Property Listing No Longer Available for Sale

715 W Main St., Merced, CA

Multi-family for Sale - $4,900,000 - 73,670 Sq. Ft. on 0.34 acres


Property Info

CIMLS#919215
Location
  715 W Main St.
  Merced CA 95340
UpdatedJanuary 30th, 2018
TypeMulti-family
Price$4,900,000
Building73,670 Sq. Ft.
Land0.34 acres

Property Description

TIOGA is the largest building in Merced and is a Historic Building that previously functioned as a Grand Hotel. The Tioga was built in 1928 and has hosted dignitaries from all over the world such as JFK, Calvin Coolidge, Eleanor Roosevelt, Marilyn Monroe, John Wayne, King Albert of Belgium, and many others. The architecture is incredible and representative of the roaring 1920s. The cost to replace the Tioga is immeasurable.

When built, the Tioga Hotel, was the center of social and commercial commerce. With the addition of UC Merced plus the new construction underway in Downtown Merced, Tioga will have the opportunity to be the focal point of this area.

The Tioga Hotel was placed on the National Register of Historic Places in 1980s with the conversion to Apartment Homes noted in the recorded document at that time.

Location Description:

The Tioga Apartments is located at the corner of N St. and West Main St. in historic Downtown Merced which is considered the gateway to Yosemite. The Tioga is the largest building in Merced and is surrounded by street retail, shops, restaurants, office buildings, and close to the Court House.

Highlights:

>> Located within a supply constrained rental market

>> Historic Trophy property

>> Immeasurable replacement cost

>> Located one - block from UC Merced Extension campus

>> Wait List for any rent ready apartments

>> Mixed-Use with majority apartments and ground floor retail

>> Rare opportunity to purchase a Nationally known property

>> Recently undergone renovations

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Financials