Sacramento Cash Flow Opportunities – 6 units For Sale

Two Tri-Plexes side by side

Have you been looking for Real Estate Investment opportunities that actually pencils out…?  We’ve got 2 “bread and butter” tri-plexes that give a pretty decent cash flow that includes Property Management.   The owner is retiring and now wants these sold.

The Ziggurat Building in the city of West Sacr...
The Ziggurat Building in the city of West Sacramento,

If you are in the market looking for a Residential Investment in a growing economy of Sacramento, stop here because these might be what you’re looking for.

They were listed by Sharon Kulbacki from our office last week and she’s provided some information here.

You can contact her at 916-705-5715.

Click Here for Pictures & Information regarding 3629 Altos, Sacramento 

Click Here for Pictures & Information regarding 3625 Altos, Sacramento

We have the proforma cash flow figures here below.

Click here for 3629 Altos Cash Flow figures 

Click here for 2625 Altos Cash flow figures.

Take a swing by these units but do not disturb the tenants.

In the mean time…?

Make it a Great Day…

Ed Favinger, Broker, CRS, GRI, SFR, CDPE   916-203-1260

 

Quick Market Update – Sacramento Duplexes for sale

Multiple Offers Still Going On…

I had the opportunity of working with a couple of investors that made offers on a couple of Duplexes for sale in our region.   One of the Duplexes for sale was at 4932&4934 Saddlerock, Sacramento and the other Duplex for sale was located at 2641 Capitales, Rancho Cordova.

In both instances the Sellers received “multiple offers”.   The buyer on the Saddlerock Duplex actually made an offer well  over list price but didn’t get in 1st position.  However, they were later able to get into escrow with this property after the Buyer with the top offer withdrew from the deal.

Sometimes the 1st offer in doesn’t complete the deal.

The other Duplex for sale on Capitales had 5 offers and we wound up on top with that one.  Interestingly in that deal the Listing agent told me that out of the 5 offers, 3 of them were prospective “owner occupied” purchases.   I think you’ll see as prices of single family homes go up, folks will turn to this option, live in one side and rent the other.

In both cases we  were required to have a Lender Pre-approval letter and Proof of Funds.   Proof funds is important because if you are going to compete with “cash offers”, you have to show you can pay the difference if the appraisal doesn’t come in at the Sale Price of your offer.

So if you’re thinking of Selling, Buying/Investing get in while the rates are still low and don’t be disappointed if you don’t get the first deal you make an offer on.

In the mean time…?

Make it a Great Day..!

Ed Favinger, Broker CRS, GRI, SFR, CDPE  916-203-1260   favinger@rwnetwork.com

Sacramento Duplexes for Sale Prices Going Up & So Are the Rents

A Fair Oaks Duplex Fixed Up Gets Multiple Offers

While I specialize and look for Sacramento Duplexes for sale all the time, I  have taken notice  now for a while  there is a thirst in this market for Sacramento Area Duplexes in great areas like Fair Oaks that are fixed up and renovated.

Not only do you get top dollar when you sell, you can place a new tenant in the units at much higher than their past history.

Case in point is the Duplex you see below.    I got a “google street view” of the property taken last year that is embedded here so  you’ll be able to zoom in and check out the neighborhood if you want to.

Looks like the roof might have had some issues and they fenced it off for security purposes while they made their repairs.

It consists of a 3 bedroom/2 bath/2 car garage on one side and a 2 bedroom/2 bathroom/1 car garage on the other.  It Listed at $399,000.

There are only a couple of pictures of the property in the MLS which is a shame,  but you can see they did fix up a kitchen pretty nicely.

If you click here you’ll get an MLS flyer that shows some of the information about it.

This property came on the market about 3 days ago, had 5 offers and is now a Pending Sale.

If you are thinking of Buying or Selling a Sacramento Duplex, Four-Plex, a small Apartment complex or even a Single Family Rental, please call or “text” me today at 916-203-1260 or drop me an email at: favinger@rwnetwork.com

n the Mean Time…?

Make it a Great Day….!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE

 

 

Rents Are Up in The Sacramento Area – Old News To Us in Real Estate Sales & Management.

When The News Hits the Sacramento Bee – You Know it’s “Old News” When It Comes to Real Estate..!

If you’ve followed my blog site for any length of time I’ve pointed this out several times.   The reason you ask…?  They stopped building Apartments and just about anything else here because of the recession.  They are only now beginning to ramp up, but mostly single family homes.

And since they are not building more apartments for middle class folks just starting out, rents have gone up.    What apartments they are building or planning on building are “subsidized” housing or the more “high end” apartment complexes with lots of amenities according to a recent article in the Sacramento Business Journal.

I’ve said to many people seeking to find a home or an apartment to rent in Folsom, Orangevale, Roseville or any other area in the Sacramento Region that,  “you probably need to know somebody inside to get a decent rental anymore”.    I wrote about it here.

Many of the investors I have placed into Duplexes, Four-plexes and Small Apartment complexes know they can get “higher rents”, so most of them have improved their properties to take advantage of the upswing in rents that can be derived.   That also was written about in today’s Sacramento Bee article.

So CLICK HERE for that latest story from The Bee.   Let me know what you think.

In the Mean Time…?

Make it a Great Day…!

Ed Favinger, Broker, CRS, GRI, SFR, CDPE       favinger@rwnetwork.com   916-203-1260

 

Is Rent Control Coming To the Sacramento Area…?

It’s Not Just Rent Control – They Add Costs Onto Owning a Rental

I have an article here that I recently received from the RHA (Regional Housing Association of Sacramento Valley) with a list of ballot measures in several San Francisco Bay Area cities regarding “rent control”.

It’s not just that they want to limit the amount of rent you can charge, they also want to make it more difficult to get rid of bad tenants by instituting “just cause eviction” laws as well.Image result for the rent is too damn high

Just Cause eviction rules eliminates the “termination of tenancy” that we can currently give a Tenant in our area without stating a reason.  Just Cause rules would require a hearing at another government run board or authority that would hear your case and probably take the side of the Tenant unless you had massive amount of documentation to support your position.

Some of these measures would limit causes of action to evict a tenant to 8 or 9 specific reasons.

For many investors, this is why they hire a professional property management to make sure they are “in compliance” because of all the rules changes and regulations that vary from locality to locality.

Take a look at this article from RHA and think it over.   Land use decisions do involve you and when you can’t build housing because of all the NIMBY’ism, this can be the result.

I think you’ll be appalled at what they are proposing.   It is scary in my opinion.

RENT CONTOL ON THE BALLOT IN FIVE BAY AREA CITIES

Let me know what you think.

In the mean time…?

Make it a Great Day…!

Ed Favinger, Broker CRS, GRI, SFR, CDPE     favinger@rwnetwork.com 916-203-1260