Phone888.995.7575

1101 East Santa Fe Avenue, Merced, CA 95340

$2,950,000 Approx. USD 0 beds, 0 baths
29,400 sqft

Agent Remarks

Evergreen Park apartments are located at the intersection of East Santa Fe and Glen, conveniently located on a bus route, walking distance to multiple schools, and ten minutes to the UC Merced Campus (~20% of tenants are students). The property is functionally full, with a a couple of move in and move outs each month. and rents are now moving up. The rent on a new studio rental has increased from $ 375 to $ 475, and on the one bedroom from $ 475 to $ 595. There are eight buildings, each with the same configuration. Unit #1 is 1 large 1 bedroom, units 2-3-4 are downstairs studios, unit units 6-7-8 are upstairs studios, unit #5 is a downstairs studio with no unit above, a laundry room and a storage unit. In general, two building face each other with enclosed courtyards. There is a built in fenced pool for the tenants use. The office is located in the 1121 building. The complex has a payment kiosk, that allows tenants to pay rent 24 hours a day via debit/credit cards, checks or money orders. Gross Rent Multiplier of 9.0. The complex is listed significantly below replacement cost. The cost of a building permit / entitlement fees is roughly the same amount as the $46,0000 per unit list price.

Listing Details

Property type: (Multi-Family)
Status: Active
MLS# MC16091251
List price is $2,950,000 Reduced by $45,000 on 8/22/2016
Beds: 0
Baths: 0
Kitchen fireplaces
Built in 1980
29,400 sqft
2 stories
0.39 acres
Lot size: 17293.000
County: Merced
Appliances: Electric Range,Electric Stove,Electric Water Heater,Refrigerator
Parking description: Unassigned
Heating description: Heat Pump

Last Updated: 8/22/2016

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Lat/Long: 37.302521, -120.461693.
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Broker: Courtesy of Yandow Realty Group
Listing Agent: Mark Yandow

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Total population of , which has changed by % since 1990.
The median age of the population is , while the median age of dwellings is .
Out of households, are families.

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