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305 Portico Drive $7,500,000

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    305 Portico Drive Merced, CA 95348

    • 0.05 Acres
    • Land
    • MLS# 20042740
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    Views: 70

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    Property Details

    136 Finished Lots - All lots have utilities and are ready to build per buyer's own plans and subject to City approval plus 6 models are completed and permitted for use as rentals. All units currently rented out on a month to month agreement with tenants. Buyer would be required to change the commercial zone back to residential zone on 57 lots to be all residential community. Commercial Zoning from residential to commercial use and fees paid with proposed plan only. Buyer to create actual plans and obtain City approval. Approximately 57 lots would need to be removed to build a commercial complex with 2 buildings, parking lot and area including drain basin.

    • General Features
      • Subdivision Bellevue Ranch Campus Paseo
      • Acreage 0.05
      • Approx. Lot Sq. Ft. 2178
      • HOA No
      • HOA Dues $0
      • Current Use Other-Rmks
      • County Merced
    • Property Features
      • Site Location Corner, Other-Rmks
      • Road Surface Paved
      • Road Frontage Public Maintained Rd
      • Outbuildings None
      • Irrigation Water Dist Public
      • Water Public at Site
      • Utility Electricity to Site, Natural Gas to Site
      • Vegetation None
      • Crops None
      • Improvements Curb(s), Gutters, Paved, Sidewalks, Street Lights
      • Special Conditions Other-Rmks
      • Probable Use Commercial, Subdivision
      • Horse Property No
      • Equipment Included None
    • Schools
      • Elementary School Merced City
      • Middle School Merced City
      • High School Merced Union High

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    Neighborhood

    95348 (Merced) Demographics

    29 Median Age
    706 Population Density (per sq. mile)
    29% College Educated
    $41,741 Estimated Median Income
    4,660 Estimated Total Home Owners
    6,097 Estimated Total Renters
    43% / 57% Estimated Owner / Renter Divide
    4 Estimated Average Household Size
    33,555 Total Population
    Community data courtesy of LiveBy, Inc.

    Market Last 30 Days In This Postal Code

    $311,000 Median Sales Price
    41 Homes Sold
    65 New On Market

    Average Days on Site

      Properties for Sale

        Calculations provided by Reliance Network

        Property History

        Date Event Price Percent Change
        -- Current Price Source New Value: $7,500,000
        7/23/2020 5:16:00 PM New in Database Source New Value: $7,500,000

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        **Assumes 3.5% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.
        Information is provided in part by the IDX program of METROLIST SERVICES, INC. All information provided is deemed reliable but is not guaranteed and should be independently verified. Listing information last updated 10/29/2020 5:44:53 PM. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Terms of Use

        Note: All room dimensions, including square footage data, are approximate and must be verified by the buyer. The information contained herein is furnished by the owner to the best of his/her knowledge but is subject to verification by the purchaser, and agent assumes no responsibility for the correctness thereof. The sale offering is made subject to errors, omissions, change of price, prior sale, or withdrawal without notice. In accordance with the Law, this property is offered without respect to race, color, creed, national origin, sex, familial status or disability. This is not intended to solicit property currently listed.