MikeBolen.com

Quick update the 15 unit apartment building located at 680 Lincoln Avenue in Napa just sold for $1,600,000 in an all cash deal both sides of the transaction were brokered by Tom Lyons at Income Property Services. The sale of this 15 unit building will cause further downward pressure on the already declining North Bay apartment market. The units were mostly 2 bedroom units including one large 3 bedroom unit. At $106,666 per unit this is a tough comp for the market to swallow. Expect further downward price modifications of property currently marketed for sale. Look for my July sales update in a few days.

Here at the RE/MAX Napa Valley office RE/MAX Cornerstone our team specializes 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 inventory or to learn how we work with buyers contact Mike Bolen  Mike@MikeBolen.com or 707-254-9999.