I ran across this article on Bigger Pockets recently entitled "Here's Why I'll Never Sell My Multifamily Investment Properties" and thought it was really telling as to why there's always low inventory in the small to midsize multi-family sector. Most investors, especially the seasoned investors, are in the landlord game for the long haul as this gentlemen is. The end game is passive retirement income. Sure, it ebbs and flows, and some years are better than others, but over time, the reward is worth the pay off as long as you purchased a property in good condition in a good location and have active management. Duplex, triplex, fourplex, and other multi-family owners tend to purchase and hold for long term making less opportunities for others to get into multi-family housing. Here's a snapshot of sales prices of duplexes and quads over the last ten years! Pensacola area multi-family sales:
2007 Duplexes: 51 Average Sales Price $144,209 Quads: 38 Average Sales Price $223,275
2008 Duplexes: 17 Average Sales Price $139,712 Quads: 12 Average Sales Price $159,200
2009 Duplexes: 18 Average Sales Price $94,338 Quads: 16 Average Sales Price $149,227
2010 Duplexes: 28 Average Sales Price $53,089 Quads: 11 Average Sales Price $99,750
2011 Duplexes: 26 Average Sales Price $47,319 Quads: 12 Average Sales Price $112,650
2012 Duplexes: 30 Average Sales Price $84,715 Quads: 14 Average Sales Price $96,279
2013 Duplexes: 33 Average Sales Price $74,076 Quads: 19 Average Sales Price $96,766
2014 Duplexes: 49 Average Sales Price $80,440 Quads: 19 Average Sales Price $88,400
2015 Duplexes: 30 Average Sales Price $76,670 Quads: 22 Average Sales Price $98,851
2016 Duplexes: 44 Average Sales Price $107,521 Quads: 17 Average Sales Price $164,770
2017 Duplexes: 55 Average Sales Price $142,582 Quads: 18 Average Sales Price $174,851
2018 Duplexes: 54 Average Sales Price $129,979 Quads: 18 Average Sales Price $290,394
2019 Duplexes: 57 Average Sales Price $154,090 Quads: 10 Average Sales Price $341,800
2020 Duplexes: 59 Average Sales Price $206,589 Quads: 7 Average Sales Price $307,500
2021 Duplexes: 85 Average Sales Price $224,643 Quads: 23 Average Sales Price $399,536
2022 Duplexes: 63 Average Sales Price $272,495 Quads: 21 Average Sales Price $430,220
2023 Duplexes: 52 Average Sales Price $280,478 Quads: 21 Average Sales Price $441,852
We've been getting so many calls and emails from investors trying to locate income producing multi-family investments in the Northwest Florida area. We are having an increasingly hard time finding our clients investment properties that cash flow and make sense as prices and interest rates continue to increase. If you have a duplex, triplex, fourplex, or other apartment in the Pensacola area, we can find a buyer for you. Looking at the last ten years of multi-family sales, now may be a good time to sell. If you're interested in purchasing a small or midsize multi-family property, reach out to our office as we're always on the hunt! originally posted 09-27-2018, Updated 2-7-2024.
Read more on the Pensacola Multi-Family Market here: https://www.pensacolarealtymasters.com/blog/pensacola-multi-family-sales-market-update and include the “homes for sale” button for this link? https://www.idxhome.com/report/listing-report/Multi-family/172711/2523578
