NOT LISTED FOR SALE

305 Portico Dr Merced, CA 95348

Bellevue Ranch Neighborhood

Estimated Value: $3,755,000 - $4,018,000

0.05 Acre
$77,730,000 Price per Acre
2,178 Sq Ft Lot

Last Sold April 29, 2022

Last sale price $6,800,000

Est. 43% decrease in value since last sale

Current estimated payment $20,216/month

307 Days on Market

Highlights

  • Corner Lot
  • No HOA
  • High Speed Internet

About This Lot

As of April 2022

136 Finished Lots - All lots have utilities and are ready to build per buyer's own plans and subject to City approval plus 6 models are completed and permitted for use as rentals. All units currently rented out on a month to month agreement with tenants. Buyer would be required to change the commercial zone back to residential zone on 57 lots to be all residential community. Commercial Zoning from residential to commercial use and fees paid with proposed plan only. Buyer to create actual plans and obtain City approval. Approximately 57 lots would need to be removed to build a commercial complex with 2 buildings, parking lot and area including drain basin.

Last Agent to Sell the Property

Kelly Hasko

Realty Executives of Northern California License #01790310 Listed on: 07/23/2020

Realty Executives of Northern California

Last Buyer's Agent

Salim Farha

Realty Executives of Northern California License #01485855

Realty Executives of Northern California

Property Details

Property Type

  • Land

Lot Details

  • 2,178 Sq Ft Lot
  • Corner Lot
  • Paved or Partially Paved Lot
  • 136 Lots in the community
  • Possible uses of the property include Commercial, Subdivision
  • Property is zoned R1, Commercial,Residential,See Remarks

Utilities

  • High Speed Internet

Community Details

  • No Home Owners Association
  • Bellevue Ranch Campus Paseo Subdivision

Listing and Financial Details

  • Assessor Parcel Number 170-010-001-000

Property Details

Property Type

Land

Lot Details

0

Listing Details

  • Property Type: Land
  • Property Subtype 1: Residential Lot
  • Primary Residence: See Remarks
  • Subdivision: Bellevue Ranch Campus Paseo
  • ResoPropertyType: Land
  • Special Features: None
  • Property Sub Type: LotsLands

Interior Features

  • Other Equipment: None

Exterior Features

  • Other Structures: None
  • Disclosures/Documents: CC&Rs, Natural Hazard Disclosure Available, Preliminary Title Report, See Remarks
  • Horse Property: No
  • Listing Price: 7500000.00
  • Lot Features: Corner, Curb(s), Gutter(s), Paved, Sidewalk(s), Street Light(s), See Remarks
  • Road Surface Type: Paved
  • Additional Living Units: No

Utilities

  • Sewer: Sewer Connected
  • Utilities: Internet Available

Condo/Co-op/Association

  • Association: No

Schools

  • Senior High School District: Merced Union High

Lot Info

  • Zoning: R1
  • Crops: None
  • Current Use: See Remarks
  • Development Status: Lot Build To Suit, Tentative Map Filed, See Remarks
  • Number of Lots: 136
  • Zoning Description: Commercial,Residential,See Remarks
  • Irrigation: Public District
  • Lot Size Acres: 0.0500
  • Lot Size Sq Ft: 2178.00
  • Possible Use: Commercial, Subdivision

Multi Family

  • Income Includes: See Remarks

Tax Info

  • Assessor Parcel Number: 170-010-001-000
  • Bonds/Assessments/Taxes: Unknown

MLS Schools

  • School District (County): Merced

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Aug 12, 2022
Sold by
Mg Star Llc
Bought by
Bellevue Paseo Llc
Current Estimated Value
$3,886,500

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$8,683,998
Outstanding Balance
$8,270,771
Interest Rate
5.7%
Mortgage Type
Credit Line Revolving
Estimated Equity
-$4,384,271

Purchase Details

Listed on
Jul 23, 2020
Closed on
Apr 29, 2022
Sold by
Peter And Ling Lau Living Trust
Bought by
Mg Star Llc
Seller's Agent
Kelly Hasko
Realty Executives of Northern California
Buyer's Agent
Salim Farha
Realty Executives of Northern California
List Price
$75,000,000
Sold Price
$6,800,000
Premium/Discount to List
-$68,200,000
-90.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
-13.69%
Original Mortgage
$4,828,233
Interest Rate
5.1%
Mortgage Type
Construction

Purchase Details

Listed on
Jul 23, 2020
Closed on
Apr 25, 2022
Sold by
Peter And Ling Lau Living Trust
Bought by
Mg Star Llc
Seller's Agent
Kelly Hasko
Realty Executives of Northern California
Buyer's Agent
Salim Farha
Realty Executives of Northern California
List Price
$75,000,000
Sold Price
$6,800,000
Premium/Discount to List
-$68,200,000
-90.93%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$4,828,233
Interest Rate
5.1%
Mortgage Type
Construction

Purchase Details

Closed on
Jun 9, 2009
Sold by
Westamerica Bank
Bought by
Bellevue Ranch Paseo Llc

Purchase Details

Closed on
Feb 26, 2009
Sold by
Merced Paseo Llc
Bought by
County Bank
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Bellevue Paseo Llc -- Simplifile
Mg Star Llc $6,800,000 North American Title
Mg Star Llc $6,800,000 North American Title
Bellevue Ranch Paseo Llc $1,650,000 Lsi Title Agency
County Bank $2,028,229 None Available
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Bellevue Paseo Llc $8,683,998
Previous Owner Mg Star Llc $4,828,233
Previous Owner Mg Star Llc $4,828,233
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
04/29/2022 04/29/22 Sold $6,800,000 -9.3% --
05/26/2021 05/26/21 Pending -- -- --
07/23/2020 07/23/20 Price Changed $7,500,000 -90.0% --
07/23/2020 07/23/20 For Sale $75,000,000 -- --
Source: MetroList

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $406 $37,460 $37,460 --
2024 $406 $36,726 $36,726 --
2023 $401 $36,006 $36,006 $0
2022 $119 $9,876 $9,876 $0
2021 $119 $9,683 $9,683 $0
2020 $118 $9,584 $9,584 $0
2019 $116 $9,397 $9,397 $0
2018 $105 $9,213 $9,213 $0
2017 $108 $9,033 $9,033 $0
2016 $107 $8,856 $8,856 $0
2015 $105 $8,723 $8,723 $0
2014 $103 $8,553 $8,553 $0
Source: Public Records

Agents Affiliated with this Home

  • Kelly Hasko

    Seller's Agent in 2022

    Kelly Hasko

    Realty Executives

    (209) 495-1263

    8 in this area

    108 Total Sales

    Kelly Hasko
    Section Image
  • Salim Farha

    Buyer's Agent in 2022

    Salim Farha

    Realty Executives

    (209) 658-8918

    1 in this area

    35 Total Sales

    Salim Farha
    Section Image
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Map

Source: MetroList

MLS Number: 20042740

MetroList

APN: 170-010-001

California Merced County Merced 95348 Bellevue Ranch

305 Portico Dr, Merced, CA

Not Listed for Sale

Lots

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