As you are already aware Multifamily Monday is suppose to recap the bank owned Riverside County apartments for sale. Please understand that even though I have been too busy this week up until now to write this posting, the information is based off of the same dates (June 9, 2009 – June 15, 2009).

Simple breakdown by city:

Hemet 1 duplex for $94,050.

Lake Elsinore a duplex for $149,900.

San Jacinto introduced 1 fourplex for $87,863.

Of course someone that was inexperienced with multi units would say the fourplex in San Jacinto is the best deal based on all 3 primary factors, cost per door, Gross Rent Multiplier (GRM) and Capitalization Rate (Cap Rate) however those units need a lot of work and therefore have not been factored in for the pick of the week.

That leaves us between Lake Elsinore and Hemet both of which are decent deals. However with multifamily apartments it is all about the numbers and considering that both properties could rent for roughly the same amount (as usually considering Section 8 Tenants and fully rented). The Hemet duplex is the better choice.

Hemet Duplex Bank Owned Apartment

Cost per unit on the Hemet apartment is almost half the cost of the Lake Elsinore Duplex and all other numbers are greatly larger as well.

For more information about these or any other properties in Southern California then contact me either via email or phone and it would be my pleasure to help!

Hope you enjoyed reading!

Until Next Time!

God Bless -

Tim Taggett
Serving with Honesty and Integrity!
Building Dreams Through Real Estate!
Temecula: (951) 240-5645
San Diego: (760) 481-3152
Email: RetireEarly@live.com
“All hard work brings a profit, but mere talk leads only to poverty.” - Proverbs 14:23

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