These Four-Plexes For Sale in Folsom Are a Rare Occurrence
It not very often that we get a FourPlex for sale on the market here in Folsom but now there are two of them, 205 and 211 Talisman Drive, Folsom.
While they have a great location in a town with all the amenities you’d want close by in an Investment, there are some down sides to these properties.
Both of these FourPlexes have some deferred maintenance of between $12,000 – $15,000 as disclosed by the Pest Inspections provided by the listing broker.
Deferred maintenance is not an uncommon thing, but the other issue I discovered an investor is going to have to take into account is the rents can not be raised on most of these units until very late into 2020.
Click here for the rent roll and you’ll see what I’m talking about. Only one unit that is currently vacant would be available to raise the rent to market.
Click here for a Rental Market Survey. You can see rents are at a premium here in Folsom and it’s a sad thing the rental rates were locked in with leases expiring in 2020.
Click here for a Pro-forma Cash Flow Analysis for both Fourplexes
As you can see the Cash Flow is a bit skinny on these FourPlexes. This is not uncommon in today’s market because most of the time investors area able to increase the rents after close of escrow. However in this situation, you’ll not be able to raise the rent for a long time.
Anyone who gets into escrow on these two FourPlexes will need to review the Seller’s documentation and Maintenance history carefully. And again they will have to take into account rents will be locked in for a long time.
But hey… These are located in Folsom which is one of neatest towns in California. There’s not much on the market now so if you are hot to buy a Folsom FourPlex…. this is what you can get now.
If you want more information about Residential Investment Properties like Duplexes and Four Plexes, call or text me at 916-203-1260 or drop a note my way via email at: email@example.com.
We also do Property Management.
In the mean time…?
Make it a Great Day…!
Ed Favinger, Broker