January 2009 Napa Valley Multifamily Real Estate Sales Update

January 2009 Multifamily Sales

309 Hickory Napa 2 Units $315,000

1241 Division Napa 9 Units $769,000

January Unit Price Average $98,545

The last time unit prices were recorded below $100,000 per unit was 1999.  Unit price only tells half the story though. The real measure is rent to price ratio. Keep in mind unit prices are at 1999 levels although average rents are at 2009 levels, rents have never been higher is Napa then they are today.  

I am strongly urging all my clients to only purchase multifamily with a holding period of 3 years or longer and only purchase properties that are cash flow positive or in selected areas that will compliment your existing portfolio.  Opportunities to buy and flip investment properties in this market are difficult at best.

With that said opportunities to buy for rental income and long term appreciation have never been better than they are today. Both on and off market opportunities exist along with foreclosure and pre-foreclosure options.

Contact me via email or phone below anytime with multifamily questions or any questions related to real estate in our area. I have MLS auto email programs, for sale by owner searches and foreclosure reports and maps all available to you as a buyer client of mine just shoot me an email anytime.

Here at the RE/MAX Napa Valley office RE/MAX Cornerstone I Mike Bolen run the most productive RE/MAX team in Napa Valley. Our office is located in downtown Napa on the corner of 1^st and Main. If you are buying or selling real estate in Napa Valley, homes, multifamily, land or commercial my team is the local expert. Just email or call anytime.

Email: Mike@MikeBolen.com or call 707-254-9999