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1680-1695 Ellen Ave 22 Unit Apartment Building $2,450,000 ($111,364/Unit) 7.20% Cap Rate Merced, CA 95341
Investment Highlights
- Portfolio Sale - All 3 Properties to be Sold Together
- 8 Vacant Units - All Remodeled/Updated
- Easy Access to 99 Freeway
- 22 Units Across 3 Parcels - On Site Manager Not Required
- 90% Two Bedroom Units - 8 Townhome Style
- Walking Distance to Golden Valley High School
Executive Summary
Equity Union Commercial is pleased to present this 22-unit, 3-parcel multifamily investment opportunity. Located at 1680, 1685, and 1690 Ellen Avenue in Merced, California.
This subject property consists of a total of four buildings across from each other. 1685 (APN:035-123-023) is a 14-unit apartment building built in 1979. 1680 (APN:035-124-032) is a 4-unit apartment building built in 1964 as well the mirror building next door at 1690 (APN:035-124-031). These apartment buildings on Ellen Ave total to 22 units.
There is a total of 19,236 rentable SF with a lot size of 33,471 SF. There are 24 parking spots throughout the entire area with street parking available as well. There are several laundry facilities and most units have central air or wall units. Man units have been upgraded over the years, 8 units have been remodeled in 2026. Most units in 1680-1690 have hardwood floors and some units have private backyards.
Located just south of the I-140 between the I-99 and Parsons Ave, this subject property is located in a high rental demand area nearby Golden Valley High School and right behind Rancho San Miguel Supermarket.
This subject property consists of a total of four buildings across from each other. 1685 (APN:035-123-023) is a 14-unit apartment building built in 1979. 1680 (APN:035-124-032) is a 4-unit apartment building built in 1964 as well the mirror building next door at 1690 (APN:035-124-031). These apartment buildings on Ellen Ave total to 22 units.
There is a total of 19,236 rentable SF with a lot size of 33,471 SF. There are 24 parking spots throughout the entire area with street parking available as well. There are several laundry facilities and most units have central air or wall units. Man units have been upgraded over the years, 8 units have been remodeled in 2026. Most units in 1680-1690 have hardwood floors and some units have private backyards.
Located just south of the I-140 between the I-99 and Parsons Ave, this subject property is located in a high rental demand area nearby Golden Valley High School and right behind Rancho San Miguel Supermarket.
Property Facts
| Price | $2,450,000 | Apartment Style | Garden |
| Price Per Unit | $111,364 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.76 AC |
| Cap Rate | 7.20% | Building Size | 19,236 SF |
| Gross Rent Multiplier | 7.62 | No. Stories | 2 |
| No. Units | 22 | Year Built | 1979 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | N/A, Merced | ||
| Price | $2,450,000 |
| Price Per Unit | $111,364 |
| Sale Type | Investment |
| Cap Rate | 7.20% |
| Gross Rent Multiplier | 7.62 |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.76 AC |
| Building Size | 19,236 SF |
| No. Stories | 2 |
| Year Built | 1979 |
| Opportunity Zone |
Yes |
| Zoning | N/A, Merced |
Amenities
Unit Amenities
- Balcony
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | $975.00 | 600 |
| 2+1 | 12 | $1,196 | 750 |
| 2+1.5 | 8 | $1,312 | 1,050 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $200,415 | |
| Land Assessment | $102,476 | Total Assessment | $302,891 |
Property Taxes
Parcel Numbers
Land Assessment
$102,476
Improvements Assessment
$200,415
Total Assessment
$302,891
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1680-1695 Ellen Ave
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