Showing posts with label Apartments. Show all posts
Showing posts with label Apartments. Show all posts

Tuesday, April 13, 2010

Bargains lure buyers to OC apartment buildings

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.

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