Anyone has invested in Napa or Sanoma? Just saw this on BP and curious.
I just wanted to share my success on a duplex I have in Napa.
I bought a duplex of two 2/1 units right next to downtown on a “for sale by owner.” The front was remodeled already and I remodeled the back to match. I focused most of the money on a extravagant kitchen. The units are right next to the new Culinary Art Institute/ Oxbow market.
Purchase Price was 640k and I put an extra 15k into the back unit.
Debt and Expenses with reserves come out to be about 3900/month and each unit rents for 2300. It cash flows at 700/Month.
In terms of equity, comps in the market are in the 740-770 range.