So Cal Multifamily Sales Pulse - August 27, 2023 - September 2, 2023

Disclaimer: All information contained herein is obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only. We make no claim(s) as to the accuracy or reliability of the information presented. If you wish for us to analyze your specific property or situation please feel free to call or email us anytime.


Here's What's Happening In The Market, Here’s What This Means For You

Fed Chairman Powell: ‘We Are Prepared To
Raise Rates Further If Appropriate’

KBRA: CMBS Delinquencies Top 4% with 23-bp Monthly Increase

Q2 Apartment Sales Fall Below Pre-Pandemic Levels

Commercial Lending Fell 52% In Second Quarter

Maybe Secret Distress Is Behind CRE Market Performance

Multifamily Permits Down 32.2% From a Year Ago

Record Gap Forms Between Home Affordability and the Cost of Renting

Small Apartment Cap Rates Jump As Sector Remains Resilient

Rental Investment Experiencing Mixed Effects of High Interest Rates and Strong Labor Activity

Home Prices Continue To Remain Elevated

The Fed May Have Destroyed The Housing Market By Crushing Both Supply And Demand

Rising CRE Loan Delinquencies
Aren’t Worrying Banks Yet

Investors Losing Their Appetite for Purchasing Homes

Unemployment Rate Unexpectedly Surges As BLS Revises Payrolls For Every Month In 2023 Sharply Lower

$205B of Dry Powder Ready to Pounce
on Distressed CRE Assets

Apartment Rent Growth Has
Moved Into Negative Territory

Fundamentals Favor Multifamily

The “Urban Doom Loop:” A
Possible Economic Threat?

Home Sales Across The Inland Empire Plunge 22%


If you're looking for currently available multifamily properties visit:
https://www.mikelembeck.com/search-the-mls
for access to all available multifamily listings throughout Southern California.

Orange County

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Orange County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.44%
Avg. Gross Rent Multiplier: 14.74
14
Closed Sales Last Week
40
Closed Sales - Average Days on Market
$1,942,143
Closed Sales - Average Sales Price
5
Transactions Sold At or Above Asking Price
6
Financed Transactions Last Week
8
All Cash Transactions Last Week
13
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

12
New Listings Last Week
5
Months of Inventory
195
Total Number of Active Listings
$651,483,451
Active Listings, Dollar Volume
4
Active Under Contract Last Week
4
Pending Listings Last Week
7
Expired Listings Last Week

Long Beach

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Live MLS Link PDF Link

Long Beach Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.19
6
Closed Sales Last Week
42
Closed Sales - Average Days on Market
$948,083
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
1
All Cash Transactions Last Week
6
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

4
New Listings Last Week
6
Months of Inventory
99
Total Number of Active Listings
$291,012,086
Active Listings, Dollar Volume
2
Active Under Contract Last Week
7
Pending Listings Last Week
4
Expired Listings Last Week

Los Angeles County

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Live MLS Link PDF Link

Los Angeles County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.63%
Avg. Gross Rent Multiplier: 14.19
58
Closed Sales Last Week
51
Closed Sales - Average Days on Market
$1,812,755
Closed Sales - Average Sales Price
24
Transactions Sold At or Above Asking Price
43
2-4 Unit Transactions Last Week
15
5+ Unit Transactions Last Week

112
New Listings Last Week
24
Months of Inventory
1,897
Total Number of Active Listings
$12,639,595,947
Active Listings, Dollar Volume
42
Active Under Contract Last Week
32
Pending Listings Last Week
65
Expired Listings Last Week

San Diego County

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San Diego County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.66%
Avg. Gross Rent Multiplier: 14.42
10
Closed Sales Last Week
23
Closed Sales - Average Days on Market
$1,206,000
Closed Sales - Average Sales Price
5
Transactions Sold At or Above Asking Price
9
Financed Transactions Last Week
1
All Cash Transactions Last Week
10
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

15
New Listings Last Week
10
Months of Inventory
187
Total Number of Active Listings
$80,194,845
Active Listings, Dollar Volume
2
Active Under Contract Last Week
13
Pending Listings Last Week
14
Expired Listings Last Week

Riverside County

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Live MLS Link PDF Link

Riverside County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 5.7%
Avg. Gross Rent Multiplier: 12.09
3
Closed Sales Last Week
58
Closed Sales - Average Days on Market
$523,333
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
1
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

2
New Listings Last Week
23
Months of Inventory
83
Total Number of Active Listings
$383,618,067
Active Listings, Dollar Volume
2
Active Under Contract Last Week
3
Pending Listings Last Week
4
Expired Listings Last Week

San Bernardino County

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Live MLS Link

San Bernardino County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 6.39%
Avg. Gross Rent Multiplier: 9.63
4
Closed Sales Last Week
48
Closed Sales - Average Days on Market
$757,000
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
1
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

14
New Listings Last Week
17
Months of Inventory
122
Total Number of Active Listings
$287,638,625
Active Listings, Dollar Volume
4
Active Under Contract Last Week
8
Pending Listings Last Week
5
Expired Listings Last Week

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