The end of the year has the usual hectic schedule with many closings. 78923 Avenue 42, BermudaDunes closed with income of $3000 per month for just two units. Thsi building was a beautiful property, recently renovated, 100% occupied. Demand was strong, we had many offers from qualified buyers. Beautiful property had a lower cap rate, but this bulding was a "10". The higher quality property always has a lower cap rate than one in a lesser area with deferred maintenance.
I'm receiving many many inquiries for multi-family buildings through out the area. Not enough inventory and multi-family enjoys a much higher return that can be achieved with most income generating investments.