203 W 20th, Merced, California 95340, Merced, 95340 - 3 bed, 4 bath
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Merced, California 95340
This Multi-Structure Value-Add Asset is listed at $675,000, reflecting the premium for its high-density zoning compared to the $605,286 Fair Market Value. The property’s R3 Zoning and 15,000 sqft lot provide a strategic opportunity to convert the existing church structure into 4–8 residential units with neighborhood views. Currently holding a Condition Rating of 4, the 1950s-built homes require modernization to maximize ROI. Located within the Merced City High School District, this high-utilization site is an ideal acquisition for Real Estate Developers or Portfolio Investors seeking forced appreciation.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 203 W 20th Subject | $599,000* List Price | 3 | 4 | 3,551 | $163 | - |
A 1037 W Santa Fe Sold | $683,334 | 0 | 0 | 4,356 | $157 | 0.8 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1950, this multi-structure property is functional but significantly outdated. The kitchens and bathrooms across the two homes and church building feature mid-century styles, older cabinetry, and aged appliances. While the property has been maintained through regular upkeep, the infrastructure and interior finishes show clear signs of age and require modernization to meet current market standards.
The property has a large lot size, which is more than 4 times of its living area. lot size in square feet = 15000, living area = 3551.
The R3 zoning and existing church structure provide a rare opportunity for conversion into 4-8 residential units, offering significant value-add potential for savvy investors.
The property features two separate single-family homes in addition to the large church building, allowing for diversified rental income from multiple structures on a single 15,000 sqft lot.
Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 7.
Transforming a 1950s church into residential units requires substantial capital investment, architectural planning, and navigating complex city/county approval processes.
Given the 1950 build date, the structures likely require extensive modernization of electrical, plumbing, and HVAC systems to meet current building codes and tenant expectations.
Prime Investment Opportunity with Incredible Upside! This rare R3-zoned property offers exceptional cash flow potential and endless possibilities. Featuring a large, beautiful church building and two single-family homes, all conveniently located near downtown and shopping. The church includes two separate restrooms with stalls and a spacious rec room, with potential for conversion to a rec center or 4–8 units (buyer to verify with city and county). The corner home offers 3 bedrooms, 1 bath, and a fenced backyard. The second home features 3 bedrooms, 1 bath, a bonus room, and an indoor laundry. Multi-structure properties like this don’t come around often — opportunity is knocking.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 4.0 | 2.0 | 98% |
| Square foot | 3,551 | 1,576 | 98% |
| Lot Size | 15,000 | 7,500 | 93% |
| Price | $599.0K | $381.0K | 94% |
| Price per sq ft | $169 | $246 | 7% |
| Built year | 1950 | 1964 | 21% |
| HOA | $0 | $0 | 50% |
| Days on market | 61 | 161 | 12% |
Mar 31, 2026
$599,000
$649,000
-8% Price Drop
Initial Listing
Mar 13, 2026
$649,000
$675,000
-4% Price Drop
Initial Listing
Feb 20, 2026
$675,000
Initial Listing
Mar 2, 2022
$412,500
Public Record
Sep 24, 2021
$345,000
Public Record
Aug 21, 2015
$250,000
Public Record
Jun 2, 2014
$195,000
Public Record
Mar 5, 2009
$225,000
Public Record
Jul 28, 2006
$400,000
Public Record
Mar 9, 2006
$80,000
Public Record
Oct 24, 2001
$94,000
Public Record