So Cal Multifamily Sales Pulse - September 22, 2024 - September 28, 2024

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

After the Fed’s Big Move on Interest Rates, What’s Next?
The 50-basis-point rate cut announced by the Federal Reserve could be followed by more cuts in the months to come.

Newsom Signs Bills Impacting Renters' Security Deposits, Credit Scores And More
The California Apartment Association says these bills will help renters and rental property owners.

Can Fed Fix The California Housing Market It Crashed?
Typical California buyer gets a $4,540 monthly payment – 63% above March 2022 when tight money began.

There’s A Lot To Unpack With Rate Cuts And CRE
With the Fed’s next opportunity to continue reducing the effective federal funds rate occurring in November, it’s clear that this 50-basis-point cut was only the first step. 

Research Points To The Downsides Of Rent Control
A new review of over 100 studies shows a variety of negative impacts around policies that regulate rent.

‘A Sea Change In Optimism’: Real Estate Reacts To First Interest Rate Cut In 4 Years

Retail CMBS Loans Behind On Payments Recede Further
Low vacancy helps the sector’s progress
Fed Officials Hint At More Aggressive Rate Cuts in Coming Months
However, either a recession or stirred-up inflation aren't impossible, complicated any decisions.

CRE Daily Fear and Greed Index: The Worst is Over
38% of investors believe asset values have already bottomed out, while 18% expect the market to bottom before EOY.

Coverage Shrinks, Premiums Skyrocket As Wildfire Risk Hits OC Multifamily Complex
At Laguna Village, insurance costs double while damage benefits drop 98%

‘Trying To Hang On’: Multifamily Roller Coaster Rides On After Rate Cut
There’s a sense of optimism in the multifamily sector following the long-awaited cut, but there is also belief that reckonings are still on the horizon.

Bloomberg: CRE Sales Market Coming Back to Life
With pricing down 19% from its 2022 peak, the U.S. commercial real estate sales market is starting to come back to life.

Jamie Dimon Is Still a Skeptic on the Economy
He said geopolitics is a bigger issue than most people are considering.
Moody's Might Downgrade US Credit After the Election
It's not just getting a budget but starting to manage deficits and ultimately the public debt.
What Will Be the Biggest 2025 CRE Trend?
With 2024 coming soon to a close, the CPE Executive Council predicts what to watch out for in the coming year.
New California Law Gives Tenants More Time To Respond To Eviction Notices
Assembly Bill 2347 doubles the time to respond from 5 to 10 business days.
Orange County Apartment Rents Rise Modestly Through Summer Leasing Season
Mid- and low-quality apartments lead rent growth in the California region.
California Housing To See Stronger Sales, Rising Prices In 2025, Realtors Forecast
Next year still will be the third-slowest since the Reagan administration, the California Association of Realtors predicted.
Rate Cuts Offer Little Relief for Overleveraged CRE Owners
Falling interest rates provide some relief, but many overleveraged commercial property owners still face losing their assets.
Housing Won't Be Affordable For Another Five Years, Goldman Sachs Says
Affordability is now the worst on record since the early 1980s.


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
11
Closed Sales Last Week
42
Closed Sales - Average Days on Market
$2,169,727
Closed Sales - Average Sales Price
4
Transactions Sold At or Above Asking Price
8
Financed Transactions Last Week
3
All Cash Transactions Last Week
10
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

14
New Listings Last Week
6
Months of Inventory
269
Total Number of Active Listings
$1,002,460,659
Active Listings, Dollar Volume
9
Active Under Contract Last Week
3
Pending Listings Last Week
0
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: 14.16
4
Closed Sales Last Week
70
Closed Sales - Average Days on Market
$1,425,250
Closed Sales - Average Sales Price
1
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
0
All Cash Transactions Last Week
3
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

8
New Listings Last Week
7
Months of Inventory
172
Total Number of Active Listings
$473,880,684
Active Listings, Dollar Volume
3
Active Under Contract Last Week
6
Pending Listings Last Week
2
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: 14.16
50
Closed Sales Last Week
67
Closed Sales - Average Days on Market
$1,646,140
Closed Sales - Average Sales Price
13
Transactions Sold At or Above Asking Price
38
2-4 Unit Transactions Last Week
12
5+ Unit Transactions Last Week

118
New Listings Last Week
24
Months of Inventory
2,447
Total Number of Active Listings
$14,683,284,460
Active Listings, Dollar Volume
34
Active Under Contract Last Week
30
Pending Listings Last Week
34
Expired Listings Last Week

San Diego County

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Live MLS Link PDF Link

San Diego County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 4.65%
Avg. Gross Rent Multiplier: 14.41
9
Closed Sales Last Week
61
Closed Sales - Average Days on Market
$1,794,611
Closed Sales - Average Sales Price
0
Transactions Sold At or Above Asking Price
7
Financed Transactions Last Week
2
All Cash Transactions Last Week
8
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

21
New Listings Last Week
10
Months of Inventory
324
Total Number of Active Listings
$123,848,784
Active Listings, Dollar Volume
2
Active Under Contract Last Week
10
Pending Listings Last Week
6
Expired Listings Last Week

Riverside County

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Live MLS Link PDF Link

Riverside County Closed Sales - MikeLembeck.com

Avg. Cap Rate: 5.44%
Avg. Gross Rent Multiplier: 12.13
4
Closed Sales Last Week
25
Closed Sales - Average Days on Market
$648,000
Closed Sales - Average Sales Price
2
Transactions Sold At or Above Asking Price
4
Financed Transactions Last Week
0
All Cash Transactions Last Week
4
2-4 Unit Transactions Last Week
0
5+ Unit Transactions Last Week

6
New Listings Last Week
34
Months of Inventory
143
Total Number of Active Listings
$644,498,233
Active Listings, Dollar Volume
0
Active Under Contract Last Week
1
Pending Listings Last Week
0
Expired Listings Last Week

San Bernardino County

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
12
Closed Sales Last Week
44
Closed Sales - Average Days on Market
$612,500
Closed Sales - Average Sales Price
5
Transactions Sold At or Above Asking Price
10
Financed Transactions Last Week
2
All Cash Transactions Last Week
11
2-4 Unit Transactions Last Week
1
5+ Unit Transactions Last Week

12
New Listings Last Week
16
Months of Inventory
216
Total Number of Active Listings
$377,812,802
Active Listings, Dollar Volume
4
Active Under Contract Last Week
3
Pending Listings Last Week
1
Expired Listings Last Week

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