Two Homes, One Large
For Sale
$410,000
2520 Mckee Rd, Merced, CA 95340
Two homes on one lot near UC Merced and Merced JC.
Property Size1,257 SF
Lot Size0.50 Acres
Days on Market205
Property Features for 2520 Mckee Rd
General Information
Standard status
Active
Size
1,257 SF
Lot size
0.50 Acres
Property subtype
Investment
Building Details
Building Size
1,257 SF
Year Built
1946
Stories
1
Units
2
Listing Agency:
Keller Williams Property Team
Listed By:
Marcus Rodriguez · License #02005100
(209) 500-4663
Source:
Elliman
Added: Mar 27
Changed: Oct 10
Last Checked: Oct 16 at 11:02AM
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 Keller Williams Property Team
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Investment Insights
Based on property information with market context.
This multi-family property features two homes on a lot that is just under half an acre. Each house is currently a two-bedroom, one-bathroom layout. Both homes have been fully gutted, providing a blank canvas for interior design. There is ample space to add additional rooms, making it ideal for expansion. The lot size offers outdoor space for both properties, creating opportunities for additional parking, landscaping, or even future development. The property is located near shops, restaurants, and grocery stores, and is just a few short minutes from both UC Merced and Merced JC. It offers potential for investment or multi-generational living. Potential business uses include renovating both homes and renting them out, or living in one and leasing the other.
Key Highlights
- Two Homes on One Large Lot: Perfect for investment, multi‑generational living, or generating rental income.
- Fully Gutted Interiors: A blank canvas awaits your complete customization and design.
- Prime Location: Enjoy the convenience of being close to shops, restaurants, grocery stores, UC Merced, and Merced JC.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,290
Cap Rate
3.73%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$305,800
$305.8K
Cap Rate 7%
$218,429
$218.4K
Cap Rate 9%
$169,889
$169.9K
Market Conditions
NOI Build-Up for 1,257 SF
Gross rent
$29.3K $23.28/SF
− Vacancy
−$1.5K −$1.16/SF
EGI
$27.8K $22.12/SF
− OpEx
−$12.5K −$9.95/SF
NOI
$15.3K $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%
$305,800
Cap Rate 7%
$218,429
Cap Rate 9%
$169,889
Alternative Uses
Best Use
Apartment 5plus
$218.4K
$191.1K – $254.8K
NOI $15,290 @ 7.0% cap · market cap 3.73%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$277.3K
$242.7K – $323.6K
NOI $19,413 @ 7.0% cap · market cap 4.73%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
183
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Multifamily property - Two homes on one lot near UC Merced and Merced JC.
Where is this multifamily property located?
The property is located at 2520 Mckee Rd Merced, CA.
What is the asking price?
The asking price for this property is $410,000.
What are key features of this property?
This property features: Two Homes on One Large Lot: Perfect for investment, multi‑generational living, or generating rental income.; Fully Gutted Interiors: A blank canvas awaits your complete customization and design.; Prime Location: Enjoy the convenience of being close to shops, restaurants, grocery stores, UC Merced, and Merced JC.
