townhome is equipped with roof-mounted forced air heating and air conditioning, gas stoves, frost-free refrigerators, and one-piece drop-in shower and tub enclosures with sliding glass doors.
Key Highlights
- Excellent condition in a strong employment market with low market‑wide vacancy.
- 24 of 61 units feature thorough interior renovations** including luxury vinyl plank flooring, granite kitchen tops, and new appliances.
- New pitched composite roofs on all buildings (circa 2018).
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$641,081
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$12,821,620
$12.8M
Cap Rate 7%
$9,158,300
$9.2M
Cap Rate 9%
$7,123,122
$7.1M
Market Conditions
NOI Build-Up for 52,704 SF
Gross rent
$1.23M $23.28/SF
− Vacancy
−$61.3K −$1.16/SF
EGI
$1.17M $22.12/SF
− OpEx
−$524.5K −$9.95/SF
NOI
$641.1K $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 Rate 5%
$12,821,620
Cap Rate 7%
$9,158,300
Cap Rate 9%
$7,123,122
Alternative Uses
Best Use
Apartment 5plus
$9.16M
$8.01M – $10.68M
NOI $641,081 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$11.63M
$10.17M – $13.57M
NOI $813,961 @ 7.0% cap · market cap 9.06%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
86
Businesses Nearby
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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
$383,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Apartment buildings in Merced County, CA
Properties on Market for Apartment buildings in Merced County
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Well-maintained apartment complex with recent renovations in a strong market.
Where is this apartment building located?
The property is located at 2157 Yosemite Pkwy Merced, CA.
What is the asking price?
The asking price for this property is $8,988,000.
What are key features of this property?
This property features: Excellent condition in a strong employment market with low market‑wide vacancy.; 24 of 61 units feature thorough interior renovations** including luxury vinyl plank flooring, granite kitchen tops, and new appliances.; New pitched composite roofs on all buildings (circa 2018).
