So Cal Multifamily Sales Pulse - October 15, 2023 - October 21, 2023

  • 22 October 2023
  • Mike Lembeck

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

Californians Have 4th-Highest
Housing Expenses In US
Philadelphia Fed Chief: ‘We Can Hold Rates Where They Are’
Settling into a Slowcession: How Lagging Growth Will Impact Multifamily Investment
'Enormous' Amount of Capital on Sidelines Means Now Is Time to Buy Multifamily
Fannie Mae Forecasts Toll on
Economy from Increasing Interest Rates
MBA, NAR, NAHB Call
For Halt to Fed Rate Hikes
Navigating Market Challenges,
Seeking a 'Soft Landing'
MBA Predicts Increased Mortgage Origination, Mild Recession In 2024
Homebuyers Need To Earn $114,627
To Afford A Median-Priced Home
Distressed CRE Reaches Ten-Year High
CRE Distress Reaches
Highest Level Since 2013
Multifamily Remains a ‘Favored Nation’ CRE Asset Class
Rising Interest Rates, Economic Uncertainty Fuel Single-Family Opportunities
Commercial Property Distress
Rises To 10-Year High
What's Keeping $300B in
CRE Cash on the Sidelines
Single-Family Rent Commands
40% of Residents’ Income
MBA Forecasts 46% Drop in
CRE Mortgage Volume for 2023 
Builder Confidence Grows Increasingly Pessimistic
Mortgage Rates Surge Higher (Again)
CRE Experts Say “Not So Fast” to
Doom-and-Gloom Office Headlines
Accelerating Economic Slowdown Likely
Multifamily Market Could
Be on the Cusp of Stabilizing

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

Click Links below to view the Orange County
Closed Sales from last week

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
8
Closed Sales Last Week
44
Closed Sales - Average Days on Market
$2,089,188
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
4
All Cash Transactions Last Week
6
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

8
New Listings Last Week
8
Months of Inventory
196
Total Number of Active Listings
$766,637,535
Active Listings, Dollar Volume
9
Active Under Contract Last Week
7
Pending Listings Last Week
11
Expired Listings Last Week
Looking For A Bargain?
Click Here and We’ll Send You The Best Deal in Orange County

Long Beach

Click Links below to view the Long Beach
Closed Sales from last week

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Long Beach Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.64%
Avg. Gross Rent Multiplier: 14.17
5
Closed Sales Last Week
36
Closed Sales - Average Days on Market
$1,199,800
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
3
Financed Transactions Last Week
2
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

9
New Listings Last Week
8
Months of Inventory
125
Total Number of Active Listings
$314,203,897
Active Listings, Dollar Volume
2
Active Under Contract Last Week
3
Pending Listings Last Week
0
Expired Listings Last Week
Looking For A Bargain?
Click Here and We’ll Send You The Best Deal in Long Beach

Los Angeles County

Click Links below to view the Los Angeles County
Closed Sales from last week

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Los Angeles County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.64%
Avg. Gross Rent Multiplier: 14.17
67
Closed Sales Last Week
39
Closed Sales - Average Days on Market
$1,452,201
Closed Sales - Average Sales Price
23
Transactions Sold At or Above Asking Price
51
2-4 Unit Transactions Last Week
16
5+ Unit Transactions Last Week

110
New Listings Last Week
24
Months of Inventory
2,034
Total Number of Active Listings
$13,064,912,990
Active Listings, Dollar Volume
30
Active Under Contract Last Week
30
Pending Listings Last Week
36
Expired Listings Last Week
Looking For A Bargain?
Click Here and We’ll Send You The Best Deal in Los Angeles

San Diego County

Click Links below to view the San Diego County
Closed Sales from last week

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

San Diego County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.66%
Avg. Gross Rent Multiplier: 14.43
10
Closed Sales Last Week
34
Closed Sales - Average Days on Market
1,806,389
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
8
Financed Transactions Last Week
2
All Cash Transactions Last Week
8
2-4 Unit Transactions Last Week
2
5+ Unit Transactions Last Week

22
New Listings Last Week
8
Months of Inventory
212
Total Number of Active Listings
$84,984,847
Active Listings, Dollar Volume
0
Active Under Contract Last Week
10
Pending Listings Last Week
9
Expired Listings Last Week
Looking For A Bargain?
Click Here and We’ll Send You The Best Deal in San Diego

Riverside County

Click Links below to view the Riverside County
Closed Sales from last week

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

Riverside County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 5.6%
Avg. Gross Rent Multiplier: 12.09
7
Closed Sales Last Week
51
Closed Sales - Average Days on Market
$619,714
Closed Sales - Average Sales Price
4
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
2
All Cash Transactions Last Week
6
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

5
New Listings Last Week
16
Months of Inventory
103
Total Number of Active Listings
$388,220,195
Active Listings, Dollar Volume
2
Active Under Contract Last Week
4
Pending Listings Last Week
1
Expired Listings Last Week
Looking For A Bargain?
Click Here and We’ll Send You The Best Deal in Riverside

San Bernardino County

Click Links below to view the San Bernardino County
Closed Sales from last week

Live MLS Link expires in 30 days after published

Live MLS Link PDF Link

San Bernardino County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 6.39%
Avg. Gross Rent Multiplier: 9.63
3
Closed Sales Last Week
22
Closed Sales - Average Days on Market
$689,667
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
0
Financed Transactions Last Week
3
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

11
New Listings Last Week
17
Months of Inventory
133
Total Number of Active Listings
$271,535,588
Active Listings, Dollar Volume
2
Active Under Contract Last Week
4
Pending Listings Last Week
2
Expired Listings Last Week
Looking For A Bargain?
Click Here and We’ll Send You The Best Deal in San Bernardino

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