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"Evergreen Park apartments are located at the intersection of East Santa Fe and Glen, conveniently located on a bus route, walking distance to multiple schools, and ten minutes to the UC Merced Campus (~20% of tenants are students). The property is functionally full, with a a couple of move in and move outs each month. and rents are now moving up.  The rent on a new studio rental has increased from $ 375 to $ 475, and on the one bedroom from $ 475 to $ 595.  There are eight buildings, each with the same configuration.  Unit #1 is 1 large 1 bedroom, units 2-3-4 are downstairs studios, unit units 6-7-8 are upstairs studios, unit #5 is a downstairs studio with no unit above, a laundry room and a storage unit.  In general, two building face each other with enclosed courtyards.  There is a built in fenced pool for the tenants use. The office is located in the 1121 building.  The complex has a payment kiosk, that allows tenants to pay rent 24 hours a day via debit/credit cards, checks or money orders. Gross Rent Multiplier of 9.0.   The complex is listed significantly below replacement cost.  The cost of a building permit / entitlement fees is roughly the same amount as the $46, 0000 per unit list price."^^<http://www.w3.org/2001/XMLSchema#string>
<http://www.pmz.com/homes-for-sale/1101-E-Santa-Fe-Ave-Merced-CA-95340/m/MC16091251/>