Hwy 59 Apartments 2790 N State Highway 59 12 Unit Apartment Building $3,140,820 CAD ($261,735 CAD/Unit) Merced, CA 95348

Adroit Real Estate is pleased to present the exclusive opportunity to acquire 2790 N. State Highway 59, a well-maintained 12-unit multifamily investment built in 1994. Each unit offers a desirable and efficient floor plan consisting of two bedrooms and one bathroom, contributing to consistent tenant demand and occupancy. Ownership has held and cared for the asset since 2010, showcasing clear pride of ownership. The property currently produces $12,525 per month in rental income, averaging approximately $1,043 per unit, with nine scheduled rent increases that will elevate total income to $13,425 per month.
Strategically located just 14 minutes from UC Merced and offering convenient access to Highway 99, the property is positioned in a growing rental corridor benefiting from ongoing regional population and economic expansion. With current rents below market—where comparable units are leasing near the $1,500 per-month range—significant value-add potential exists through rental adjustments and continued operational optimization. Based on achievable market rents and performance metrics, the property reflects a compelling pro forma cap rate of approximately 7%, making it an attractive investment for both seasoned operators and new market entrants. This offering represents a rare opportunity to acquire a stable, income-producing asset with meaningful upside in one of the Central Valley’s most expanding submarkets.