Market Conditions in 94611>Question Details

Alison, Home Buyer in 94611

What's the market like these days for four plexes?

Asked by Alison, 94611 Fri Jul 25, 2008

What's the market like these days for four plexes?

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The market has a lot of choices right now, even in fourplexes. I recently work with a buyer/investor who was looking for a fourplex. I showed him several in Oakland in the 95601 area. This is a hot rental market, and demand for rentals is high. Typically, a fourplex has more space, larger rooms, larger patios and garden areas. I saw one that was the closest thing to a townhome or large flat. Each unit had an inside laundry room, large kitchen, partial hillside views. Altogether , these were very spacious units............far better than living in a cramped condo or townhome.

My buyer made a good decision in purchasing one of these fourplexes. He found a good loan that would give him positive cash flow. He plans to keep the place for many years. He has retained my services to manage the rental side of the units. As a property manager, I interview and screen tenants very thoroughly. The tenants for the fourplex, were selected very carefully, and I am pleased to say that all four units are occupied at above market rents.

Alison, let me know if you have any concerns about rental property, fourplexes, or any other real estate question. I look forward to hearing from you. Take care. Serena
0 votes Thank Flag Link Fri Nov 7, 2008
the market is excellent for well placed fourplexes in cities without rent control. In cities with rent control, you are best either owner occupying a larger unit and renting the others to students (who have a defined timeline to move) or buying smaller units so that single occupants tend to move in and when their lives change, they move out. In rent controlled cities, you want the opportunity to raise the rents to market rate as often as possible. Now, with many people unable to get loans to purchase, or having lost their homes to foreclosure, the demand for rentals is great, so buy in upscale areas, Rockridge, Montclair, Berkeley near UC within short distance to learning institutions. You will become an expert in rent control and tenant relations as you build your wealth. all the best, liz
0 votes Thank Flag Link Sat Jul 26, 2008
Hi Alison,

The market is better, but most are still not cash flowing. Have an accountant help you understand the costs and income associated with each property and only buy if the property cash flows, if only by a bit!

Best,

Nicole
0 votes Thank Flag Link Fri Jul 25, 2008
Alison-

I am seeing more fourplexes in Oakland, as well as other parts of the East Bay coming to market more often. Also REO multi-plex units. I feel these are good investments. As foreclosures rise, so do rents....due to the demand on the inventory. Some of these offer nice positive cash flow. Good luck! It's a great time to buy!
Web Reference: http://www.cindihagley.com
0 votes Thank Flag Link Fri Jul 25, 2008
Cindi Hagley…, Real Estate Pro in San Ramon, CA
MVP'08
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Rental markets for many across the country offer positive cash flow with the foreclosure market, home buyer not able to purchase due to lending
http://www.lynn911.com http://www.homes-for-sale-dallas.com
Web Reference: http://www.lynn911.com
0 votes Thank Flag Link Fri Jul 25, 2008
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