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THE PALMS | 22 UNIT APARTMENT BUILDING 2355 K St

22 Unit Apartment Building $2,995,000 ($136,136/Unit) Merced, CA 95340

Apartment Buildings California Merced 2355 K St, Merced, CA 95340

Investment Highlights

  • Near Downtown and Amtrak Station
  • Recently Renovated
  • Home of the UC Merced "Bobcats"
  • Near restoration of El Capitan and Tioga hotels and Mainzer Theater

Executive Summary

Welcome to “The Palms,” home to the UC Merced Bobcats.
This completely renovated 22-Unit apartment complex is in the heart of Merced. Built in 1960 with a stable tenant profile, situated on a 20,000+ Sq. Ft. lot. With a mix of 18 Studio units and 4 one-bedroom units, each residence has been recently upgraded with vinyl flooring, new kitchen cabinets, beautiful countertops, and sleek new bathrooms. The Palms property has two buildings with studios of 411 living square footage, and 1-bedrooms with 565 of living square footage. This apartment has an on-site laundry facility, new 30-year composition roof, all new iron gate fencing & enclosed private gate parking for all residents.
- California High Speed Rail Station
- Near restoration of El Capitan and Tioga hotels and Mainzer Theater
- Gateway to Yosemite National Park.

Attachments

2355 K ST APARTMENTS BROCHURE (1)

Property Facts

Price $2,995,000 Building Class C
Price Per Unit $136,136 Lot Size 0.52 AC
Sale Type Investment Building Size 11,200 SF
Sale Conditions 1031 Exchange No. Stories 2
No. Units 22 Year Built/Renovated 1960/2024
Property Type Multifamily Parking Ratio 2.05/1,000 SF
Property Subtype Apartment Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style Low Rise
Price $2,995,000
Price Per Unit $136,136
Sale Type Investment
Sale Conditions 1031 Exchange
No. Units 22
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.52 AC
Building Size 11,200 SF
No. Stories 2
Year Built/Renovated 1960/2024
Parking Ratio 2.05/1,000 SF
Opportunity Zone Yes
State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Unit Amenities

  • Air Conditioning
  • Heating
  • Kitchen
  • Granite Countertops
  • Refrigerator
  • Range
  • Vinyl Flooring
  • Window Coverings

Site Amenities

  • Fenced Lot
  • Laundry Facilities
  • Gated
  • Wheelchair Accessible
  • Maintenance on site

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
Studios 18 $1,000 411
1+1 4 $1,200 565
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Walk Score ®
Very Walkable (76)
Bike Score ®
Very Bikeable (76)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®
Learn How It Works Detailed Scores

PROPERTY TAXES

Parcel Number 030-183-003 Improvements Assessment $2,044,256
Land Assessment $153,000 Total Assessment $2,197,256

PROPERTY TAXES

Parcel Number
030-183-003
Land Assessment
$153,000
Improvements Assessment
$2,044,256
Total Assessment
$2,197,256

zoning

Zoning Code R2, Merced (Apartments)
R2, Merced (Apartments)
(209) 383-3000

Contact

  • Armando Diaz
    Armando Diaz
  • Soldavi

  • Listing ID: 33599445

  • Date on Market: 10/22/2024

  • Last Updated:

  • Address: 2355 K St, Merced, CA 95340

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THE PALMS | 22 UNIT APARTMENT BUILDING | 2355 K St
(209) 383-3000 x

THE PALMS | 22 UNIT APARTMENT BUILDING | 2355 K St

Armando Diaz

(209) 383-3000

(209) 383-3000

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