Since my last Newsletter, the real estate market has remained very active. As of June 3, eleven 2-4 unit properties have sold, and 8 are in escrow. Of those sold:
- Average sale price: $374k (up substantially from 2016’s $340k average).
- Average sales price per SF: $185 (up $5/ft over Update #2).
- Average DOM: 109.
No multifamily NV properties have sold in 2017, and only 1 CA property of 5+ units closed at $625k (my listing!).
Currently only eleven 2-4 unit properties are for sale on the MLS (3 are my listings), with two 5+ unit properties listed.
ARE YOU A BUYER? Check out my listings:
1015 Glen, 3/2/1, 2/1.5/1, separately metered, great location $390k
3835 Pentagon, two 3/2/1s, separately metered, detached garages, great location $439k
3739 Ruby, three 2/1s w/ FP, one 1/1, 2 garages, separately metered, $580k
5 units in NV $795k
6 units great location near the lake, 2 studios, 2 – 1/1, 2 – 2/1, $695k
NEW 7 units in excellent condition, large lot, 3/1 house and six 1/1s, $895k
8 units, 3/2 house, $880k
NEW 8 units, (2) 3/1; (4) 2/1; (2) 1/1; Excellent location, covered parking CALL
11 units, 4 – 1/1, 6 – 2/1, 1 – S, new roof, paint, near the lake, $1.4M
14 units, two 2/1, 12 – 1/1, many upgraded units, $1.6M
128 units $7M (Sacramento)
ARE YOU CONSIDERING SELLING YOUR MULTI-FAMILY PROPERTY?
I have clients looking for multi-family properties, especially 10+ units, in any area.
The market is very strong right now! Inventory is low, demand is up, interest rates remain low, rents are increasing, and prices are increasing. If you are a buyer, do not delay your acquisition or you risk paying more later on. If you are a seller, now is the perfect time to list your property ~ the season has just begun.
Call David Today