So Cal Multifamily Sales Pulse - October 22, 2023 - October 28, 2023

  • 29 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

What Apartment Rent Growth Will Look
Like in 2024 According to One Economist
Soft Landing Still Possible
for U.S. Economy: Moody’s
Waiting Capital Could Put a
Floor Under Distressed Sales
California Leads U.S.
For Housing Shortfall 
MBA Forecasts 46% Decline In Commercial And Multifamily Mortgage Activity For 2023
NMHC: Apartment Sales
Continue Pulling Back  
Multifamily Strategies
For Challenging Times
The Fed Says CRE
Valuations Are Still Elevated
When the Economy Says Jump,
How High Will Interest Rates Go?
U.S. Commercial Real Estate
Debt Grew 5.9% in Q2
California House Payments Jump 127%
In Pandemic Era With Rates At 23-Year High
Apartment Rents Decline
for Fifth Consecutive Month
16.3% Of Home Purchase Agreements
Were Canceled In September
MBA Predicts 46% Slump
in CRE Lending This Year
New CRE Loan Production
Seen Increasing into Q4
Investors Weigh Debt and
Equity Amid Uncertainty
Americans Are Struggling To Pay
Their Debts As Economy Tightens
Multifamily's Sudden
Jump in Maturity Defaults
Multifamily Conditions Continue
to Weaken, Survey Shows
CRE Loan Delinquencies Post Four
Consecutive Quarters of Increases
Stages of Asset Distress
Commercial-Property Distress
in the US Rises to a 10-Year High
Bridge Lending Becomes Stopgap
Until Capital Markets Improve
LA Rents Have Been Frozen Since Early 2020. Some Council Members Want Another Six-Month Pause
Big GDP Growth in Q3. So
What’s the Fed Going To Do?
Mortgage Application
Activity Continues To Slump
Fed’s Interest Rate Decisions 'Destroyed' Commercial Real Estate Market, Expert Warns
12 Spooky Bodies Haunting
California’s Housing Market

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

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Orange County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.44%
Avg. Gross Rent Multiplier: 14.74
8
Closed Sales Last Week
30
Closed Sales - Average Days on Market
$1,488,750
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
5
Financed Transactions Last Week
3
All Cash Transactions Last Week
7
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

16
New Listings Last Week
8
Months of Inventory
201
Total Number of Active Listings
$779,901,413
Active Listings, Dollar Volume
8
Active Under Contract Last Week
1
Pending Listings Last Week
1
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

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Long Beach Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.64%
Avg. Gross Rent Multiplier: 14.17
6
Closed Sales Last Week
27
Closed Sales - Average Days on Market
$1,570,833
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
2
All Cash Transactions Last Week
5
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

6
New Listings Last Week
8
Months of Inventory
130
Total Number of Active Listings
$314,844,697
Active Listings, Dollar Volume
1
Active Under Contract Last Week
2
Pending Listings Last Week
2
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
56
Closed Sales Last Week
40
Closed Sales - Average Days on Market
$1,341,152
Closed Sales - Average Sales Price
25
Transactions Sold At or Above Asking Price
40
2-4 Unit Transactions Last Week
16
5+ Unit Transactions Last Week

111
New Listings Last Week
24
Months of Inventory
2,053
Total Number of Active Listings
$13,088,948,076
Active Listings, Dollar Volume
31
Active Under Contract Last Week
21
Pending Listings Last Week
23
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
15
Closed Sales Last Week
50
Closed Sales - Average Days on Market
$1,472,933
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
12
Financed Transactions Last Week
3
All Cash Transactions Last Week
14
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

18
New Listings Last Week
8
Months of Inventory
216
Total Number of Active Listings
$86,232,847
Active Listings, Dollar Volume
1
Active Under Contract Last Week
13
Pending Listings Last Week
7
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
2
Closed Sales Last Week
6
Closed Sales - Average Days on Market
$625,000
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
2
Financed Transactions Last Week
0
All Cash Transactions Last Week
2
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

11
New Listings Last Week
16
Months of Inventory
114
Total Number of Active Listings
$388,166,195
Active Listings, Dollar Volume
1
Active Under Contract Last Week
0
Pending Listings Last Week
0
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
8
Closed Sales Last Week
40
Closed Sales - Average Days on Market
$661,250
Closed Sales - Average Sales Price
3
Transactions Sold At or Above Asking Price
6
Financed Transactions Last Week
2
All Cash Transactions Last Week
7
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

8
New Listings Last Week
17
Months of Inventory
131
Total Number of Active Listings
$275,158,788
Active Listings, Dollar Volume
4
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 San Bernardino

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