Tommy Dobczyk examines an Opportunity Zone property listed as multifamily but suggests holding it as raw land instead. He wants the team to check multifamily saturation rates for the ZIP code and compare Phoenix, Los Angeles, and Tempe to see if waiting makes sense.
Chapters
Are you in the deal room on one of our listing sites? And I believe it's in an opportunity zone. It's been, it's been labeled that way. Can you review this property before we go too deep? I know it's advertised as a multifamily, but we really want to consider it as an industrial, industrial lot and, and see if we can hold it off from development for a couple of years until the, the saturation of the area returns to a, a more favorable position for investors. I, to confirm, can you actually look up the saturation rate for this zip code and give us a, a comparison between, between Phoenix, LA, and Tempe as to what saturation looks like in Tempe for multifamily? Go ahead and go dig into this real quick and we'll wait for you to get back.