What is the average time multi family properties are on the market in California before they sell?

In Buying Property - Asked by T. F. - May 10, 2011
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Answer(s)

Rob B.
Chandler, AZ

T.F….
This is akin to asking "how big is big"?
While the multi-family market is a fine investment in California these days, one must temper a desire to sell with the location, age of property, quality of property, specific property occupancy and market vacancy. These are a few of the considerations.

Generally, an "A" property in a commensurate location, which is priced correctly, will not remain on the market long. (15-45 days).
A "B" property priced right, in a decent location will also be a decently moving property, (30-45 days).
When you get to "C" and "D" properties it is "good luck time". This will depend on most of the conditions that are expressed above and certainly most important is location, with price and condition being close behind. "Good luck time" is 60 days to forever!
You might take a look at all the LoopNet listings to get a view of this yourself.
Onward and upward T.F. Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: rob@capratecommercial.com

May 11, 2011
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Tai N.
Broker/Agent
City Of Industry, CA

T.F., as Rob has mentioned. It boils down to several components: 1. Location, 2. The property itself, and 3. Price... all other things fall behind it. It also helps if you have a commercial real estate agent/broker represent you. I've had a 16 unit apartment in a C location sell within 14 days of list (that includes marketing, escrow, and closing). On the flip side I've seen listings that have sat forever. Good luck.

May 26, 2011
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Gregory G.
Broker/Agent
San Francisco, CA

As others have pointed out, it depends on several variables.
.
.
Gregory Garver - Commercial Real Estate Broker
Broker License #01716531
(415) 968-6065
greg@nnnbrokersusa.com
http://www.gregorygarver.com

Jun 11, 2011
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