3100 Denver Avenue, Merced, CA 95348

$3,840,000 Approx. USD 0 beds, 0 baths
38,533 sqft

Agent Remarks

12 studios (rents now $400 to $450 all going to $450) + 24 1 Bd. Rm. (rents now $420 to $550 all going to $550) + 28 2 BD. Rm. (rents now $525 to $675 all going raised to $650). Has pool (fenced), lndry. rm, storage rm, covered pking & open area (to build more units?) Cost to build new units (including land, soft costs etc) runs between $100,000 to $140,000. Priced at $60,000 & with less than $20,000 / unit in renovation costs you'll have 'like new' units in one of the best geographic locations in Merced. Located within 2 blocks of regional mall & across the street from two of Merced's newest & largest commercial neighborhood centers (Olivewood and Merced Marketplace). Ideal location for college students as property is within close walking distance to shopping (food & clothing), dining, entertainment & adjacent to student bus route. UC Merced has just begun a 4-year 1.3 billion dollar expansion (several thousand new jobs during construction). Student body to grow from 6,600+/-now to over 10,000+ by 2020. At full build-out UC will have 25,000 to 30,000 students. Area has recovered from RE collapse (Gross income up over 10% in past two years and rents are still rising. Overall vacancy rates have dropped from 23+% to below 1%. GRM 8.7 x's

Listing Details

Property type: (Multi-Family)
Status: Pending
MLS# MC16146447
List price is $3,840,000
Beds: 0
Baths: 0
Built in 1981
38,533 sqft
1 stories
County: Merced
Property style: Contemporary
Appliances: Dishwasher,Garbage Disposal,Refrigerator
Parking description: Unassigned
Heating description: Central Furnace,Forced Air

Last Updated: 4/18/2017

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The style of this listing is Contemporary.
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Lat/Long: 37.319752, -120.492271.
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Broker: Courtesy of Tinetti Realty Group
Listing Agent: Steve Tinetti

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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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