Here's an update on small multi-family properties available in Palo Alto for under $1.5M. These can be great starter properties for new investors.
There are currently three properties on the market, all have been on the market at least two months and were also on my update last week. "Days On Market" continue to increase, an indication that the seller may be ready to negotiate.
Downtown - 4 units; $1,450,000; 94 days on market
Midtown - 4 units; $998,000; 79 days on market
Stanford/California Avenue business district - 3 units, $1,070,000; 194 days on market
If you missed my previous announcement, 740-748 Sutter Avenue (5 units) closed escrow on June 2nd:
Listing Broker: John A. Souerbry & Associates
Buyer's Broker: Alain Pinel Realtors, Palo Alto
List Price: $1,490,000
Final Sales Price: $1,635,000
For investment properties in Palo Alto, contact me at firstname.lastname@example.org .