25 Jun Multifamily Sales Report for Encinitas, Cardiff, Solana Beach, Del Mar

Multifamily Sales Report for Encinitas, Cardiff, Solana Beach, Del Mar

Sales volume is yet to hit the 2007 peak of just under $60,000,000 for multifamily sales in the prime coastal cities of Encinitas, Cardiff, Solana Beach and Del Mar where only a few apartment building sell every year. Sales volume bottomed out in 2012 with about $9,000,000 in total multifamily sales volume and has slowly increased just over $20,000,000 for 2017 with 2018 already at $20,000,000 for this region.

The average sales price per unit for multifamily sales in Encinitas, Cardiff, Solana Beach and Del Mar was at $270,000 average sales price per unit in 2007 which bottomed out in 2011 at about $195,000 average sales price per unit; $270,000 sales price per unit in 2015, $330,000 sales price per unit in 2017 and $350,000 so far for 2018.

Multifamily cap rates in Encinitas, Cardiff, Solana Beach and Del Mar was 4.25% in 2007, bottomed out in 2011 at 5.5% and slowly decreased from 5% in 2013, 4% in 2015 and 3% in 2017.

Multifamily rents in Encinitas, Cardiff, Solana Beach and Del Mar have been on a steady incline since 2007 with 3 bedrooms starting at $1,700 in 2007 and $2,600 for 2018; two beds $1,600 in 2007 to $2,200 for 2018; one beds at $1,200 in 2007 and $1,600 in 2018 and studios hovering in the $1,000 range from 2007 on to 2018.

Contact Eric today for an evaluation for you multifamily apartment building.

Eric von Bluecher
Beachbreak Investments Inc.
858-771-2559 office
eric@sdmultifamily.com
12780 High Bluff Dr #130, San Diego, CA 92130
DRE# 01926201
KW Commercial
www.BeachbreakInvestments.com