At this week's Bay Area Apartment Broker's Forum meeting in San Jose, guest speaker Tom Scott of Cambridge Management Company brought some interesting statistics from the Santa Clara County Recorder's office.
2-4 Unit Properties: 15,144 total properties - 787 sold in 2013 - 5.2% of the inventory sold - 19 year average hold
5+ Unit Properties: 5,719 total properties - 554 sold in 2013 - 9.0% of the inventory sold - 11 year average hold
There is almost a double hold period for duplexes and fourplexes compared to larger apartment buildings.This could mean that the ease of ownership on a smaller building is greater and therefore those owners hold the properties longer. Or, someone with a 5+ unit property makes more money faster and therefore sells in a faster time frame. Those are my two suggested reasons.
What do you think?
Friday, July 11, 2014
Owner Occupied Duplexes for Sale in Silicon Valley
Today there are 25 duplexes for sale in Santa Clara County that are listed under the maximum loan amount for FHA financing. What does this mean?
For 3.5% down payment, you can buy a duplex in Silicon Valley, live in one unit and rent out the other unit. This provides you with maximum financing ability, a tenant who will pay you rent to offset the mortgage and tax depreciation on the rental unit to offset taxes. This is a great way to start your investment portfolio. Call me for details - Mario Pinedo, CCIM 415-269-6249
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