King Real Estate Group of Marcus & Millichap

The National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions this month showed overall optimism in the sector. But roughly a quarter of all respondents to the NHMC survey indicated they hadn’t received any rent relief funds, adding to the angst over the program’s lackluster rollout since its inclusion in the last round of federal stimulus. To read more about the issues multifamily owners have faced with relief funds, click here: https://bit.ly/3gmbCfz.

TD Ameritrade recently featured Marcus & Millichap CEO Hessam Nadji. He discussed the post-pandemic recovery range or CRE investment options, real estate risk/reward, current migration patterns, and the investment strategy of forward-looking investors. To read the Special Report in full, click here: https://bit.ly/32jZi7h.

Sale Price - $5,450,000 Units - 13 Units Cap Rate - 4.11% Price Per Square Foot - $586.91 ... The King Group of Marcus & Millichap’s featured property of the week is a 13-unit multifamily property. Built in 1927, the subject property consists of 9,286 rentable square feet spread throughout a 9,226 square foot lot. The building consists of six studio units, six 1-bedroom / 1-bathroom units, and one 2-bedroom / 1-bathroom unit. It contains five motorized garages and numerous private and communal patios for tenants. Owners enjoy the high demand for rentals in a coastal city of Southern California. For more information on this listing, please contact Kevin King at (562) 972-1050 or Kyle Blair at (562) 708-1615. For a complimentary property valuation, click here: https://bit.ly/3mEXzlY. See more

Average multifamily rents rose by $6 to $1,407 on a year-over-year (YOY) basis in March, according to Yardi Matrix. With the 0.6% YOY and 0.8% quarter-over-quarter jump, multifamily rents had one of the strongest first quarters in a few years, according to Yardi. Additionally, rents posted a 0.4% month-over-month growth in March, rising 20 basis points from February. To learn more about the positive growth that the multifamily industry saw in Q1, click here: https://bit.ly/3uJTv7j. #thekinggroup #marcusmillichap #longbeach #california #commercialrealestate #CRE #economy #multifamily #Q1 #rentgrowth #Yardi

Marcus & Millichap recently released a Special Report covering the American Rescue Plan. The American Rescue Plan touches all parts of the economy. The $1.9 trillion spending bill includes funding for individuals, states and schools. Other resources are being made available for companies and to support vaccine distribution in the coming months. To read the Special Report in full, click here: https://bit.ly/3uzKfCE.

The King Group of Marcus & Millichap wishes you and your family a joyful holiday season!

While vacancy rates have increased this year, they are still well below the long-term average of 5.2% to 5.4%. Apartment occupancy has remained stable for two reasons: the relatively low COVID-19 fatality rates and eviction moratoriums. To read about 2021 rental payment predictions, click here: https://bit.ly/3nEI0uK.

The last of the supports from the CARES Act are winding down, including an extension of state-level unemployment benefits that will expire at the end of this year. Furthermore, several major cities have ordered businesses to temporarily shutter or reduce capacity. As a result, core retail sales declined 0.8 percent in November, marking the second consecutive monthly decline. To read more about the implications across the CRE industry, click here: http://bit.ly/34nc1Yw.

The King Group of Marcus & Millichap is pleased to present 342 E 99th Street, a 4-unit multi-family community located in the Green Meadows neighborhood of South Los Angeles, CA. A short 15 minute drive to Downtown Los Angeles and centrally located near 2 major freeways, the subject property gives tenants convenient access to the 105 and110 Freeways. The property was built in 1965 and is comprised of approximately 2,988 rentable square feet on a 5,085 square foot lot. The bui...lding has an outstanding unit mix, comprising entirely of spacious 2 bedroom 1 bathroom units. There is one vacant unit that LA City Section 8 Housing will pay $2,263 for, allowing an investor to achieve market rent for that unit. The property is separately metered for gas and electricity, features ample secured parking, and the tenants benefit from their own washer and dryer hookups inside each unit. List Price - $875,000 Number of Units - 4 Cap Rate - 5.76% For more information please contact Kevin King (562) 972-1050 or Ryan Gonzalez (562) 879-3206. For a complimentary property valuation, click here: https://bit.ly/3mEXzlY. See more

As the pandemic continues to affect our daily lives, there is some positive news emerging in the CRE industry. Commercial property prices have continued to inch up. Apartments and industrial have increased by 2% in the last month. Apartments are down 5% from before Covid-19, while industrial has risen 8%. The industry is starting to stabilize in several sectors which is a promising sign for the economy. To read more about the economic uptick, click here: https://bit.ly/3lO6lMN.

The King Group of Marcus & Millichap is pleased to present a turnkey 7-unit apartment building located in the Pier Bowl in San Clemente, California. Built in 1960, the subject property consists of 5,543 rentable square feet spread throughout a 6,474 square foot lot. There are seven 2-bedroom / 1-bathroom units with one unit having an accessory office. It has an elevated foundation and contains tuck under parking. Owners enjoy the high demand for rentals in a coastal beach cit...y of Southern California. Tenants enjoy living close to the ocean and in between Downtown San Clemente and the San Clemente Pier where there are many shops, restaurants, cafes, and entertainment venues. The city of San Clemente continues to progress forward and as the southernmost city of Orange County, is known for its ability to attract renters due to its high quality of life. This is an excellent opportunity to acquire a turnkey property in the highly desirable Pier Bowl of San Clemente, California. List Price - $4,000,000 Number of Units - 7 Price Per Unit - $571,429 For more information please contact Kevin King (562) 972-1050 or Kyle Blair (562) 708-1615. For a complimentary property valuation, click here: https://bit.ly/3mEXzlY. See more

With just one day until the 2020 Election, there is a lot on the line for the nation as a whole. When it comes to the Commercial Real Estate sector and the economy, President Trump and former Vice President Biden have wildly different economic agendas. To read more about their differing agendas, click here: https://bit.ly/2Jvsour.

The housing market has shown unexpected resiliency through the pandemic. Home sales and residential construction picked up soon after stay-at-home orders were lifted in the spring, providing a boost to local economies. Spending more time at home during the lockdown encouraged many households to reevaluate their living arrangements. These factors contributed to a rise in home renovations, residential construction and housing sales. To read the Marcus & Millichap Special Report, click here: https://bit.ly/2Jeg1CI.

The King Group of Marcus and Millichap is pleased to present a completely turn-key apartment building located at 6107 Linden Avenue in Long Beach, California. Built in 1959, the subject property consists of 6,450 rentable square feet spread throughout a 6,500 square foot lot. Eight units are 2 bedroom / 1 bathroom units and one unit is 3 bedroom / 2 bathroom. Unit Upgrades include new floors, windows, blinds, granite counter tops with stainless steel sinks, brushed nickel sto...ve/oven and new ceiling fans. There are 6 garages and storage for tenant convenience and can also be used to generate income for the owner. It has a pitched roof and is also separately metered for gas and electricity which helps keep expenses to a minimum. There is also a laundry room which makes additional income. List Price - $2,450,000 Number of Units - 9 Cap Rate - 4.74% For a complimentary property valuation, click here: https://bit.ly/3mEXzlY. See more

Early on in the COVID-19 pandemic, many observers had dire predictions about what would happen with apartment rents. Now, there are many questions as to what will transpire when the government aid no longer exists. Though many are confident that policymakers will realize apartment owners need help just as much as tenants do. To read more about the coming challenges, click here: https://bit.ly/35v8pDo.

As we get closer to election day, we have seen a plethora of changes to this election season due to the pandemic. Marcus & Millichap released a Special Report detailing one critical, possible change to the multifamily market known as Prop 21. This will in essence alter how rents are adjusted during tenant turnover - which may be on the rise soon due to Covid 19. To read the report, click here: https://bit.ly/34nLgUb.

The King Group of Marcus and Millichap is pleased to announce the closing of 1545-1547 W Cowles Avenue, a 9,600 square foot warehouse building - a concrete tilt up structure with a wood framed roof structure. The building enjoys high ceiling heights with minimum metal structural posts and no interior improvements for maxim manufacturing capabilities. Also existing are five large ground level "Roll-Up". Two each are located in the front and Alley of the Building and a fifth i...s located facing the adjacent parking area. The 5,000 square foot (40 ft. x 125 ft.) parking lot enjoys concrete block wall with a metal structured rolling gate entrance. The Property is zoned LBIG and located near the Ports of Long Beach and Los Angeles as well as the Interstate (710), (105) and (405) Freeways. Sale Price - $2,700,000 Square Feet - 9,600 SF For a complimentary property valuation, click here: https://bit.ly/3mEXzlY. See more

As we get closer to election day, Prop 21 has created a disturbance in the CRE sector. The initiative would give local governments the power to place rent control restrictions on housing that was first occupied 15 years ago. Like previous rent control initiatives, the industry is fighting hard against it. To read more about this ballot initiative, click here: https://bit.ly/37jC8l8.

CNBC recently featured an interview with Marcus & Millichap CEO Hessam Nadji detailing how the health crisis has transformed real estate. They discussed topics such as the acceleration of suburban revival of apartments and offices, certain commercial real estate sectors outpacing others, and why urban markets will make an eventual comeback. To watch the short interview, click here: https://bit.ly/3k88djq.

The King Group of Marcus & Millichap is pleased to present new pricing of a 13-unit apartment building located in Long Beach, California. Built in 1962, the subject property consists of 7,742 rentable square feet spread throughout a 7,313 square foot lot. The unit mix consists of ten 1-bedroom / 1-bathroom units and three 2-bedroom / 1-bathroom units. It has a pitched roof and contains nine garages. Owners enjoy the high demand for rentals in a coastal city of Southern Califo...rnia. Tenants enjoy living between Bixby Knolls and Lakewood where there are many shops, restaurants, cafes, entertainment venues and grocery stores. List Price - $3,895,000 Units - 13 Units Cap Rate - 4.41% C/C Return - 6% For more information, contact Kevin King at (562) 972 - 1050, or Kyle Blairn at (562) 257 - 1259. #thekinggroup #marcusmillichap #longbeach #losangeles #bixbyknolls #caprate #california #justreduced #pricereduction #newpricing #commercialrealestate #SoCal #multifamily #orangecounty

As the pandemic has shaped many facets of our economy, we have started to see the eviction stats roll in - and they are much different than initially projected. Americans will likely experience a record low number of evictions in 2020. Eviction filings since COVID-19 hit in mid-March have plunged 67% from normal levels in the 17 markets. To read about the data uncovered, click here: https://bit.ly/370CU6u.

Marcus & Millichap has released a research brief detailing the current employment trends due to the ongoing pandemic in the United States. Employers added 661,000 personnel to payrolls in September, restoring 11.4 million of the 22.2 million positions lost in March and April. Despite these gains, last month’s total of under 1 million new roles continued the recent trend of slowing growth. To read the Research Brief, click here: https://bit.ly/3iGToTH.

825 East Ocean Blvd is a beautiful turn-key asset located on the corner of Alamitos Ave. and Ocean Blvd. It was built in 1922 and consists of 3,750 rentable square feet spread throughout a 4,071 square foot lot. There is one studio unit, one 1 bedroom / 1 bathroom unit and two 2 bedroom / 2 bathroom units. The property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are also two garages and ocean views in some units. ... List Price - $1,895,000 Units - 4 Units Cap Rate - 3.68% 650 Park Avenue is a completely turn-key property located in Alamitos Heights right next to Recreational Park which is a very quiet residential neighborhood. The subject property consists of 2,729 rentable square feet spread throughout a 5,384 square foot lot. There is one studio unit and three 1 bedroom / 1 bathroom units. The property is also separately metered for gas and electricity and there are two garages on site. List Price - $1,895,000 Units - 4 Units Cap Rate - 3.90% For more information, contact Kevin King at (562) 972 - 1050, or Arnie Suttipreechanun at (562) 303 - 3734.