Thinking of Buying a Four-Plex in this Area…? Better think twice is all I’m saying…!

Why…?  Well Read On and you’ll see why…

 

I was asked by a client to drive by and check out two  Four-Plexes he saw on MLS, one at 7816 Sayonara drive pictured here and another one at 7857 Sayonara Drive.

They are currently listed at $269,000 and$279,000 respectively and in my opinion show an income that I personally think might give a great “on paper” cash flow but that does not tell the whole story.

The City of Citrus Heights has done some great work in cleaning up the street the last few years.  Their solution was to just tear down about half of the 4-plexes on the street.  They have built a small community center and are working on creating a park there with the “new open space”.

Anyway… I was out there yesterday and took a short exterior video of these two.   I was “confronted” near the end of the video shoot.     target=”_blank”>Here’s the video  You’ll hear voice near the end asking what I’m doing.

If you want more information about this street, all you have to do is “google” Sayonara Drive, Citrus Heights and you’ll get a lot of information.   I’ll give you a link here to start with that I got from the City of Citrus Heights.

As you might imagine, I’m not a big fan of 4 plexes in this area and if you are thinking of buying one, just be prepared is all I can say.   I will say though at least the City of Citrus Heights is being “pro-active” in cleaning up what has been a troubled area for a very long 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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