Multifamily Investment Sales Update | September 2008

By sonoran • October 16th, 2008

 24 multifamily properties sold in September in Greater Phoenix.  This is data from the ARMLS.  It does not include large properties: it’s mostly 2-10 unit properties.   The graph dispalys 20 becasue there were a few last minute closes after the graph was generated.  The previous numbers are correct. 

Of the 24 sales, 5 were normal:  that means sales directly with the owner.  2 sales were short sales and the rest 17 were lender owned or REO sales.  Prices started at $20,000 per unit and went up to $73,750 per unit and that was for a pretty attractive property thouh in not the best area.

multifamily sales in Phoenix

There is no doubt that we are in the new "cash flow economy" where investors don’t count on appreciation for any investment gains, but cash flow and it’s the cash flow that is truly builds financial freedom.

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