631 Q Street

    Merced, CA 95341
    • $960,000
    • STATUS: Active
    • ON SITE: 10 days
    • ID#: MC18270598
    UPDATED: 63 min ago
    $960,000
    • 0
      BEDS
    • 0.85
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,800
      SQFT
    • $123
      $/SQFT
    Type:
    Multi-Family
    Built:
    1960
    County:

    School Ratings & Info

    Description

    Great buy for investors. 12 units total. All units are currently rented at below fair market rates. Current fair market rent APPROXIMATELY $650.00 per unit. If rented at $650.00 per unit with 100% occupancy, annual gross rents equal $93,600. Potential for excellent cap rate. Three separate APN's with a fourplex on each APN. Addresses are 631, 639 and 647 Q Street. All 3 parcels to sell together. NOTE: Operating Expenses as shown are estimates only. Net operating income is an ESTIMATE ONLY. Current rents as stated may vary slightly and will be verified upon receipt of seller rent rolls. Gross income, net income, operating expenses, etc. will be updated upon receipt of Seller P&L Statements, Rent Rolls, Expense Reports. Buyer to be provided rent rolls, expense information, etc. during buyer investigation period for buyer approval. Units are ESTIMATED to be 650 SF each unit; 2600 SF per fourplex. Square footage to be verified during buyer investigation period for buyer approval.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T22:30:59.96. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
    www.fredsedgroup.com/homes/89305330

    631 Q Street Merced, CA 95341

    • Price: $960,000
    • Status: Active
    • Updated: 63 min ago
    • ID#: MC18270598
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.85
    Acres
    7,800
    SQFT
    $123
    $/SQFT
    1960
    Built
    County:
    Merced
    Property Description
    Great buy for investors. 12 units total. All units are currently rented at below fair market rates. Current fair market rent APPROXIMATELY $650.00 per unit. If rented at $650.00 per unit with 100% occupancy, annual gross rents equal $93,600. Potential for excellent cap rate. Three separate APN's with a fourplex on each APN. Addresses are 631, 639 and 647 Q Street. All 3 parcels to sell together. NOTE: Operating Expenses as shown are estimates only. Net operating income is an ESTIMATE ONLY. Current rents as stated may vary slightly and will be verified upon receipt of seller rent rolls. Gross income, net income, operating expenses, etc. will be updated upon receipt of Seller P&L Statements, Rent Rolls, Expense Reports. Buyer to be provided rent rolls, expense information, etc. during buyer investigation period for buyer approval. Units are ESTIMATED to be 650 SF each unit; 2600 SF per fourplex. Square footage to be verified during buyer investigation period for buyer approval.
    Exterior Features

    Garage Spaces 0.00 Lot Features Lot 20000-39999 Sqft Lot Size Source Estimated Lot Size Units Square Feet Parking Features Driveway - Asphalt Parking Total 0.00 Parking YN Yes Pool Features None Pool Private YN No Property Attached YN Yes

    Interior Features

    Average Studio Area Units Square Feet Average1 Bed Area Units Square Feet Average2 Bed Area 650 Average2 Bed Area Units Square Feet Average3 Bed Area Units Square Feet Common Walls 2+ Common Walls Laundry Features See Remarks Levels One

    Property Features

    Additional Parcels Description 032-183-033032-183-032 Additional Parcels YN Yes Building Area Units Square Feet Community Features Suburban Country Us Elevation Units Feet Gross Income 76000.00 Gross Scheduled Income 75600.00 Insurance Expense 2500.00 Land Lease YN No Laundry Equipment Own Lease Own Laundry Income 400.00 Laundry YN Yes Net Operating Income 57600.00 New Construction YN No New Taxes Expense 3475.00 Number Of Separate Electric Meters 12 Number Of Separate Gas Meters 12 Number Of Separate Water Meters 12 Operating Expense 18000.00 Other Expense 2825.00 Other Expense Description Misc Professional Management Expense 2000.00 Rent Control YN No Senior Community YN No Sewer Public Sewer Special Listing Conditions Standard Tenant Pays ElectricityGas Total Expenses 18000.00 Trash Expense 2200.00 Water Sewer Expense 5000.00 Water Source Public Year Built Source Estimated

    Listing provided courtesy of Melinda Price of Century 21 Salvadori Realty and Matthew Ostdiek of Century 21 Salvadori Realty.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2018-11-20T22:30:59.96. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. Licensed in the State of California, USA.
     
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