Huntington Beach California is a huge beach community in north/central Orange County offering multifamily investors a wide range and inventory of duplex, triplex and fourplex residential income property options. This blog post will be focussing on some of the early 2014 statistics for 4-plex (fourplex) closed sales, opened escrows and available properties using the CRMLS for reference.
As of the third week of February 2014, there have been six 4-plex multifamily property closed sales. Throwing out the high and the low, the average sales price so far this year is $1,096,000 with the average gross scheduled income being $64,051. With these figures we can calculate the average GRM (gross rent multiplier) thus far in 2014 to be right around 17 for closed fourplex properties in Huntington Beach California.
With seven 4-plex properties currently listed as active and eight fourplexes currently in escrow, it is very evident residential income property investors are loving the ROI (return on investment) Huntington Beach California is offering. 4-plexes still qualify for residential loan programs and a large percentage of the fourplexes in Huntington Beach were built in the 1970’s and offer one or two larger townhouse style units which are awesome for the super savvy owner occupying investors.
Although the absorption rate of fourplex properties listed for sale in Huntington Beach is extremely high, the multifamily market is very fluid with new properties hitting the market daily. Currently there are over 18 active residential income multifamily duplex, triplex, fourplex and commercial apartment buildings looking for buyers. Huntington Beach California may offer the perfect combination of appreciation, income generation and location for your next investment property purchase.