The 2017 market in South Lake Tahoe is very active for multifamily properties, with sales price averages up 25%+ over 2016 sales. Property sales through September 13, 2017, compared to all of 2016, are:
|2016 v. 2017||# Units Sold||Average SP||PPSF||DOM|
|2-4 Units||35 / 29||$340k / $449k||$185 / $206||109 / 100|
|5+ Units||8 / 5||$608k / $634k||$136 / $235||138 / 93|
As of September 13, 2017, we have:
- MLS Listings: Nine 2-4 unit properties on the MLS averaging $446k; 1980 SF; $235/SF; 70 DOM; and two 5+ units ranging from $695-825k.
- Pending sales: 19, including one 18 unit property listed at $2.35M
The multi-family segment of the market remains very strong. Prices are up 25%+ and 2017 sales will easily exceed 2016. Properties are selling quickly. Inventory remains low, interest rates are back down to 2016 levels, and rents are steady to increasing.
If you are a buyer, delay your acquisition and you risk paying more.
If you are a seller, now is the perfect time to list your property.
My MLS Listings:
3739 Ruby, fourplex w 2/1s (all w/ FP), 2 garages, laundry, sep. metered, $580k
COMING! 2/1.5 duplex with garages, nice area surrounded by forestland. CALL!
6 units great location near the lake, CALL
8 units, 3/2 house, convenient for workers, CALL
11 units, new roof, paint, near the lake, CALL
14 units, many upgraded units, CALL
21 units in NV, CALL
128 units in Sacramento CALL
ARE YOU CONSIDERING SELLING YOUR MULTI-FAMILY PROPERTY?
I have clients looking for multi-family properties, especially 10+ units, in any area. Call today and ask me how I can help you increase the value of your investment property!