MikeBolen.com

1711 Lincoln Avenue has been placed back on the market. Property was in contract as I pointed out in my previous article. 1711 Lincoln was the 10 family property in Napa offered at 1,099,000. Interestingly the property also showed up on the courthouse notice of default list pending foreclosure. This almost certainly will put downward pressure on multifamily apartment values should this property be sold either in foreclosure or sold below the current asking price.

Currently their are five multifamily apartment buildings in various stages of foreclosure in Napa. Prices are decling, rents are going up, an the drive by media says the worst is yet to come. Actually there has never been higher rents in Napa county for apartments then right now. Now is the time to buy multifamily apartments in Napa county.

If you would like to learn about Napa Valley multifamily apartments offered for sale through foreclosure, pre-foreclosure currently listed or off market properties consult with the most knowledgable team in Napa. A sample of current inventory:

• 9 Units $900,000-Napa   

• 6 Units 1/2 acre $1,800,000 - St Helena

• 7 Units zoned OFC/RTL/MF $1,250,000 - Napa

• 38 Units 4,940,000 - Napa

• 2 Units $315,000 - Napa

• 2 Units $299,000 - Napa (New Construction)

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. To gain access to the off market or foreclosure 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.