MikeBolen.com

I guess I will say it again, “What a difference a month makes.” The Napa County July 2008 multifamily apartment sales market saw a steep decline in prices driven by the sale of the 15 unit complex on Lincoln. July was the weakest month on record for apartment sales in Napa County for 2008 when measured by price.

July sales:

July 2008 average unit sale price- $126,734

1761 Park Ave - $162,500 per unit

370 S. Minahen - $219,950 per unit

316 Coombs - $138,750 per unit (4 Units)

680 Lincoln Avenue - $106,666 per unit (15 Units)

So it is now possible to purchase a Napa Valley multifamily apartment real estate investment with 100% financing and still have positive cash flow after paying principal, interest, taxes and maintenance. Coupled with extremely strong rents and an ultra low vacancy rate it makes you wonder why we still don’t have more buyers for multifamily.

Here at the RE/MAX Napa Valley office RE/MAX Cornerstone I specialize in selling just multifamily apartment investments.  My colleague Armando Lincoln 707-299-9779 part of the team handles all real estate commercial and residential that is not multifamily. Over 65% of our sold real estate 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 for multifamily Mike@MikeBolen.com or 707-254-9999.  Contact Armando Lincoln 707-299-9779 for all other commercial and residential real estate opportunities, and Ken Dunbar 707-365-9070 for all commercial leasing needs.

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 real estate investment buyers than our team.