23 Jun Multi-unit investment market in The Twin Cities
Multi-unit investment market in The Twin Cities
Many buyers like the investment of multi-unit dwellings in the Twin Cities. They live the historical appreciation, the tax benefits of depreciation and the safety of real estate.
What is the multi-unit investment market like right now?
Like our single-family inventory, townhomes and duplexes the inventory is small in this market. But there are also very few built in the Twin Cities in comparison. Here is a summary for multi-unit investment properties in the eight county Twin Cities area.
· Coming soon status: 0.
· Active multi-unit properties for sale: 13. The average price is $675,468 and 62 days on the market. This is for four-unit investment properties.
· Fourplexes in pending sale status (sold but not closed): 13. Average price for these is $551,300 with 30 days on the market.
What are the statistics for multi-unit properties sold in 2021?
For the eight county Twin Cities area we have had 66 fourplexes sell and close so far in 2021. The most common sales price range is $400-$500K with 25 sales. Average marketing time for those sales was 47 days, average list price was $543,401 and average sale price was $541,862.
How can I find a fourplex right now?
The simple answer is yes. What will it take? Seeing the fourplexes as soon as they are available, making strong offers and working with an agent who has experience in this type of market!
If you need advice on anything in Minnesota, just call me at 612-386-8600.
I hope this blog on “Our multi-unit investment market in the Twin Cities” was helpful.
Please reach out to me if you have questions about housing in Minnesota at 612-386-8600.
Look for more articles and videos in the future on different aspects of real estate and our state of Minnesota.
Real estate is a wonderful investment!