Tuesday, January 20, 2009
San Francisco Apartment Building Deals
The core rental markets in San Francisco have always been great areas in which to own. Due to the softness in certain other markets such as the single family rental home sales market, the buyer demand of small apartment buildings has lessened. Fewer sellers of rental houses are initiating 1031 exchanges and then looking for small apartment buildings to trade in to. If you have the ability to buy in this market, it very well may be the best time to get into the SF rental market. I have seen very nice buildings for prices not seen in a long time. Two such deals in Nob Hill and the Inner Richmond stand out with asking prices in the $260 per square foot range. Prices at $1.6M - $1.9M. And... rents are very healthy! And, and... interest rates are way low! Time to take advantage of the deals out there. Call me to run the numbers and see the opps.