Well, What Happened On This One @Manch?

4 plex in Newark sold for 1.3M. Sold in 38 days. All units occupied and rents are identical at 1400/unit. If I calc’d it right, that is a cap rate of only 3.7%, based on provided info. Not exactly great looking building and units are not really big or remodeled. Betting on being able to raise rents substantially on this???

2/1/800 in a crappy 4-plex renting for $1400 sounds about right. At most they can raise it to $1600 maybe? Not an expert in Newark. Time to ask the Fremont people.

I am just curious as to why this multi unit sold at that price, considering the relatively low rental income. Come on, I essentially get this amount from my Oakland 4-plex but I probably wouldn’t get close to 1.3M if I sold today.