Willow Glen Townhouse
2157 Yosemite Pkwy Merced, CA 95340
2157 Yosemite Pkwy, Merced, CA, 95340
$8,988,000
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 Market408
Property Features for 2157 Yosemite Pkwy
General Information
- Standard status
- Active
- Size
- 52,704 SF
Building Details
- Year Built
- 1989
Listing agency
MARCUS & MILLICHAP
Listed by
JON HOLMQUIST
Source
Corcoran
Added: Jun 9, 2025 Updated: Mar 16 at 9:09AM 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
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).
Local Financial Insights For Apartment 5plus
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 | $1.23M | $23.28 |
| − Vacancy | −$61.3k | −$1.16 |
| EGI | $1.17M | $22.12 |
| − OpEx | −$524.5k | −$9.95 |
| NOI | $641.1k | $12.16 |
52,704 SF · lease $23.28/SF/yr · vacancy 5.00% · expense 45.00%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
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).
