Residential Multifamily Sales In Greater Phoenix August 2008

By sonoran • September 11th, 2008

Sales of residential multifamily properties, 2-4 units with residential financing, have been on the rise since the beginning of the year along with the sales of single family homes.  In August 31 properties sold. 

There are currently 710, 2-4 unit properties active in Greater Phoenix.  38 are pending.   Just as with all multifamily properties very few are actually worth a look.

 

Phoenix multifamily

Just 4plexes.

There are 377 fourplexes active in the Greater Phoenix market.  That is a lot of properites but most of them are truly either tear downs or in need of a lot of capital improvments and the prices don’t reflect it.  It seems that most sellers with good properties don’t have a need to sell so they are holding on to them.  A limited number of very good fourplexes are for sale on the market: that number is very small compared to the whole.

Currently 19 are pending.  From the properites that did sell the prices ranged from $103,000 to $307,500 for fourplexes.

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