If you are looking for something besides a Duplex or a Single Family Home, maybe one of these will work for you.
I’m not a real big fan of 4 plexes in this area because most of them don’t have the “amenities” that Single Family homes or Duplexes offer to compete for quality tenants and optimum rents.
There are exceptions of course so I thought I’d point these out to you, because they’ve both just come on the market.
I’ve got estimated cash flow projections for both of them.
The Seven Unit Apartment building – 5925 Hilltop Drive, Carmichael, Ca. (6) 2 bedroom 1 bath units and (1) 3 bedroom “owner’s/manager’s unit - Click here for the estimated Cash Flow figures – While I don’t have interior pictures, I do have a brief exterior video of the premises so Click Here for that.
I hope you found the above informative. If you’d like to know more about getting into the small apartment market drop an email note my way or call me. My contact information is below.
In the Mean Time…?
Make it a Great Day…!
Ed Favinger, Broker CRS, GRI, SFR 916-203-1260 Favinger@rwnetwork.com
There are 3 separate homes on this .830 acre lot zoned R-5 (5 units per acre).
I had seen this property on the market last May prior to the listing being withdrawn but I never walked it until yesterday. When I drove by it last year it was a rainy day and I didn’t feel like going up this private drive with all the cars that I saw parked up there because at that time I think all the units were occupied.
So the bank takes it back, they put it on the market with an agent at $113,000. Mind you, the lot is worth more than that based upon recent comparable sales of vacant lots that I’m going to post here for you to see. None of those lots had the same Zoning as this one.
This goes to show you that there must be a pent up demand for great deals like this and I’m wondering how much it will finally sell for and what the plans are of the new buyer. I think this is a deal where you could keep the one occupied unit and work on building two newer units and possibly splitting them off.
I will stay on top of this one because I’m curious myself.
Anyway… Since they’ve already received 23 offers, there’s not much point now in putting one in, except I’d like to see where it winds up. As i pointed out earlier, I did go the property yesterday and did a video “walk through” of the property. I was able to get into all the units except for the one that is occupied.
I’d like to know what you think of this deal.
Make it a Great Day…
Ed Favinger, Broker CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
An Investor had a property become vacant after which an Air Conditioning unit was stolen.
This is something that is happening now more and more these days, not just here in the Sacramento area, but all over the country.
The question was asked by an investor on Trulia. I thought I’d share the answers the gentleman got because our company manages a property that had the exact same thing happen after it became vacant.
By the way… This can happen in areas that are not only, what I guess you could call “lower income” neighborhoods, but in “upscale” areas as well.
Anyway… Click here to see what I and other Real Estate professionals had to say about this ever growing problem.
Make it a Great Day…!
Ed Favinger, Broker CRS, GRI, SFR 916-203-1260 favinger@rwnetwork.com
They did some good things… But I think they could have done just a little more.
The property I am talking about is a Duplex that was “Bank Owned” and in need of some “fix up” and located at 2324 Camino Gardens, Carmichael, Ca.
I previewed this property for a prospective investor and we did in fact make an offer on it. We were out bid and now this property is back on the market. It closed escrow on December 15, 2011 with the reported Sale Price of $161,000.00.
Fast foward to today and the folks that own it now have placed it back on the market. I got the notice of a new listing in an MLS update and decided to take a look. I wasn’t really sure if this was one of several Dupelxes on this street that I had seen recently or not and you’ll notice I mention that I’m not sure…
Anyway, when I got back to the office that day I did find the “before” video so you’ll get to see both what they started out with and how it ended.
Here’s the “before” video
Here’s the “after” video – Let me know what you think
In the mean time…?
Make it a Great Day..
Ed Favinger, Broker CRS, GRI, SFR, favinger@rwnetwork.com 916-203-1260
