Looking for areas that have several fourplexes ?

Rental Property Investor · Castro Valley, CA · Member since 2011 · 81 posts · 17 votes

Hi All,

Where can I search for areas where there are several fourplexes ( at least 10 ) built together in one neighborhood ? I would like to search State by State and also with a year built after 1975.

TIA !

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Jarrod Kohl

Boston, MA · Member since 2017 · 209 posts · 126 votes

Quote from @Joe Gilroy:

Hi All,

Where can I search for areas where there are several fourplexes ( at least 10 ) built together in one neighborhood ? I would like to search State by State and also with a year built after 1975.

TIA !

Not sure about the Post'75....but Worcester and other areas of central Mass and New england have "Three Deckers" everywhere. And they are usually 3-4 units each. Worcester, Somerville, South Boston, Rhode Island (downtown areas) all have plenty of these types.

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Evan Polaski
Cincinnati, OH · Member since 2020 · 4k+ posts · 3k+ votes
4y
@Joe Gilroy, I clearly don't know the entire country, but I think this will be hard to find.
From my experience, these types of "neighborhoods" are only found in older areas. Cincinnati has many of them, but they are all much older than 1975, typically '30s and '40s construction. Additionally, many of them are individually parceled and are now owned by various owners, so building any efficiency in these properties is challenging unless your investment horizon is over decades and you can buy up each one as the owner is ready to sell.
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Jarrod Kohl
Boston, MA · Member since 2017 · 209 posts · 126 votes
4y
Quote from @Joe Gilroy:

Hi All,
Where can I search for areas where there are several fourplexes ( at least 10 ) built together in one neighborhood ? I would like to search State by State and also with a year built after 1975.
TIA !

Not sure about the Post'75....but Worcester and other areas of central Mass and New england have "Three Deckers" everywhere. And they are usually 3-4 units each. Worcester, Somerville, South Boston, Rhode Island (downtown areas) all have plenty of these types.
4 Reply
Michael Dumler
Real Estate Agent · Atlanta, GA · Member since 2020 · 1k+ posts · 1k+ votes
4y
@Joe Gilroy, believe it or not, the surrounding submarkets of Atlanta have several neighborhoods that are comprised of 2-4 unit properties (mostly duplexes). I'm not sure if there's one real estate platform that would be able to provide such information. Your best bet is to continue to connect with investors and vendors on BP to dig into more. Hope this helps!
3 Reply
Caleb Brown
Real Estate Agent · Kansas City · Member since 2018 · 4k+ posts · 3k+ votes
4y
Kansas City! Would be happy to chat
1 Reply
Joe Gilroy
OP
Rental Property Investor · Castro Valley, CA · Member since 2011 · 81 posts · 17 votes
4y
Thank you all for the responses ! I will check these out !
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Brandon VukelichBusiness Member
Real Estate Broker · Tacoma, WA: 🏢 27 LTRs 🏡 3 STRs · Member since 2018 · 547 posts · 457 votes
4y
Check out Neal Bawa and his Grocapitus, their Equinox development in Idaho Falls. That's more of syndication option but that's the only "newer" group of 4plexes I've heard of recently. I think you may be hard pressed to find 10+ available in the same neighborhood. We have communities of 4plexes in our area but unlikely that there would be 10+ motivated sellers right now. Best wishes on your search!
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Don SpaffordPro Member
Investor · Idaho Falls, ID · Member since 2016 · 935 posts · 629 votes
4y
As mentioned it will be hard to find a place built like that which is still all held together by one owner. In many cases communities like that get built and the individual fourplexes are sold off.
I know of 4 that are together, off-market in Eastern Idaho. Assuming the owner still wants to sell.
I have two I am getting ready to sell in Arkansas.
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Harish V.
Investor · Fremont, CA · Member since 2015 · 210 posts · 124 votes
4y
Quote from @Brandon Vukelich:

Check out Neal Bawa and his Grocapitus, their Equinox development in Idaho Falls. That's more of syndication option but that's the only "newer" group of 4plexes I've heard of recently. I think you may be hard pressed to find 10+ available in the same neighborhood. We have communities of 4plexes in our area but unlikely that there would be 10+ motivated sellers right now. Best wishes on your
I will stay away from Neal Bawa due to my experience. Your experience may vary. Check out all sources before you proceed.
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Brandon VukelichBusiness Member
Real Estate Broker · Tacoma, WA: 🏢 27 LTRs 🏡 3 STRs · Member since 2018 · 547 posts · 457 votes
4y
Quote from @Harish V.:

Quote from @Brandon Vukelich:

Check out Neal Bawa and his Grocapitus, their Equinox development in Idaho Falls. That's more of syndication option but that's the only "newer" group of 4plexes I've heard of recently. I think you may be hard pressed to find 10+ available in the same neighborhood. We have communities of 4plexes in our area but unlikely that there would be 10+ motivated sellers right now. Best wishes on your
I will stay away from Neal Bawa due to my experience. Your experience may vary. Check out all sources before you proceed.

Good to know Harish. Please send me a DM. I'd like to learn more for my own reference.
Broker at Multifamily Properties519 Reviews
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Rodney Sums
Laveen, AZ · Member since 2016 · 584 posts · 528 votes
4y
Quote from @Joe Gilroy:

Hi All,
Where can I search for areas where there are several fourplexes ( at least 10 ) built together in one neighborhood ? I would like to search State by State and also with a year built after 1975.
TIA !
The closest thing that I can think of meeting the criteria of several MF units in the same area might be someone doing a portfolio sale. Try LoopNet. Given how low inventory is, I share everyone's sentiments about that being challenging to find.
Out of curiosity, why ten 4-doors instead of a building with 30 or 40 doors? Might be cheaper. Is the commercial financing an issue?
0 Reply
Conner Olsen
Real Estate Agent · Austin, TX · Member since 2020 · 1k+ posts · 941 votes
4y
@Joe Gilroy You can find those in Austin, TX and probably in Dallas and Houston.
1 Reply
Rick Baggenstoss
Developer · Decatur, GA · Member since 2011 · 1k+ posts · 1k+ votes
4y
As a real estate professional, you should read about the zoning laws changes nearly eliminated small multifamily houses -- making most areas single family. These smaller multifamily dwellings are now often referred to as the missing middle.
Atlanta's small multifamily, like many cities, are concentrated in the oldest neighborhoods. Very few will be younger than 1940's. Eight to ten units popped up in the 1950's, but that was the last of these smaller developments.
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Rowan Ledbetter
Investor · Little Rock, AR · Member since 2016 · 10 posts · 5 votes
4y
@Don Spafford Where in Arkansas?
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Bruce Lynn
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
4y
There are a handful of places around Dallas area I can think of....what's your idea?
Most of the places I don't particularly like....as they've ended up with different owners and while you might want to keep yours nice clean and updated.
They owner next door may not care at all and lets it get in bad repair...and that can affect your value.
This seems to be more common with the area of 4 plexes. I see less of this with duplexes....where we also sell 1/2 duplexes here in this area.
More areas with a lot of duplexes owned by different owners, then I can think of areas with 4plexes.
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Don SpaffordPro Member
Investor · Idaho Falls, ID · Member since 2016 · 935 posts · 629 votes
4y
Quote from @Rowan Ledbetter:

@Don Spafford Where in Arkansas?

Pine Bluff
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Eliott Elias
Investor · Austin, TX · Member since 2021 · 9k+ posts · 5k+ votes
4y
Killeen Texas has a bunch, I am selling one on 2004 Cedarhill Dr
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Lucia Rushton
Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
4y
@Joe Gilroy curious as to what specifically you are looking for ? One owner to sell? Zoning ? Etc ?
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Jordan MoorheadBusiness Member
Real Estate Agent · Austin, TX · Member since 2015 · 5k+ posts · 3k+ votes
4y
@Joe Gilroy we have lots of that in Austin
[email protected]512-888-9122
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Joe Gilroy
OP
Rental Property Investor · Castro Valley, CA · Member since 2011 · 81 posts · 17 votes
4y
@Lucia Rushton I am looking to buy one fourplex this year and maybe buy another one next year. Also looking for a good rent income to purchase price ratio.
1 Reply
Lucien Perreault
Investor · Chicago, IL · Member since 2016 · 81 posts · 81 votes
4y
@Joe Gilroy
They’re all over the place in Chicago. I own one in Roscoe Village which is about a mile from Wrigley Field. Chicago gets a bad rep but the right neighborhood and right price can make you some great cash flow. I have an excellent realtor I can put you in touch with if you want to go further. Good luck on your search!
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Andrew Frowiss
Real Estate Agent · Austin, TX · Member since 2016 · 96 posts · 69 votes
4y
Hi @Joe Gilroy I would recommend looking into Killeen TX! Lots of 4 plexes and a cash flowing rental market.
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Jasmine H.
Rental Property Investor · Houston, TX · Member since 2014 · 139 posts · 140 votes
4y
@Joe Gilroy
21155 Gosling Rd, Spring, TX 77388
These are new construction but hoa is around 200 each unit. They sell duplexes and fourplexes.
0 Reply
Akhil Kumar
Investor · Suwanee, GA · Member since 2016 · 49 posts · 9 votes
4y
@Michael Dumler: would love to know more about the ones in Atlanta. Thank you!
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Isaiah Gabaldon
Contractor · San Diego, CA · Member since 2022 · 16 posts · 7 votes
4y
@Joe Gilroy there's a bunch of them where i grew up in Albuquerque, New Mexico in the 87123 zip code. But honestly it's not a great area.
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Bruce Lynn
Real Estate Broker · Coppell, TX · Member since 2011 · 5k+ posts · 4k+ votes
4y

@Rick Baggenstoss Your statement is true, but we are starting to see this change in many places. I don't like the change, I don't want a 4plex next to me in my single family neighborhood, but many cities around the country eliminating single family zoning. CA has made big initiatives, MN I believe eliminated it in 2021, OR has discussed.
https://news.yahoo.com/would-b....
https://www.brookings.edu/blog...
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