Building Details

Building Size 1,643 SF

Year Built 1938

Buildings 2

Stories 1

Units 2

Listing Agency: Keller Williams Property Team m***@gmail.com Show Phone

Listed By: Alifonso Mendoza Show Phone

Source: Coalingamidstaterealty

Added: May 13 Changed: Aug 29 Last Checked: Aug 29 at 9:13PM

Report an Issue

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

Investment Insights

Based on property information with market context.

This 2-acre multifamily property includes a primary residence and a manufactured home within a fully gated layout. The main home, built in 1938, offers 3 bedrooms and 1 bathroom, along with a kitchen featuring tile countertops and backsplash. Ceiling fans serve the living room and two bedrooms, while a covered patio over concrete extends the backyard living area.

The manufactured home provides 2 bedrooms and 2 full bathrooms for additional household, guest, or rental use. On-site improvements also include storage areas, additional storage sheds, horse stalls, and a large pop-up tent. The property has convenient access to Highway 99 while retaining a country-oriented setting.

Key Highlights

• 2‑acre fully gated property with separated residential improvements
• Main home includes 3 bedrooms and 1 bathroom
• Manufactured home offers 2 bedrooms and 2 full bathrooms

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

$19,985

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

3.81%

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%

$399,700 $399.7K

Cap Rate 7%

$285,500 $285.5K

Cap Rate 9%

$222,056 $222.1K

Market Conditions

NOI Build-Up for 1,643 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

$38.2K $23.28/SF

− Vacancy

−$1.9K −$1.16/SF

EGI

$36.3K $22.12/SF

− OpEx

−$16.4K −$9.95/SF

NOI

$20.0K $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%

$399,700

Cap Rate 7%

$285,500

Cap Rate 9%

$222,056

Alternative Uses

Best Use

Apartment 5plus

$285.5K

$249.8K – $333.1K (±1% cap)

NOI $19,985 @ 7.0% cap · market cap 3.81%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$362.5K

$317.2K – $422.9K (±1% cap)

NOI $25,374 @ 7.0% cap · market cap 4.83%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Short term rental ...

Suggested Use

Top Pick Auto Repair Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

2

Residential units

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

3

Businesses Nearby

Explore this area Business Placement

Demographics for 95333, CA

2,752

Population

878

Households

3.1

Avg Household Size

36

Median Age

15%

College-Educated

59%

High-School Grad

122.3 sq mi

ZIP Area

23

Density / Sq Mi

$62,045

Median Household Income

$33,784

Median Earnings

$1,003

Median Rent

$309,600

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this multifamily properties located? What is the asking price? Find similar properties ... What are key features of this property?

Ask Rey about this property ...

Frequently Asked Questions

What type of property is this?

Multifamily property - Separate residences, equestrian improvements, and enclosed grounds support flexible residential use near Highway 99.

Where is this multifamily property located?

The property is located at 7251 Plainsburg Road Le Grand, CA.

What is the asking price?

The asking price for this property is $525,000.

What are key features of this property?

This property features: 2‑acre fully gated property with separated residential improvements; Main home includes 3 bedrooms and 1 bathroom; Manufactured home offers 2 bedrooms and 2 full bathrooms