Some Sacramento Cash Flow Opportunities I Like..!

I’ve got profiles of a Duplex “Flip”, A Short Sale Duplex & a 6 Unit Complex.

 

 

Let’s talk about the Short Sale Duplex 1st.

6813-15 Greenback Lane, Citrus Heights – Listed at $129,500 a few days ago.  They are accepting offers tomorrow, August 20th around 6PM.    This will get multiple offers..!

Click Here for a Pro-forma Cash Flow Analysis     ” target=”_blank”>Click Here For the Exterior Video

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Here’s a “Flip” Duplex.

6604 Summer Rain Way, Citrus Heights, Ca – Listed at $214,888.   2 bedrooms 1 bath ea side.    Rents should be at $1,000 per unit on this street because our company manages a unit a couple of doors away.  One unit is vacant and the other is reported to be renting at $750.00  per month.

” target=”_blank”>Click Here for the Video of the one vacant unit

Click here for a video of the Duplex we manage just a couple doors away for comparison

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You have to take a look at this 6 unit deal located at 1911 El Monte, Sacramento, Ca.    It consists of 6 separate single family homes on one lot.  Listed at $299,000 I think this is probably one of the better deals out there now.   The problem with this one is that it must be a cash deal because its difficult to get multi-unit financing with loans below $500,000.   They’ve had a couple of deals fall out because the Buyers could not get financing.

Click Here for the Exterior Video and I’ll think you’ll agree with me that this is a “unique” property.

Click here for a list of expenses I got from the listing agent.   I don’t know if these are annual figures or..?  The reason I say that is because they look high for some reason.  You will notice there is a “gas” utility bill included which would be unusual in a situation like this.   This is something you’d have to clarify of course in your due diligence review of their income and expenses.

In the mean time…
Make it a Great Day..!
Ed Favinger, Broker CRS, GRI, SFR, CDPE    
916-203-1260      favinger@rwnetwork.com

 

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Two of My Favorite Duplex Areas – Citrus Heights & Carmichael

An Up to Date Look at Some Recent Sales Activity – Some Stats and More

The reason I like these particular areas among others is because they have been easy to rent for the most part.   Citrus Heights has become an incorporated city since I moved here years ago bringing more local control of their resources.    You can see the results of their stewardship of tax dollars along Greenback  and especially along the Sunrise Blvd corridor.    They’ve done a nice job promoting the Sunrise Market Place which has to compete with other shopping areas in Sacramento, Folsom and Roseville.

There is a nice mix of Duplex investment properties in this area so if you are looking to buy your 1st investment property, you wouldn’t go wrong here.

Carmichael is an unincorporated area that has a diverse mix of housing.   You can find some pretty expensive homes here along with a mix of Apartments, Duplexes and the like.

Over the years this area has been popular with investors because of the mix of these types of properties are sprinkled in with single family home type of neighborhoods.

Take a look at the map of the area and you’ll see it’s got a unique location.   Not a lot of work centers here… it’s primarily a residential area.

Here’s the comparable sales report for both Citrus Heights and Carmichael.  I’d like to know what you think.    CLICK HERE to get a PDF file with the sales data…

Now… in the Mean Time…?

Make it a Great Day..!

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

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A Bank Owned & a Short Sale Duplex – Cash Flow for the Investor..!

Both are in “improving areas”, one in Citrus Heights and one in Rancho Corodva.

The Citrus Heights Bank Owned Duplex

Ok…  Let’s start with the Bank Owned Duplex in Citrus Heights that is located at 7700 – 7702 Sayonara Drive. Each side is a 2 bedroom 1 bath unit with Fireplaces, Central Heat & Air,  Garages and Washer Dryer Hookups.   One side has had a Kitchen update.

Click Here for a PDF File that will have the Pro-Forma Cash Flow Figures.

Click here for a Walk Through Video of 7700 Sayonara Drive,  the Right  Side

Click here for a Walk Through Video of 7702  Sayonara Drive,  the Left Side

I’m sure there will be multiple offers on this one because it’s not going to take much to get it “rent ready”.

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The Rancho Cordova Short Sale Duplex

The “Short Sale” Duplex is located at 2597 & 2599 Capitales, Rancho Cordova.   Each side on this one is a 3 bedroom 2 bath that includes Central Heat & Air, Fireplaces, Washer Dryer Hook ups, Garages.   One of the units has Kitchen and Bath updates and the other side has a tenant that has lived there for 22 years.

If you commute to Sacramento, the Light Rail Station is about a half mile away.

Click Here for a Flyer with some pictures of the left side that is under going some repair work.

I’ve been working sales of Duplexes for a long time and this street has one big problem.   While these duplexes are for the most part all 3 bedrooms on each side they lack sufficient parking because almost everyone has at least 2 cars.  As you will see in the flyer one car is on the grass.   The solution is to “increase the size” of the Driveway.   Take a look at the video I made of the street and see if you don’t agree that you can make lemonade out of a lemon.

The cash flow figures are going to be pretty much the same as the Citrus Heights duplex that I profiled above.   On this Duplex though,  we do have two loans that will probably take a little longer to complete the short sale.

I just put this Duplex on the MLS last week and we have two offers on it, so we’ll see how it goes from here.

Finally….

If you are a first time visitor to this Blog Site and are looking for an investment property don’t forget to check out the Free List Page and then send me a note if you’d like to have me analyze it’s potential cash flow.   If you send me an email request,  I’d be happy to send to you an Excel file that you can use over and over to calculate potential cash flow for property that you are considering.

Make it a Great Day…!

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

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