Let me know what you think..
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While I know that most of us are taking some time off for for Thanksgiving and getting ready for the Christmas holidays coming up, the sales of Residential Investment property in the Sacramento Region is still moving along.
I’ve been out and about looking at these properties to keep current with the market and came across a couple that I think are interesting.
Lets start with a couple of Duplexes first.
- ” target=”_blank”>5408-5410 Elsinore Way, Fair Oaks, Ca 95628 – a 3bd/2ba/2car and a 2bd/2ba/2car – Listed at $210,000
I think this Duplex is under priced even though it backs up to Madison. They do say there is some needed fix up, but it can’t be all bad if they are both currently occupied. I am of the opinion, that if they were fixed up, the rents would also go up to compensate. You don’t see these kinds of duplexes on the market all that often.
This is a nice neighborhood with single family homes across the street while on this side of the street is comprised of these larger duplexes that are perfect for the owner to live in one side. The Video I took didn’t do the area justice. This area consists of well manicured properties showing pride of ownership.
Click on the Address above for a video link. Click here to get a “pro-forma” cash flow analysis.
- ” target=”_blank”>6535 – 6537 Hazel Ave., Orangevale, Ca 95662 – 3 bedrooms 1 bath each side – Bank Owned/REO – listed at $179,900
Noisy street yea… You can’t move the street but inside though it’s quiet enough. One unit is in need of a “big time” fix up so now would be the time to update it. It does sit further away from the street and has more privacy with a good sized back yard.
You should be able to rent those units for $1,000 a month FIXED UP of course. Orangevale is a pretty good rental area and inspite of the busy street there’s some folks out there that like a country feeling and I think this one kind of has it.
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Now for a couple of Four-Plexes.
- ” target=”_blank”>7461 Tiara Way, Citrus Heights, Ca 95610 – All 2 bedroom 1.5 bath units, CH&A + Private patios – Listed at $289,000
Click on the address for a video. A Proforma Cash flow is here. I’m pretty familiar with this area. We manage a four plex up the street. I would call this a “bread and butter” type of property. This will cash flow, but you do have to manage it carefully.
- ” target=”_blank”>3121 Occidental Drive, Sacramento, Ca 95826 – All 2 bedroom 1 bath units, CH&A – Listed at $274,900
Rents vary from $720 to $729 per unit with a Gross Annual Income of $34,776 according to the information provided by the listing agent. For an estimate of what it would bring in just look at the cash flow estimates in the Tiara Way property above because the expenses aren’t going to vary much. This one has already had an offer accepted but had since fallen out as of the date of this article.
Now might be the time to make a deal on this one. Still shows active.
Finally… If you are an investor looking to jump into this market and have questions regarding any of the above properties or you are new to this area and want more information, please send a note or call me.
In the mean time…?
Make it a Great Day…!
Ed Favinger, Broker, CRS, GRI, SFR, CDPE 916-203-1260 favinger@rwnetwork.com
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- Sacramento’s uptick in housing aids underwater owners (SacBee.com)
