This is a list of multifamily rental properties that have sold between May and August of 2019. If you own a property, the information can help you estimate how an appraisal will value your property. Based on this information you can determine whether your investment can work any harder for you. Perhaps a refinance, a purchase or a sale of a property will help your investments bring you a better return..
If you do not own a residential income property, you may want to build an investment portfolio. I hope you find the information useful as you reach forward to begin to build a real estate portfolio.
Averages
- Caprate: 5.1% Actual; 6.3% Proforma
- Price/unit: $108,686
Sold Properties (most recent first)
822 Clubhouse, built 2004
- 8/22/2019
- Sold Price: $453,000
- Annual rent: 39,000; 42,000*
- Expenses $15,696
- Caprate: 5.1%; 5.8%*
- Gross Rent Multiplier: 11.6; 10.8*
737 Cleveland, built 1979
- 8/6/2019
- Sold Price: $331,000
- Annual rent: $31,200; $32,400*
- Expenses: $15,600
- Caprate: 4.7%; 5.0%*
- Gross Rent Multiplier: 10.6; 10.2*
1753 Grandview, built 1984
- 7/31/2019
- Sold Price: $335,000
- Annual rent: $28,800; $38,400*
- Expenses: $14,400
- Caprate: 4.2%; 7.2%*
- Gross Rent Multiplier: 11.6; 8.72*
680 Lincoln Dr, built 1949
- 7/26/2019
- Sold Price: $200,000
- Annual rent: $19,200; $21,480*
- Expenses: $9,500
- Caprate: 4.9%; 6.0%*
- Gross Rent Multiplier: 10.4; 9.3*
145 Clubhouse, built 2004
- 6/18/2019
- Sold Price: $450,000
- Annual rent: $39,240; 42,000*
- Expenses: $15,696
- Caprate: 5.2%; 5.8%*
- Gross Rent Multiplier: 11.5, 10.7*
1354 E 16th St, built 2007
- 6/12/2019
- Sold Price: $690,000
- Annual rent: $60,000; $69,600*
- Expenses: $24,000
- Caprate: 5.2%; 6.6%*
- Gross Rent Multiplier: 11.5; 9.91*
840 Garfield, built 1968
- 5/31/2019
- Sold Price: $320,000
- Annual rent: $32,400; $34,800*
- Expenses: $16,200
- Caprate: 5.0%; 5.8%*
- Gross Rent Multiplier: 9.9; 9.2
654 South Saturn, built 2018
- 5/31/2019
- Sold Price: $385,000
- Annual rent: $37,500
- Expenses: $13,125
- Caprate: 6.3%
- Gross Rent Multiplier: 10.3
1260 S Boulevard, built 1980
- 5/24/2019
- Sold Price: $180,000
- Annual rent: $15,600, $19,080*
- Expenses: $7,020
- Caprate: 4.7%, 6.7%*
- Gross Rent Multiplier: 11.5, 9.4*
2405 Eagle Dr, built 2006
- 5/21/2019
- Sold Price: 460,000
- Annual Rent: $43,200
- Expense: $15,120
- Caprate: 6.1%
- Gross Rent Multiplier: 10.6
If there is other investment information you would find helpful, feel free to reach out. If you would like to connect to either list a property you own or purchase a property for your portfolio, please do not hesitate to reach out.
