How to Buy a Fourplex in Silicon Valley
Making the decision to buy a fourplex is a big one – but it may be one of the best choices you’ve ever made. Four-unit rental properties, sometimes called quadruplexes, are selling quickly in San Jose, Campbell, Santa Clara and elsewhere in Silicon Valley. These properties, designed to allow you to build four separate streams of income, are generally reasonably priced for savvy investors – and there’s likely one that’s a good fit for you.
Before you start crunching numbers and scouting out properties that interest you, you should consult with a multifamily property expert in Silicon Valley. Your REALTOR® can help you identify properties that you may not find on your own, as well as schedule appointments for you to tour properties all over Silicon Valley and find one that’s just right for your needs. She can also negotiate with sellers on your behalf and ensure you’re getting an investment property at the best possible price, handle all the legal details that a purchase necessitates, and walk you through the closing process so you can bring in tenants and earn passive income.
Check Out Fourplexes for Sale in Silicon Valley Now
Scroll through the fourplex listings in Silicon Valley below. When you see a property you like, call or text 408-210-2400 to schedule a private showing.
Financing When You Buy a Fourplex
Most people use conventional financing or cash to purchase a fourplex in Silicon Valley. Because you don’t need a commercial loan to buy a fourplex, it may be the best choice for you.
Some people live in one unit of a fourplex while renting out the other three, and others choose to rent out all four. You can use the income you generate from owning a fourplex to reinvest in the property by making upgrades or improvements, or you can save it for the purchase of another fourplex later. When you find qualified, responsible tenants, you can count on a steady stream of income that covers the mortgage payment and provides you with additional cash for other purposes.
What to Look for When You Buy a Fourplex
Buying a fourplex is a big decision – and it’s one that could cost you if you don’t choose wisely. That means you should only work with a multifamily REALTOR® who’s looking out for your best interests every step of the way. Your REALTOR will talk to you about your goals, help you identify properties that can earn you income, and ensure that you get answers to all your questions about buying a fourplex in Silicon Valley.
Some of the factors you and your REALTOR will evaluate include a property’s location, condition and amenities. The age of the property is important, and so is the current rents, vacancy rate, and whether there are tenants currently living there, in addition to how long. When you have all the information you need, you’ll be able to make the best possible decision for your future.