Multifamily

Saratoga

Listing Price: $7,150,000

Cap Rate
5.32%
Number of Units
82
GRM
8.87
Occupancy
93.64%
Price/Unit
$87,195
Price/Gross SF
$151.93
Gross SF
47,060

Investment Overview

Marcus & Millichap is pleased to present Saratoga Apartments located in Merced,CA. The property is single- story construction. Built in 1976, the complex is 82 units totaling 47,060 square feet on a 174,240 square foot lot. The property consists of eleven buildings.The building has a favorable unit mix of (30) studios that are 430 square feet, (30) one-bedroom/one-bathroom units units that are 530 square feet and (22) two-bedroom/one-bathroom units that are 830 square feet. Each unit is separately metered for gas and electric as well as (2) on-site laundry rooms that the owner leases for additional income. The property is on a boiler system for heat.

Saratoga Apartments is located in a great rental area of Merced with walking distance to shopping, restaurants, entertainment,etc. There is easy access on and off Highway 99. The property is behind the Merced Mall (Sears, Target, CVS, JCPenney, Kohls, etc.)Other Shopping options include: College Green Shopping Center (Save Mart, Walgreens,Autozone and fast food restaurants). The property is less than a mile to Merced High School
and is a few miles from UC Merced College. Across the street from Saratoga Apartments is public transportation that will take you anywhere in Merced and Cat Trax (takes you directly to and from UC Merced.)

Priced at a 5.27 cap rate and 8.75 GRM on current income, the subject property represents a position leverage opportunity to add value through continuing interior renovations and increasing rents to new tenants

Investment Highlights

  • Single-Story Construction
  • Attractively Priced at a 5.32% Cap Rate on Current Operations and a 6.10% on ProForma
  • Walking Distance to Merced Mall (JC Penney, CVS, Kohls, Target, Etc.)
  • Sparkling Pool
  • Public Transportation Across The Street From Property (Direct Access to UC Merced)

Exclusively Listed By

Listing Price: $7,150,000

Cap Rate
5.32%
Number of Units
82
GRM
8.87
Occupancy
93.64%
Price/Unit
$87,195
Price/Gross SF
$151.93
Gross SF
47,060

Investment Highlights

  • Single-Story Construction
  • Attractively Priced at a 5.32% Cap Rate on Current Operations and a 6.10% on ProForma
  • Walking Distance to Merced Mall (JC Penney, CVS, Kohls, Target, Etc.)
  • Sparkling Pool
  • Public Transportation Across The Street From Property (Direct Access to UC Merced)

Investment Overview

Marcus & Millichap is pleased to present Saratoga Apartments located in Merced,CA. The property is single- story construction. Built in 1976, the complex is 82 units totaling 47,060 square feet on a 174,240 square foot lot. The property consists of eleven buildings.The building has a favorable unit mix of (30) studios that are 430 square feet, (30) one-bedroom/one-bathroom units units that are 530 square feet and (22) two-bedroom/one-bathroom units that are 830 square feet. Each unit is separately metered for gas and electric as well as (2) on-site laundry rooms that the owner leases for additional income. The property is on a boiler system for heat.

Saratoga Apartments is located in a great rental area of Merced with walking distance to shopping, restaurants, entertainment,etc. There is easy access on and off Highway 99. The property is behind the Merced Mall (Sears, Target, CVS, JCPenney, Kohls, etc.)Other Shopping options include: College Green Shopping Center (Save Mart, Walgreens,Autozone and fast food restaurants). The property is less than a mile to Merced High School
and is a few miles from UC Merced College. Across the street from Saratoga Apartments is public transportation that will take you anywhere in Merced and Cat Trax (takes you directly to and from UC Merced.)

Priced at a 5.27 cap rate and 8.75 GRM on current income, the subject property represents a position leverage opportunity to add value through continuing interior renovations and increasing rents to new tenants

Exclusively Listed By

MM Texture Background
MM Textured Background Lower