i am looking for multi family apartments

Asked by Nestor Dofredo, 1531-15 so. seattle, wa. Sat Jul 14, 2007

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13
Mario Pinedo,…, Agent, Cupertino, CA
Sat Jul 14, 2007
BEST ANSWER
Great strategy especially in the North West. Rents are going up all over the country and especially in areas that have strong job growth. I've always prefered buildings that are 1 story on large lots. You will have less tenant-tenant issues and they tend to stay longer. In the future, the lot size may command a good value from developers.
0 votes
Daniel Bretz…, Agent, Seattle, WA
Tue Aug 4, 2009
Hello,

You can check out the CBA web site. http://www.commercialmls.com/index.cfm?fuseaction=cba.listingDB

This is a good start to finding a site. What are your parameter for your seach? Are you wanting to trade a property that you alread own? Do you have a 35% down payment/ reserves? Then you can probably buy something larger than a 4 unit building. If you are looking for something with less downpayment consider a 1-4 unit building in which you can be an owner operator.
1 vote
Ben Kakimoto, Agent, Seattle, WA
Sun Jul 15, 2007
The CBA website that Ardell referenced below is a great resource and does provide a public search function. Here's their URL: http://www.commercialmls.com
1 vote
Deborah Madey, Agent, Brick, NJ
Sun Jul 15, 2007
Check loopnet.com and costar.com for property listings.
Good Luck
Deborah
Web Reference:  http://PeninsulaFirst.com
1 vote
Ardell Della…, Agent, Kirkland, WA
Sat Jul 14, 2007
Just a note. The MLS does not carry all multi family and commercial property. You need an agent who is also a member of CBA, the Commercial site. Not all agents are members of CBA and many commercial and mulity family properties are only listed on CBA by agents who never do residential real estate.

I do not believe there is a public site that makes these properties available on the internet. Only those that are listed in with the residential property will show in the public sites.

1-4 units are considered the same as residential for financing and most of these are in the mls, but sometimes there area few in CBA that cannot be found elsewhere. 5 units or more are not covered by RESPA and so if you are a first time investor purchase a building with 5 or more units, you will want to research the differences once you get over 5 units.

I do not generally do investors, except people I know. But just wanted to give you that heads up so you didn't miss seeing the bulk of the properties by looking in only the mls.
1 vote
jj, Home Owner, Lynnwood Subdivision, Lynn Haven, FL
Tue Mar 30, 2010
I have a great duplex listed in the desirable area of Green Lake. Tenants in upper unit are leased until July 2011 and the lower unit until November of 2010 with wishes to extend.

MLS # 40965

1125 N. 82nd Street
Seattle, WA 98103
0 votes
Dp2, , Virginia
Tue Aug 4, 2009
Besides working with a commercial broker/agent, you can also acquire them via a wholesaler.
0 votes
barbara mcma…, Agent, Everett, WA
Tue Jul 28, 2009
I have been an investor in the King/Snohomish county area for over 20 years and manage my own properties. My business partner is a mathmeticial and CCIM candidate. We can offer you a wide variety of resources to help you make the best purchase possible.
0 votes
Stephen H. S…, , Seattle, WA
Sun Jul 26, 2009
The best place to start is http://www.johntreed.com. Answers to any and all questions pertaining to multifamily investing are there, or in the books he offers. As far as RE investment advice, his books are by far the best value for the money. Straightforward, down-to-earth and no BS. And his RE gurus rating page is one-of-kind.

When you want to know what sort of multifamily investments are currently available in the Seattle area, call me. I have a 25-year track record of multifamily investing which includes a transactional volume of $900 million.
0 votes
Ryan James, , Brea, CA
Thu Jul 19, 2007
What area are you looking to invest in? Close to where you are, or in other areas where you can see a higher rate of return on your money?
I am the sales manager for a national real estate investment company and you can contact me about multi-family rented property that we have and even some new construction multi-family that generate positive cash flow.
Check out our website for more info
0 votes
Ardell Della…, Agent, Kirkland, WA
Sun Jul 15, 2007
Thanks Ben for that url. As you know, I prefer resdiential real estate. I agree with the many who have said "find a commercial broker" as I do feel strongly that over 4 units is a niche market where you should seek out a real estate professional who ONLY or at least MOSTLY does 5 or more units.
0 votes
Don Bush Team, , Columbus, OH
Sun Jul 15, 2007
CHECK WITH A COMMERCIAL/INVESTMENT REALTOR. See if they are CCIM Designated or members of CCIIR. They know CAP RATES and VALUES. DON BUSH, KELLER WILLIAMS CAPITAL PARTNERS REALTY, C&I GROUP. bush.214@osu.edu
0 votes
Greg Perry, Agent, Kirkland, WA
Sun Jul 15, 2007
If you want over 4 units, your best bet is to get a commercial real estate agent who specializes in multi-unit properties. He/she will have the access to inventory and the expertise to assist you.
Web Reference:  http://www.425realty.com
0 votes
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