I am considering selling a 4 unit building in Oakland, CA (94602). All 2BD/1BA units. Good condition/fully rented. What is current market like?

Asked by sfdragonboy, San Francisco, CA Sun Apr 8, 2012

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Brian Cheek, Agent, Oakland, CA
Mon Apr 16, 2012
A shortage of inventory in the 1-4 unit category (and really all categories) in Oakland and much of the Bay Area makes it a favorable time to sell a four unit building. There are many investors waiting to buy income properties, and they have been frustrated with a lack of inventory. The result is often competition - multiple bids on well-priced properties that hit the market.

Whether or not to sell right now depends on what your needs are - even though the market is starving for properties, investors will not buy if they feel they are overpaying. It is really important to price it intelligently so it draws interest and offers.
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Ronald Boone, Agent, Oakland, CA
Sat Apr 14, 2012
The current market is great for income property in the area the subject property is located. However, seller motivation will be a material influence on the net outcome. I practice in that area and would like to discuss this matter with you at your earliest opportunity.
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Terri Vellios, Agent, Campbell, CA
Mon Apr 9, 2012
Our inventory in Santa Clara County is way low. Investors are plentiful. I expect that north bay is experiencing a similar real estate market. It really depends on the location and price.
Web Reference:  http://www.TerriVellios.com
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Meena Gujral, Agent, Pleasanton, CA
Mon Apr 9, 2012
The market is very good for multiple units in Oakland. There are many investors looking for multiple units in the Bay area.

I have 2 investors looking in Oakland for multiple units and I just sold one building that had 4 units to a third investor.

Please let me know how much you are asking and what the rents are and I may be able to get you an offer before it goes on the market.

Meena Gujral
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Antoine Pirs…, Agent, Oakland, CA
Mon Apr 9, 2012
Hello Dragonboy:
There are plenty of buyers out there ( working with 5 of them right now), who are ready to buy investment real estate. You have 2 buyer profiles. One is the owner occupant, and the other is the investor. You will likely get more if an owner occupant buys the property. The price you get will depend a lot on the rent received and the expense ratio's for the building. Quality of the tenant and the quality of the building influence both. What you should not forget !!: what is your exit strategy? What will you do with the proceeds? What will your tax consequences be? There is much more to selling a property than putting a price on the listing. Let me know if you want to dig deeper.
Good luck.
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Bill & Elijah…, Agent, Oakland, CA
Mon Apr 9, 2012
A lot depends on location and condition of your property. But there are a lot of buyers and not much inventory. Next step is to consult with a Realtor.
Best of luck
Web Reference:  http://billfletcherhomes.com
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Pacita Dimac…, Agent, Oakland, CA
Sun Apr 8, 2012
If it looks good and is priced well, it will move.

Nice to note that each unit has 2 bedrooms so that makes it even more attractive.

Have a realtor prepare a CMA (comparable market analysis) for you so that you can see information on recent sales, pending and active listings similar to your property. That should give you a good idea of what your property is worth in today's market and under the current conditions.
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Gina Odom, Agent, Santa Cruz, CA
Sun Apr 8, 2012
If it's priced right and in good condition, there is no reason why you shouldn't get multiple offers.
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Angela Mitch…, Agent, Oakland, CA
Sun Apr 8, 2012
I was just talking to some agents the other day that had 15 offers on a 4-plex in that area! And all of them cash!
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Kenneth Lee, Agent, Piedmont, CA
Sun Apr 8, 2012
It's a good market for multi-family properties in your zip code. The investors that I've worked with recently are frustrated by a lack of good inventory. When a well-maintained, well-priced property in a desirable rental area comes on the market it's likely to receive multiple offers. Pricing is key though. Although there are many investors looking to buy most are still wary about over-paying. In general I'd say there is no shortage of potential buyers in the market. The shortage is in the available inventory.
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