Out of 200, 4 plexes in Phoenix, Scottsdale and Glendale there are 27 which are short sale or foreclosed; lender owned properties.  This is down about 20% from 2 months ago.  Many of those lender owned properties have been purchased by savvy investors. 

Fourplexes currently start at $99,000. Yes it's a fix up but someone is going to make money on it.
Others are available for less then $200,000 while some really good fourplexes can be purchase for less then $300,000.

Purchasing a foreclosed fourplex is a little different and requires more cash and reserves because most often these properties are completely vacant, so an investor will not only have to prepare a neglected property but wait to fill the vacancies. Make sure you calculate that in before you buy.  None the less the prices are amazing and buying properties with that will cash flow is possible.

You can search for multifamily income properties here.  Just select the advanced tab and select multifamily but its easier if you let us know and we can do a more thourough search for you.

Call Artur at 602-628-4349 or Joanna at 602-358-1392