Selling a Triplex Multifamily Investment Property in Silicon Valley
Whether you want to change up your investment portfolio, do a 1031 exchange or get rid of a property that just isn’t working for you, working with a multifamily property specialist in Silicon Valley is the first step.
Your multifamily REALTOR can help you determine the best possible price for selling your triplex, which is the most important factor in how quickly you sell. Your agent will evaluate your triplex’s:
- Cap rate
- Individual unit sizes
- Property amenities & upgrades
- Rent prices and net operating income
- The property’s age
Along with a few other considerations, these are some of the factors that determine how much your triplex is worth. Your agent will compare your multifamily investment property to other, similar properties and evaluate what buyers are willing to pay – in today’s market, with today’s conditions and in the same area – for triplexes. That way, you can decide on the best possible asking price; that’s the price that’s most likely to sell your investment property quickly and at the best possible profit for you.
How Important is Pricing When Selling a Multifamily Investment Property?
When you meet with your REALTOR, she’ll likely discuss how important pricing is when you’re selling a multifamily investment property. If you price the property too high, the buyers who qualify to purchase it won’t see it while they’re searching (they’re searching within their budgets – not above them); if you price it too low, you’re leaving money on the table that you could use to invest in something else.
A multifamily investment property that’s priced right can sell in a matter of days – and that’s why it’s so important to rely on your REALTOR for the most accurate pricing information. You can get a free analysis of how much your triplex is worth here.
Marketing to Sell a Multifamily Investment Property
The pool of buyers for multifamily investment properties is vastly different from the pool of buyers for single-family homes. Generally, people know they’re interested in buying a triplex – and they’re only looking at triplexes or small multifamily homes (2-4 units).
It takes a REALTOR with multifamily property marketing skills to put your investment property in front of these buyers – and to market it in a way that connects with them so they want to schedule a tour and seriously consider the property.
You need to work with an experienced agent who understands how, where and when to market your triplex so it reaches the widest possible audience. The more prospective buyers your agent brings in, the more likely you are to sell your multifamily investment property quickly and at the right price.