Cogent Bay Fund 1
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Cogent Bay Fund 1
  • WELCOME
  • About Us
    • OUR MODEL
    • LEADERSHIP
  • OUR PORTFOLIO
  • CONTACT US
  • LAND FOR SALE

FUTURE OFFERING: VANTAGE POINTE APARTMENT COMMUNITY

VANTAGE Pointe Multi-Family & Student Housing Living

3700 Horizons Avenue, Merced, California


Nestled between University of Merced and Merced College, this 128 unit multi-family development is located in Merced County, a growing and thriving community in California's Central Valley. This Hacienda style development features garden style apartments ranging from one to three bedrooms, complete with in-suite laundry, laminate flooring, stainless steel appliances, private patios and granite countertops.  Our project pays homage to the architecture of the early Spanish influence in this region with a modern aesthetic, and stands out in this up and coming neighborhood. Additional amenities include onsite private parking, some covered, leasing office, clubhouse, social space, pool and a fitness center.


Check out our Lease Up SPLASH Page

Photo Gallery

Check Out Our Progress

December 2023

What Makes This Property Unique

Overall

SPECIFICATIONS

Valued at: $48,000,000

Units: 128

Style: Two Story Garden Walk Up 

Roof: Pitched with Tile

Build Complete Date: August 2024

Rentable Square Footage: 131,976

Asset: Class A

Site: 10.42 Acres

On Site Parking Spacing: 273 (15% covered)

Number of Buildings: 16 Residential; 1 Common


DEMOGRAPHICS

  • Walking distance to Merced College
  • 6 mile drive to University of California, Merced
  • Centrally located along HIghway-99 providing access to the greater Central Valley
  • Public Transportation is located across the street from the community
  • 1 mile drive to Merced Mall
  • Merced Dog Park and Merino Public Park located across the street from the community
  • Less than 2 hours drive to Yosemite National Park to the East, and Monterey Bay to the West
  • Major hub for the proposed California High Speed Rail, bringing San Francisco and San Jose a mere 60 minutes away by train


ATTRACTION

Favored by students for its quiet and safe community, easy access Merced College and UC Merced.


On the list of preferred housing for travelling professionals and essential workers because of generous amenities and convenient distance to major hospitals, educational centers, and high profile employers. 


Preferred by pet owners for to the proximity of Merced Dog Park, access to beautiful walking paths, and a generous pet policy.

What Our Investors Can Expect

Income

RENTAL INCOME

Monthly Rents: $145,320++

Annual Rents: $1,743,840++

Other Annual Income: $81,600

Assumptions

Rental Growth Rate: 4.00%

Expense Growth Rate: 4.00%

Property Growth Rate: 4.00%

Marginal Tax Rate: 0.00%

Capital Gain Tax Rate: 0.00%

Financial Ratios

Year 1 Financial Ratios

Debt Coverage Ration (DCR): 2.26

Capitalization Rate Based on Cost: 4.70%

Capitalization Rate Based on FMV: 4.52%

Value of Property Using this Cap Rate: $25,250,730

Cash on Cash Return before Taxes: 9.36%

Cash on Cash Return after Taxes: 9.36%

Gross Rent Monthly Multiplier (GRM): 178.92


Year 5 Financial Ratios

Debt Coverage Ration (DCR): 2.40

Capitalization Rate Based on Cost: 5.44%

Capitalization Rate Based on FMV: 4.47%

Value of Property Using this Cap Rate: $29,265,107

Cash on Cash Return before Taxes: 11.36%

Cash on Cash Return after Taxes: 11.36%

Gross Rent Monthly Multiplier (GRM): 178.92 


Year 10 Financial Ratios

Debt Coverage Ration (DCR): 2.90

Capitalization Rate Based on Cost: 6.56%

Capitalization Rate Based on FMV: 4.43%

Value of Property Using this Cap Rate: $35,255,132

Cash on Cash Return before Taxes: 15.33%

Cash on Cash Return after Taxes: 15.33%

Gross Rent Monthly Multiplier (GRM): 178.92  


$25,000

1031 Exchange Investor $100,000

$25,000

Cash Investor

62%

1031 Exchange Investor $100,000

$25,000

Fully Loaded LTV

1031 Exchange Investor $100,000

1031 Exchange Investor $100,000

1031 Exchange Investor $100,000

Minimum Investment

Construction Loan

2% spread over 10 year treasury rate

2% spread over 10 year treasury rate

Loan Terms

2% spread over 10 year treasury rate

2% spread over 10 year treasury rate

2% spread over 10 year treasury rate

Interest Rate

$30,000,000

2% spread over 10 year treasury rate

$30,000,000

Equity Offering

  • OUR PORTFOLIO
  • THE OFFERING
  • GALLERY 1560
  • GALLERY CLLAIMM
  • DANIELS HOUSE

COGENT BAY REALTY INC.

David C. Sowels, Fund Managing Director | Email: dsowels.3nrealty@gmail.com or dcsowels@cogentbay.com

Cell (707) 694-0221

Copyright © 2025 COGENT BAY REALTY INC. - All Rights Reserved.

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