Two-Parcel Multifamily with Six
308 W 20Th St Merced, CA 95340
For Sale
$1,350,000
Two adjacent parcels house six tenant-occupied two-bedroom units with four covered parking spaces.
Property Size4,356 SF
Price / SF$309.92
Days on Market112
Property Features for 308 W 20Th St
General Information
- Standard status
- Active
- Size
- 4,356 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1966
Listing Agency:
Kal Real Estate Group
(510) 377-8858
Listed By:
Jesse Kalsi · License #01181722
(510) 377-8858
Source:
Exitrealty
Added: Apr 3
Changed: Jul 23
Last Checked: Jul 23 at 2:24AM
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 Kal Real Estate Group
Investment Insights
Based on property information with market context.
Offered for sale together are two adjacent multifamily parcels totaling six units: 308, 310, and 312 W. 20th St., and 1927, 1935, and 1943 Martin Luther King Jr. Way. The buildings provide six tenant-occupied units, each configured as two bedrooms and one bathroom. Upgrades include a roof that is under six years old, and one unit has been fully renovated with fresh paint, new flooring, and an updated kitchen and bathroom.
The property includes four covered parking spaces, with additional street parking available for tenants and guests. Both buildings are situated on the same site under two separate parcel numbers, offering flexibility for ownership and management.
This asset is presented as a potential 1031 exchange candidate and is available as a combined purchase of the two parcels and all six units.
The property includes four covered parking spaces, with additional street parking available for tenants and guests. Both buildings are situated on the same site under two separate parcel numbers, offering flexibility for ownership and management.
This asset is presented as a potential 1031 exchange candidate and is available as a combined purchase of the two parcels and all six units.
Key Highlights
- Six 2‑bedroom, 1‑bathroom units across two adjacent parcels (308, 310, 312 W. 20th St. and 1927, 1935, 1943 Martin Luther King Jr. Way).
- All units are currently tenant‑occupied.
- Roof is under 6 years old.
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 | $101.4k | $23.28 |
| − Vacancy | −$5.1k | −$1.16 |
| EGI | $96.3k | $22.12 |
| − OpEx | −$43.4k | −$9.95 |
| NOI | $53.0k | $12.16 |
4,356 SF · lease $23.28/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$756.9K
$662.3K – $883.1K
NOI $52,986 @ 7.0% cap · market cap 3.92%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$961.1K
$840.9K – $1.12M
NOI $67,274 @ 7.0% cap · market cap 4.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
1031 exchange properties
FAQs
What type of property is this?
Apartment building - Two adjacent parcels house six tenant-occupied two-bedroom units with four covered parking spaces.
Where is this apartment building located?
The property is located at 308 W 20Th St Merced, CA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Six 2‑bedroom, 1‑bathroom units across two adjacent parcels (308, 310, 312 W. 20th St. and 1927, 1935, 1943 Martin Luther King Jr. Way).; All units are currently tenant‑occupied.; Roof is under 6 years old.
