USC area 4plex Fixer Apartment Building for Sale

4 one bedroom units near USC sale - needs extensive remodeling - but good value. Let me know if you want to see it. $689,000 * 2,224 sf * 6,510 lot size * built in 1920 * large usable lot for parking or expansion.

Bank Owned Commercial REO Retail & Office Center Orange County for Sale

Taking offers in February 2014 is a well occupied, very nicely constructed mixed office and retail center in southern Orange County, CA.  It is a bank owned asset with remarkably good condition and net income.  Approximately 67,000 square feet situated amongst 7 buildings on a 5 acre parcel of land. There are a variety of office and retail suites to accommodate various users. The asset is being offered un-priced. Market valuation should put this asset in the $10-15M range. Call for more details.

Great Opportunity in the Multi-Family Market

This distressed four-plex represents a real opportunity for an investor. The 3,200 square foot building was built in 1963 and sits on a nicely sized 7,104 square foot lot. Although the property is currently vacant, this highly desirable Cambrian neighborhood will ensure a quick occupancy. Currently on the market for $599,000 this property represents a real value, especially when you consider it last traded in 2006 for $828,000 which correlates to a 38% reduction in price. This investment opportunity won't last long contact the MPIRES group for more information or to schedule a tour.

4 Fourplexes - 3 Short Sales & 1 REO in Silicon Valley for Sale

We like these:

Santa Clara - 4plex - short sale - 3,177 square feet, built in 1962, pre-approved short sale at $665k, 12.3 GRM
Campbell - 4plex - short sale - 3,328 square feet, built in 1962, short sale with offers submitted but not ratified yet - deliverable at approximately $650k, 11.5 GRM
Santa Clara - 4plex - short sale - 3,177 square feet, built in 1962, pre-approved short sale at $630k, 12.7 GRM
Santa Clara - 4plex - Bank REO - 3,120 square feet, built in 1962, vacant property, needs contractor skills to rehab this property.

There are some very good opportunities to invest in foreclosed and short sale 4plexes in the valley right now.  All 4 of these properties sold at or above $900,000 a few years ago.  Most will cash flow with 25% down payment.  IRRs in the 10%+ range before tax.  Some with cap rates approaching 6%.  Let us run the numbers for you and show you how these properties can increase your net worth.

Bank Owned Commercial Condo for Sale San Mateo County

We are tracking a commercial condo coming for sale on the Peninsula in San Mateo County. This property will soon be bank owned.  It is over 3,000 square feet, mostly warehouse space in an industrial park in north San Mateo county.

This property would be ideal for an owner user who has an industrial use business to serve San Francisco and the Peninsula. Call us for details 415-269-6249.

Sunnyvale Bank Owned Duplex for Sale

Here is a turn-key, upgraded, bank-owned duplex in Sunnyvale, California. Both units are ready to be occupied which makes this property perfect for an investor or an individual looking to live in one unit and rent the other. The larger, three bedroom unit, has granite counter tops in the kitchen and bathroom. Both units have private backyards, inside laundry areas, hardwood floors and private garages. As you can see below this property is ready to be occupied and begin cash-flowing!! And with an asking price of $694,900 it is a deal worth looking at. Call us today to set a showing of this great bank owned Sunnyvale duplex.

New Bank Owned Deals in San Leandro and Hayward

Coming to market soon:

Bank owned, 4,100 square foot new retail building in shell condition on major thoroughfare in San Leandro. Perfect owner user or investor building with multiple doors for various tenant spaces. Good parking with two street entrances. $649,000.

Bank owned, 10 acre parcel in the Hayward hills for 18 home subdivision new home development. Outstanding area amidst other high end home developments. Views from some of the lot locations. Call me for an update on the tentative map approval process which is underway. Price depending on an as-is purchase or after map approval.

Duplex Fourplex Trustee Sales San Jose & Silicon Valley

We are tracking 87 imminent Trustee Sales for duplexes and fourplexes in Santa Clara County. Of these, NONE have Trustee Sales prices that make them attractive for investors. 85 of the 87 are 1st position loans, the other two are 2nds behind large 1sts. Based on our value assessments, none of the 87 are worth considering.
Of the 87, many will have their trustee sales postponed for a variety of reasons (processing a short sale, bankruptcy, loan modification, etc).
Those that do go for auction, will revert back to the bank - unless there are some foolish investors at the auction paying over market rate.
Then we will see these as bank owned properties for sale within the next month or two.
For great guidance in investment properties in San Jose and Silicon Valley, call us today 415-269-6249.

San Jose fourplex investments - short sales, REOs or regular sales?

We just toured 7 fourplexes in west San Jose and Campbell - short sales, bank owned and regular sales. The highlights?

1. Best price - $799,000 for 3,984 square feet on a 10,000 square foot lot. Awesome old growth tree landscaping in lieu of tacky patio area.
2. Best location - $770,000 for 2,986 square feet in west San Jose. Corner lot, private access to parking area and a garage for the owner's unit.
3. Worst price - the short sale in Campbell that had the best attributes. Why ask a lofty, over- market price on a short sale that needs to move?
4. Worst comparison - the regular sale identical building $68,000 under the short sale across the street.
5. Best after tour meal - La Pizzeria in downtown Campbell - 4 solid stars on Yelp.

Call us for great deals in the duplex - fourplex market. In San Jose, where there has been sub-prime, low down or no down lending, there is opportunity of short sales and bank owned property.

Bay Area Investment Real Estate - Mario Pinedo, CCIM Investment Update O...

Investment Property update for Silicon Valley. Single family home sales and commercial investment opportunities from www.MPIRES.com and Intero Real Estate.

Foreclosures Halted - Bank of America and Wells Fargo in Review

The current issue of reviewing the legality of banks foreclosing on borrowers is going to be a very long mess to unravel. Bank of America halted their foreclosure activity until they can review their procedures. Wells Fargo Bank is also reviewing all its pending foreclosure properties and those that it recently acquired. Does this mean that Bank of America and Wells Fargo are the only banks with liabilities to review? Heck no! Every bank is scrambling on how to best manage this mega mess. The Title Companies are sweating this too. And the real estate attorneys are salivating.
This will have a major impact on the market because home buyers and investors will not have certainty on a large segment of the housing inventory. This segment - bank owned homes in California - accounted for over 43% of sales in the last year!
A winner in this mess will be new home developers and owners of homes that have not been foreclosed on. The short sellers will also benefit because the banks will give them more time since foreclosure is essentially off the table for now. Short sellers may be cautious too because they will be dealing with banks that have more on their mind than the short selling of one person's particular home.
And this too shall pass, but when, that is to be seen...
What do you think this will do?

Just Listed! Bank Owned 4plex in Santa Clara $599,900

Very good deal from Bank of America just hit the market. All 2 bedroom, 1 bath units, 2,888 square feet building with 4 one-car garages. Offered at $599,900. Building is vacant now. Units were all most recently rented for $1,250 per month. It is common for banks that foreclose on rental properties to evict the tenants to eliminate the liability of management. Solid rental neighborhood in Santa Clara and the garages are a great amenity. This deal will go fast.

Bank Owned Commercial Office Condo For Sale in Mountain View

JUST LISTED:

3,600+ square foot commercial office condo for sale in Mountain View. Full office build out. 5 year old property. Property consists of two commercial condos (with separate parcel numbers)built out as one contiguous space. These units can be demised and sold or rented by themselves. Gorgeous commercial business park community.

Configuration as follows: 6 private perimeter offices with glass side panels and top windows, twelve 8x8 cubes, two ADA bathrooms, a server room, lobby entrance, large meeting/conference space and spacious kitchen.

Last comparable sales in the complex are over $220 per foot for simple shell condition space. This well designed and built out space is offered at $699,000 or $192 per foot.

If you run a business in the lower Peninsula or Silicon Valley - this will be a great deal for you. Commercial distress in this location is rare. The high quality of the property adds even more value. Call us for confidential details on this asset.

We expect to have this on the multiple listing services by August 28th.

The MPIRES Group works with banks, servicers and investors to bring commercial/investment opportunities to the market. If you are looking to invest in distressed commercial investment property, let MPIRES Group show you the way. www.mpires.com

Commercial REO & Non-Performing Note Sales

The commercial real estate bank owned opportunities will not materialize as did the residential REO market of the last couple years. Most commercial banks have taken a completely different strategy to reducing their bad debt. Few commercial banks are even starting the foreclosure process because they do not want the bad commercial assets on their books. This necessitates increasing cash reserves to offset the bad debt. In lieu of this, the banks would rather sell their non-performing notes to investors, who then can foreclose on the properties without incurring FDIC triggers.

The commercial distressed property opportunities will be even more attractive to investors than the residential deals were. The challenge is how to participate in these opportunities.

My partner, Julie Duong and I have the solution. We are pairing investors with banks to facilitate these transactions. Call us for a consultation so that we can deliver to you the best deals available.

Santana Row Bank Owned Condo for Sale

Just listed yesterday a Wells Fargo owned condo loft that faces Santana Row. Sitting on the 3rd floor of the DeForest building is a A-1 model, 1099 square feet, no large red "X" structural support in the living room, blond kitchen cabinets with granite counter,washer, dryer, fridge all in the unit. And get this - FOUR parking spaces! Somebody went overboard with parking purchases! Unit is directly over Cocolat and Straits. Offered at $424,900. This unit will sell very, very fast.

Blossom Valley San Jose Large Bank Owned Duplex for Sale

$539,900 for a duplex on a great street in Blossom Valley near Westfield Oakridge Mall. Over 2,100 square feet, 3 bedroom & 2 bath unit and 2 bedroom and 1 bath unit. Large lot, newer roof, open floorplans. The unit would do well with upgrades to the dated kitchen and baths. Perfect investor unit or owner occupant.

Bank owned commercial office condos

If you are looking to own office space for business use, this is a very good time to be shopping. As was the perfect storm for residential condos that were built in the last 5 years, the same is true of the commercial office condos that were built at the same time. A lot of new product came on line in the last few years - essentially commercial developers created a new type of office building, parceled out to sell as condos. This was a great concept to provide new office space in small sizes so that businesses could buy their own space. The problem was timing. Some of these developments hit the market at $400-$500 per foot. Now developments in Santa Clara county are selling for the $100-$200 per foot range. We are tracking very good deals in Fremont, San Jose, Sunnyvale and Mountain View to name a few.

Update on in-house deals

Office Deals: Berryessa large home, short sale preapproved at $600K, goes on market this Friday.
Townhouse style condo Rose Garden, short sale, $325,000, newer, great location.
Local shopping center - $4.2M, 9.0% cap rate, bank directed short sale - no on market.
2 gas stations - San Jose & Gilroy - both distressed fixers - great traffic locations

San Jose Bank Owned Homes

I just did a search of future San Jose Bank Owned Homes based on a 5 mile radius scan of Notice of Trustee Sales. The parameters were, 5 mile radius of my office at Intero Santana Row and NTS within a 60 day period. The return was 775 homes scheduled for trustee sale in the next two months. Of course, many of these will be postponed due to short sale offers, bankruptcy filings and mutual agreements with lender & borrower to work through loan modification, etc. This is a very large number given the comparison to the approx 3,500 homes on the market in Santa Clara County. An additional 20% REO or short sale inventory will have a significant impact on pricing. Banks are being cautious not to flood the market. Although, some banks may decide to sell their inventory first at perhaps higher prices than waiting it out.

Bank Owned Commercial Condo at the gates of Silver Creek Valley Country Club