Seller's Agent in 2017
Mark Yandow
Yandow Realty Group
(209) 270-7891
7 Total Sales
1101 E Santa fe Ave Merced, CA 95340
1
Bed
3
Baths
29,400
Sq Ft
0.4
Acres
Highlights
- Gunite Pool
- Cooling System Mounted To A Wall/Window
- Laundry Room
- Fireplace in Kitchen
- Resident Manager or Management On Site
- Tile Flooring
About This Home
As of June 2017Evergreen 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 to $ 500; 1 bedrooms to $ 600.
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 8.6.
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.
Last Agent to Sell the Property
Yandow Realty Group License #00594950 Listed on: 05/20/2017
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1980
Lot Details
- 0.4 Acre Lot
- 1 Common Wall
- Wrought Iron Fence
- Landscaped
- Sprinklers Throughout Yard
Home Design
- 29,400 Sq Ft Home
- Property Attached
- Slab Foundation
- Concrete Roof
Kitchen
- Electric Cooktop
- Fireplace in Kitchen
Flooring
- Carpet
- Tile
- Vinyl
Bedrooms and Bathrooms
- 1 Bedroom
- 3 Bathrooms
Home Security
- Carbon Monoxide Detectors
- Fire and Smoke Detector
Parking
- Parking Available
- Unassigned Parking
Pool
- Gunite Pool
- Fence Around Pool
Utilities
- Cooling System Mounted To A Wall/Window
- Heat Pump System
- Electric Water Heater
Additional Features
- Laundry Room
- Suburban Location
Listing and Financial Details
- Tenant pays for cable TV, electricity, gas
- Assessor Parcel Number 033240015000
Community Details
Overview
- 8 Buildings
- 64 Units
Recreation
- Community Pool
Building Details
- 58 Separate Electric Meters
- 58 Separate Gas Meters
- Electric Expense $12,000
- Insurance Expense $14,000
- Professional Management Expense $15,000
- Trash Expense $6,000
- Water Sewer Expense $30,000
- New Taxes Expense $29,400
- Operating Expense $208,000
- Gross Income $28,200
- Net Operating Income $160,000
Additional Features
- Laundry Facilities
- Resident Manager or Management On Site
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Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/16/2017 06/16/17 | Sold | $2,750,000 | -8.3% | $94 / Sq Ft |
| 05/31/2017 05/31/17 | Pending | -- | -- | -- |
| 05/20/2017 05/20/17 | For Sale | $3,000,000 | -- | $102 / Sq Ft |
Source: California Regional Multiple Listing Service (CRMLS)
Tax History Compared to Growth
Agents Affiliated with this Home
Map
Source: California Regional Multiple Listing Service (CRMLS)
MLS Number: MC17112591
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