Why Are So Many 4-Plexes for sale?

Question

My husband and I are moving up to Anchorage for his work and we are looking into house-hacking solutions. While looking on Zillow we notice that there are a ton of four unit multi family homes available in the Mountain View area. We've since decided to look into other neighborhoods, but I'm still curious as to why there are so many 4-plexes available. Any ideas?

Keenan Fitzpatrick · Answer

There is always more 4plex's for sale in Mt.View because there is a really high concentration of them there and they take longer to sell. Their prices have softened a little over the last few years as have the rents. When rents were higher, we had less inventory there. Outside of Mt.View there is less inventory than normal.

Landon Fillmore · Answer

I'm moving up to the area in December, and this was helpful to read. I noticed the same thing with the high concentration of 4-units in that area. Thanks for the post!

Connor Dunham · Answer

@Gabby Stewart Most people don't want to live in the "view" neighborhoods if they can afford not to. It requires a higher level of security and you don't want to walk at night. To be fair, I've had my house robbed and car broken into in a nicer neighborhood in Anchorage. But I don't mind going on walks in the dark in my neighborhood. Look into places near the Coastal trail, Chester Creek trail, or Campbell Creek trail. These trails span most of the Anchorage bowl and add year-round value for any owner or renter in Anchorage.

Chris S. · Answer

Mt. View is a difficult area to own in for a first time house hacker/investor. It is the "bad" area of town and a lot of people who havent lived there before dont understand the clientele of the area.

With real estate prices being pretty high due to low interest rates a lot of owners in Mt. View are trying to get rid of their headache property.  I own a few fourplex in Mt. View and while they can make money, they are generally older buildings that have never been updated so you will have more issues. Mt View also has a bad rap in Anchorage and it will be more difficult to get good tenants. Not impossible by any means, but definitely more difficult.

Gabby Stewart · Answer

Thanks for your answers and the tips! We’ll definitely stay away from those areas🙂

Why Are So Many 4-Plexes for sale?

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