Who Buys Turn-Key Multi-Family Properties in the Bay Area

[Jonathan Pflueger]

BP Community, 

I am investigating the multi-family game and I am trying to figure out what types of investors are buying fully turn-key multi-family complex's in the Bay Area (San Jose/Santa Cruz - and surrounding cities/towns) ? I would like to know my target audience when I am rehabbing or advertising my property for sale. 

Say I buy a value add 6-plex, restore it to a prime income producing property by increasing rents or decreasing costs etc.., and then I want to sell it and realize the difference in value. Who is my target buyer?? What types of investors want a property that has no immediate upside potential? 

Thanks for any of your insights or thoughts. 

Jonathan

[Account Closed]

There's plenty of value add opportunities for multi-family in the Bay Area. And there are plenty of willing buyers ready to purchase your turnkey MF property. Many of these are 1031 buyers that need to act quick. You'll find that most of these are ok with a 5% cash on cash return (not me)

Your best bet is to link up with some of the commercial power brokers that specialize in multifamily. There are several in each of the core Bay Area markets. I use one that is based in Walnut Creek, and he has a constant flow of off-market value add and turnkey properties in the East Bay.