NOT LISTED FOR SALE

2181 Keely Ave Merced, CA 95340

7 Beds
4 Baths
1,080 Sq Ft
0.41 Acres

Last Sold August 31, 2012

Last sale price $188,000 $174 Per Sq Ft

119 Days on Market

About This Home

As of August 2012

This opportunity is for 3 houses on a single parcel. Each house has been completely remodeled since property was acquired on a short sale in 2010. There are three houses, one parcel, one APN.
1788 East 22nd 1 bedroom, rented at $ 550
2169 Keely, 2 bedroom, rent of $745
2181 Keely, 4 bd rented at $ 950
Under excellent local property management, monthly fee of $ 100.
Water-sewer runs ~ $ 191 a month

This is subject to inspection and the leases. Please do not disturb the tenants.
Estimated net operating income is ~ $ 20,000, making this a 10% cap rate.

Last Agent to Sell the Property

Mark Yandow

Yandow Realty Group License #00594950 Listed on: 03/13/2012

Last Buyer's Agent

Mark Yandow

Yandow Realty Group License #00594950 Listed on: 03/13/2012

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1947

Lot Details

  • 0.41

Parking

  • 2 Car Garage
  • Parking Available
  • Assigned Parking

Home Design

  • 1,080 Sq Ft Home

Bedrooms and Bathrooms

  • 7 Bedrooms
  • 4 Bathrooms

Additional Features

  • 0.41 Acre Lot
  • Wall Furnace

Listing and Financial Details

  • Tenant pays for exterior maintenance, gas, grounds care
  • Assessor Parcel Number 034121019000

Community Details

Overview

  • No Home Owners Association
  • 3 Buildings
  • 3 Units

Building Details

  • 3 Separate Electric Meters
  • 3 Separate Gas Meters
  • 1 Separate Water Meter
  • Insurance Expense $1,000
  • Professional Management Expense $1,200
  • Trash Expense $460
  • Water Sewer Expense $2,280
  • New Taxes Expense $2,000
  • Gross Income $2,245
  • Net Operating Income $20,000

Property Details

Home Type

Multi-Family

Year Built

Built in 1947

Lot Details

0

Parking

2

Listing Details

  • CapRate: 10.00
  • Professional Management Expense: 1200.00
  • Water Sewer Expenses: 2280.00
  • Property Type: Residential Income
  • Parcel Number: 034121019000
  • Year Built: 1947
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Levels: One
  • Price Per Square Foot: 174.07

Garage/Parking

  • Garage Spaces: 2.00
  • Parking: Yes
  • Parking Features: Assigned
  • Total Parking Spaces: 5.00

Utilities

  • Heating: Yes
  • Heating Type: Wall Furnace
  • Trash Expense: 460.00

Condo/Co-op/Association

  • Association: No

Lot Info

  • Lot Size Sq Ft: 17855.00
  • Lot Size Acres: 0.4100

Rental Info

  • Tenant Pays: Exterior Maintenance, Gas, Grounds Care

Multi Family

  • Average1 Bed Area: 600
  • Average2 Bed Area: 900
  • Average3 Bed Area: 1500
  • Gross Income: 2245.00
  • Gross Scheduled Income: 26490.00
  • Insurance Expense: 1000.00
  • Lot Size Area: 17855.0000 Square Feet
  • Net Operating Income: 20000.00
  • Number Of Separate Electric Meters: 3
  • Number Of Separate Gas Meters: 3
  • Number Of Separate Water Meters: 1
  • Number Of Units Total: 3
  • Number With Carpet: 3
  • Number With Range: 3
  • Number With Refrigerator: 3
  • Operating Expense: 6490.00
  • Rent Control: No

Tax Info

  • New Taxes Expense: 2000.00
  • Tax Year: 2011

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
08/31/2012 08/31/12 Sold $188,000 -6.0% $174 / Sq Ft
07/10/2012 07/10/12 Pending -- -- --
03/13/2012 03/13/12 For Sale $200,000 -- $185 / Sq Ft
Source: California Regional Multiple Listing Service (CRMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Mark Yandow

    Seller's Agent in 2012

    Mark Yandow

    Yandow Realty Group

    (805) 801-6644

    6 Total Sales

    Mark Yandow
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Map

Source: California Regional Multiple Listing Service (CRMLS)

MLS Number: MC12033402

California Regional Multiple Listing Service (CRMLS)

APN: 034-121-019

California Merced County Merced 95340

2181 Keely Ave, Merced, CA

Not Listed for Sale

MultiFamily

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