1031 Exchange + Cash / Debt Free Investment Opportunity
1031 Exchange + Cash / Debt Free Investment Opportunity
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.
December 2023
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
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.
RENTAL INCOME
Monthly Rents: $145,320++
Annual Rents: $1,743,840++
Other Annual Income: $81,600
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%
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
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
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
Cash Investor
Fully Loaded LTV
Minimum Investment
Loan Terms
Interest Rate
Equity Offering
Copyright © 2024 COGENT BAY REALTY INC. - All Rights Reserved.
Powered by GoDaddy
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.