Multifamily property sales remain strong in 2018!
Compared to 2017 YE, here are the numbers for 2018 Q1:
|2017YE/2018Q1||# Units Sold||Average SP||PPSF||DOM|
Four NV properties sold in 2018 Q1: three 2-4 units averaging $802k (one, a fourplex in Incline Village, sold for $1.15M), and one 21 unit building for $2M (a TIP transaction).
Continuing the trend from 2017, prices are up for 2018. Average sales prices and price per square foot rose 7.2% and 25.3%, respectively, over 2017 YE numbers.
Current CA and NV MLS listings:
|Address||List Price||DOM||# Units||Price/Unit||SF||PPSF|
|1273 Dedi Ave, SLT||$425k||7||2||$212.5K|
|1056 Glen Rd, SLT||$549K||92||3||$183K||2490||$220|
|3740 Woodbine Rd, SLT||$559K||85||2||$279.5K||2400||$233|
|3706 Montreal Rd, SLT||$599||91||4||$149.75K||2832||$274|
|3140 Oakland Ave, SLT||$699K||8||2||$349.5K||2444||$274|
|795 Bigler Ct, Stateline||$725K||935||2||$362.5K||3570||$203|
|1069 Peace Pipe, Incline Village||$950K||34||2||$450K||3456||$275|
With so few properties listed on the MLS,
Now is an excellent time to list your multifamily property.
MY CLIENTS ARE LOOKING FOR 2-3 UNIT PROPERTIES TODAY!
2 homes on 1 large lot, each is one bedroom one bath. Centrally located, just one block off Ski Run Blvd and abutting the new Bijou Shopping Center. One house is newer construction; the other has that classic SLT cabin feel. Sold for full ask, $399k, in 75 days.
SOLD in the past 12 months:
3835 Pentagon, SLT, duplex, representing B/S, $410k
1015 Glen Rd, SLT, duplex, representing S, $420k
1256 Sierra Blvd, duplex, representing S, $436k
84 McFaul Way, NV, 21 units, representing B, $2M
3607 Bill Ave, SLT, two-on-one, representing S, $399k
My Pocket Listings:
8 CA units, 3/2 house, convenient for workers, recent improvements, CALL
11 CA units, new roof, paint, near the lake, separately metered, CALL
14 CA units, all nicely upgraded units, $15k+/mo. income, CALL
What people are saying:
“I LOVE DOING BUSINESS WITH PROFESSIONALS!”
MY CLIENTS ARE LOOKING FOR 2-3 UNIT PROPERTIES!
Call today to discuss listing your multifamily property.