19 Jan 2017 Santa Monica Multifamily Sales Report

2017 Santa Monica Multifamily Sales Report

5-100 Units

For 2017, Santa Monica multifamily sales for units 5 to 100 units totaled:
– 42 total sales
– 488 total units sold
– $193,155,000 total sales volume
with a median
– cap rate of just above 3%,
– GRM hovering in the 19 range,
– price per unit at $416k and
– price per foot at $536.

When relating these numbers to the value of your building, it’s important to note important details such as: year built, legacy tenants, unit mix, parking, upside, etc.

For Santa Monica Multifamily 5-100 units, 2017 experienced the lowest median cap rates of 3.o7% versus 3.26% in 2016, 3.25% in 2015 and 3.7% in 2014.

For Santa Monica Multifamily 5-100 units, 2017 experienced the highest median GRM of 19.13 versus 18.4 in 2016, 17.68 in 2015 and 16.07 in 2014.

For Santa Monica Multifamily 5-100 units, 2017 experienced a slightly lower median price per unit of $416,667 versus $425k in 2016, $398k in 2015 and $349k in 2014.

For Santa Monica Multifamily 5-100 units, 2017 experienced the highest median price per foot of $536 versus $490 for 2016, $426 for 2015 and $409 for 2014.

For a detailed or simple analysis of your portfolio contact me at evonbluecher@concord-re.com with your rent roll or call 310-900-9505.