MikeBolen.com

The Napa County May 2008 multifamily apartment sales market was dismal. May was the weakest month on record for apartment sales in Napa county for 2008. We witnessed a paltry 2 sales one in downtown Napa of a four family on Brown street and the other deep in the vines of Calistoga with a duplex sale.  

May 2008 average unit sale price- $151,250

1206 Hazel - $153,750 per unit

344 Brown- $148,750 per unit

Based on increased buyer calls, more showings, and some interest from my longtime investor clients my outlook for the June 2008 Multifamily apartment market is much better. I think we will see triple the sales activity of May although expect prices to erode further. We are still waiting for the closing of 1711 Lincoln this is the large 10 family offered at 1,099,000 that went into contract May 8^th, 2008.

Here at the RE/MAX Napa Valley office RE/MAX Cornerstone my team and I specialize in off market pocket listings. Over 65% of our sold deals are never advertised. Most are offered to sale only to buyers represented by our team.

Example:

9 Units downtown Napa $900,000

2 Units South Napa $290,000

2 Units Circle Oaks $245,000

To gain access to the off market inventory or to learn how we work with buyers contact Mike Bolen at Mike@MikeBolen.com or 707-254-9999. We also work with over 20 investment buyers in an exclusive buyer agency agreement if you are looking to sell no one has more commercial investment buyers than my team.