Either way, it's more affordable than King Co.

Below is a snippet from cap rate survey showing that class A properties always command lower cap rates (i.e. not higher): City State Property Class Multifamily New York New York A 2.52 New York New York B 5.06 New York New York C 6.70 Los Angeles California A 2.62 Los Angeles California B 5.75 Los Angeles California C 7.31 Chicago Illinois A 4.31 Chicago Illinois B 6.08 Chicago Illinois C 9.07 Houston Texas A 5.23 Houston Texas B 7.26 Houston Texas C 8.09 I do agree that cap rate is driven by supply and demand and long term trend of interest rate.

C class assets in WA or CA are akin to C class assets in the midwest if you use the same scoring criteria universally.

:-D I closed a few weeks ago on 128 Beaufain for a new build.. as well. and my bank pulled up an old article of that one having flooding issues at king tide.. so we did fill the lot a tad..

Do you do REI in California?

Here's where I ended up: no rent reduction and okay'd a dog under 30lbs, already housebroken, with a $500 pet deposit (cannot charge extra pet rent in CA which is illegal).  

It likely wont qualify for FHA or CA without it being repaired.

I live in California and am looking to do OOS investing.

I live in Los Angeles, CA and I have 8 properties in Yukon, OK.

I'm a NEW investor living in the California Bay Area (San Jose).