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New apartments and condominiums drove building permits up 8% in April from the prior month, to their fastest pace in nearly six years, the Commerce Department reported Friday. Housing starts, which measures the launch of construction climbed 13.2%

 

Most of the growth came in multifamily building, which is now back pre-recession levels and up 15% through the first four months of the year compared with the same period last year, even as permits for single family homes remain sluggish.

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Last modified on Tuesday, 29 July 2014 00:15
Thursday, 17 July 2014 23:25

Market Watch - July 2014

In light of the current tragic events causing geo-political turmoil, interest rates have surged downward, with the 10-year Treasury hitting a seven week low and testing the 52-week low of 2.40%. Prudent investors will move quickly to capitalize on this opportunity as they would be hard pressed to find a more attractive interest rate environment. Foreign funds continue to pour in and the cap rates continue to drop. The wise investors are capitalizing on the difference in cap rate on multifamily vs single tenant assets.

 

By: Gill Figueroa, First Commercial Capital

Last modified on Wednesday, 20 August 2014 23:01

 

Can you benefit from these Buyers' immediate investment needs?

 

EXCHANGE CRITERIA - BUYER #1

  • Product Type: Apartment Buildings
  • Value Range: $2.8M to $3.9M
  • Locations: A & B areas preferred
  • Markets: West L.A. & Prime San Fernando Valley

 

EXCHANGE CRITERIA - BUYER #2

  • Product Type: Apartment Buildings
  • Value Range: $3.5M to $12M (willing to buy multiple buildings)
  • Locations: A & B areas preferred
  • Markets: West L.A. & Prime San Fernando Valley

 

The ABT Team at KW Commercial is currently working with 1031 Exchange Buyers with immediate needs for purchasing apartment buildings in the locations and per the specifications listed above. Our qualified Buyers can move quickly and professionally through the purchase process.

 

Our team is a full service team that will manage your needs and the escrow effectively.

 

If you have a property in your portfolio that you would like to achieve excellent price and terms for in today's market, please call or email me immediately. We cooperate with principles and brokers. Time is of the essence as these Buyers are on the clock and need to move on a property quickly!

Last modified on Friday, 11 July 2014 17:30
Tuesday, 17 June 2014 17:42

Market Watch - June 2014

The improvement in unemployment numbers and retail and office space vacancies bear a striking correlation, with vacancies down nearly 2%. Despite geo-political issues, the bond market has also reacted accordingly to favorable employment data. The 10 year Treasury is up 20 basis points, an almost 10% increase from a low of 2.43 on May 27th, 2014.

 

Global economies' GDP outlook has weakened, bringing a significant flow of foreign capital to our shores. The time to invest is now, as the combination of demand and low interest rates is a powerful yet uncommon development.

 

By: Gill Figueroa, First Commercial Capital

Last modified on Wednesday, 20 August 2014 23:01

Question: Is it true that I have to pay interest on my security deposit for the City of Los Angeles? If that is true, what is the amount I have to pay?

 

Answer: For rent control units in the City of Los Angeles, interest needs to be paid on a yearly basis for any security deposit being held. The amount of interest this year is 0.15%. It should be noted that landlords can charge their tenants $3.61 per month for reimbursement fees relating to the Systematic Code Enforcement Program. A notice regarding this fee must be sent to the tenant each year.

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Last modified on Saturday, 07 June 2014 01:43

According to the Mortgage Bankers Association's (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Origination's, first quarter 2014 commercial and multifamily mortgage loan origination's were 1% lower than during the same period last year and 45% lower than the fourth quarter of 2013.

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Last modified on Saturday, 07 June 2014 01:39
Saturday, 07 June 2014 01:34

MF Rent Growth Hits Post-Recession Peak

DALLAS - Effective rent growth in US multifamily year to date is the best since the nation's economy began recovering from the Great Recession, locally based Axiometrics said Tuesday. Effective rent growth rose to 3.4% in April, up from 3.1% the previous month and 3.2% year over year. The research firm credited increased occupancy and burgeoning job growth with giving apartment landlords the impetus to raise rents.

 

Apartment occupancy increased last month to 94.8%, a 60-basis-point rise since 2014 began. At the same time, job growth was 1.6% in March, while the national unemployment rate dropped to 6.3% in April. Accordingly, more people sought housing in what is already a landlord's market, Axiometrics says.

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Last modified on Saturday, 07 June 2014 01:35
Tuesday, 20 May 2014 22:13

Market Watch - May 2014

The barrage of negative news looming over the geopolitical landscape continues to spur new lows on treasury yields.  The question is how long before rates rise?

 

The United States unemployment claims have hit a 7 year low, with the trend in consumer spending heading in the positive direction. Investors should capitalize on the current interest rate environment and reap the rewards of the lowest recorded rates before they become "history."

 

By: Gill Figueroa, First Commercial Capital

Last modified on Wednesday, 20 August 2014 23:01

matthewWe're proud to announce that Mathew Freedman is officially part of the AptBldgTrader Team! With over 10 years of commercial real estate experience, Matt puts his dedicated work ethic to use in seeking the right kinds of investment opportunities to suit our clients' specific needs.

 

He's also the co-founder of CurbStreet, a state-of-the-art and user-friendly web-based commercial real estate marketing and analysis software (launching soon)! We're excited to have him on board and are looking forward to building on our successes together for many years to come as our team continues to grow!

 

Check out Matt's profile on our website, and make sure to follow Aptbldgtrader on Twitter for the latest news and updates!

 

Thank You!

Raymond A. Rodriguez and the AptBldgTrader Team

Last modified on Friday, 16 May 2014 19:51

Closing Summary

Within two days of listing The Eldorado apartment building in North Hollywood, we put it under contract and sold it at 98.7% of list price!

 

Many thanks to Graeme for trusting in our AptBldgTrader Team to exclusively represent him in the sale of his apartment building, and to Mark for allowing us to represent him in the purchase of this great property. Also, a huge thank you to Carey LaSalle, a Keller Williams Estate specialist, who engaged our Team to co-list the property and leverage our service and expertise in multifamily assets to benefit both seller and buyer.

 

We're so happy to have helped Graeme take action toward affecting his 1031 exchange, and to have assisted Mark in expanding his investment portfolio in the San Fernando Valley.

Property Highlights

Excellent unit mixes all with balconies or patios | Excellent CPU | onsite laundry and gated parking lot | Adjacent to NoHo Arts District | Well-maintained building w/manicured grounds

Thinking of selling?

Call us to sell your apartment building! 

From fast, direct offers from motivated and qualified buyers, to detailed listing and marketing proposals, we provide customized solutions to suit your precise needs.

We take a professional, full-service approach in representing you in the sale of your property, and we look forward to earning your business!

Last modified on Monday, 11 August 2014 23:10
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