One in three small apartment buildings listed for sale are going into escrow, with sales spurred perhaps by price drops of 20% or greater.
But rising vacancies and falling rents continue to hamper the amount of income such investments generate.
(Read more on the market for duplexes, triplexes and four-plexes HERE!)
Orange County market demand, investors snatched up 147 small apartment buildings in Orange County last month, buying just over a third of the buildings listed for sale.
At that sales pace, Orange County has just under a three months supply of small multi-family buildings — that is, duplexes, triplexes and four-plexes. That’s almost as low as the supply of houses and condos now for sale.