This is a follow up to my blog post of a couple of days ago.
The most recent news and opinions regarding Multi-Family Apartment units has been that “cap rates” have been going down. I also believe that those same metrics work for smaller properties. As I’ve pointed out several times before, rents have been and are going up if you’ve got a property in good condition with amenities.
Just about every Duplex or Four-Plex I’ve been involved in has had multiple offers which is an indication of a pent up Investor demand. Our Property Management unit reports an overall vacancy rate of our portfolio is under 5%.
If that’s not the definition of a Seller’s market and a Landlord’s market then let me know when there is one.
Well lo and behold, Ben van der Meer a real estate staff writer for the Sacramento Business Journal posted the following article earlier today.
More evidence that there’s some momentum in the Residential Investment market again.
Make it a great day…!
Ed Favinger, Broker, CRS, GRI, SFR, CDPE