2790 N State Highway 59 Merced, CA 95348
Estimated payment $12,470/month
About This Home
Presenting 2790 N. State Highway 59, a well-maintained 12-unit multifamily property built in 1994. Each unit features a desirable 2-bedroom, 1-bathroom layout with strong rental appeal and stable occupancy. The property currently generates $12,525 per month, averaging approximately $1,043 per unit, with nine scheduled rent increases raising projected gross income to $13,425 per month. Located just 14 minutes from UC Merced with convenient Highway 99 access, this asset sits in a growing rental corridor with strong demand. With local market rents around $1,500 per unit, this property offers meaningful value-add potential and reflects an attractive 7% pro forma cap rate, making it an excellent opportunity for investors seeking upside in a stable asset class.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1994
Lot Details
- 18,034 Sq Ft Lot
Parking
- 15 Parking Spaces
Interior Spaces
- 2-Story Property
- Carbon Monoxide Detectors
Utilities
- Central Heating and Cooling System
- Water Heater
Listing and Financial Details
- Assessor Parcel Number 058-110-013-000
Community Details
Overview
- No Home Owners Association
- 2 Buildings
- 12 Units
Building Details
- 12 Leased Units
- 12 Units Leased Month-To-Month
Map
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 | $7,463 | $1,591,260 | $117,300 | $1,473,960 |
| 2024 | $7,463 | $610,493 | $56,940 | $553,553 |
| 2023 | $7,373 | $598,606 | $55,824 | $542,782 |
| 2022 | $8,124 | $586,952 | $54,730 | $532,222 |
| 2021 | $7,992 | $575,526 | $53,657 | $521,869 |
| 2020 | $7,210 | $569,668 | $53,107 | $516,561 |
| 2019 | $7,167 | $559,001 | $52,066 | $506,935 |
| 2018 | $6,556 | $547,712 | $51,046 | $496,666 |
| 2017 | $6,668 | $537,056 | $50,046 | $487,010 |
| 2016 | $6,568 | $526,609 | $49,065 | $477,544 |
| 2015 | $6,398 | $519,182 | $48,328 | $470,854 |
| 2014 | $6,255 | $511,084 | $47,382 | $463,702 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 12/01/2025 12/01/25 | For Sale | $2,250,000 | -- | -- |
Source: MetroList
MLS Number: 225148029
APN: 058-110-013
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