Another Bay Area appreciation data point!

[Arlen Chou]

So I posted a little while ago about a refi of my home, and the appreciation that I have see over 13 years of ownership.

Here is another data point for local Bay Area investors to consider before deciding to go out of State: 

I purchased a 4 plex in Mountain View in 2013 for $840k. Received my appraisal today for my cash out refi... $1.5m! This is not an A market residential area. It is more of a solid B area for young tech people.

This is not meant to be a knock on those who believe in "cash flow" and feel appreciation is just the frosting. It is just a specific data point for those people thinking about investing thousands of miles away believing that money cannot be made in post crash "hot" markets.  

I fully believe that there is something to be said about quality vs quantity... As I have said in my previous post, this strategy might not be for everybody.  It is just a glimpse into what has worked for me in my local market.

-Arlen

[Manch Hon]

Congrats Arlen! I remember you talking about rehabbing. Is that the 4-plex in MV? Do you mind sharing the before-vs-after rent? I guess 4-plex is still classified as residential instead of commercial. It might have benefited greatly by the rising value of houses around it.