Source Article Courtesy of CoStar Prices have been rising the fastest we've seen in over 40 years. The consumer price index rose by 8.3% over the last 12 months (peaking at 8.5% in March). To try to combat this, the Federal Reserve raised interest rates by a quarter-point in March and another half-point increase in May (the largest increase in 22...
Article Source Courtesy of CoStar Rents for San Diego Multifamily have risen 13.5% in the last 12 months in the San Diego Multifamily apartment market. But when adjusting for inflation, which was up 8.2% this year (and 7.9% in San Diego itself), the San Diego Multifamily rent growth rate is currently at 3.5% and is set to be at just under...
April2022-newsletter Lee & Associates - North San Diego County Commercial Real Estate Newsletter...
Lee & Associates - North San Diego County Commercial Real Estate Newsletter March 2022 Newsletter...
245-255 Woodlawn Ave, Chula Vista, CA 91910 [caption id="attachment_17535" align="alignnone" width="644"] Renovated Kitchen in Chula Vista Apartment[/caption] [caption id="attachment_17536" align="alignnone" width="681"] Renovated Bathroom in Chula Vista Apartment[/caption] [caption id="attachment_17537" align="alignnone" width="696"] Renovated Bedroom in Chula Vista Apartment[/caption] [caption id="attachment_17538" align="alignnone" width="638"] Renovated Living room in Chula Vista Apartment[/caption] 1 Bed + 1 Bath = $1700 576 SF Unit Mix: 152 = 1 Bed + 1 Bath 3 = 2...
Chula Vista Eviction Moratorium Update 3/21/2022 While there hasn’t been an eviction tsunami for San Diego Apartment Buildings and Chula Vista Apartment Buildings, many claim otherwise and have made organized efforts to push for additional multifamily tenant protections, as well as a new eviction moratorium in Chula Vista and Chula Vista Apartment Buildings. Activists have been using the council meetings to put...
[caption id="attachment_17509" align="aligncenter" width="670"] 260-280 W. Park Villa Photo courtesy of Lee & Associates[/caption] An El Cajon apartment complex has been sold for $9 million. The 38-unit complex at 260-280 W. Park Villa was acquired by Park Villa Community Partners, LP from the Ivicevic Trust. The property has 16, two-bedroom, one-bathroom apartments, 16, one-bedroom, one-bathroom apartments, and six studio apartments. It also has 31...
[caption id="attachment_17338" align="aligncenter" width="670"] 4775 Wilson Ave. Photo courtesy of ACI Apartments[/caption] A Normal Heights apartment complex has been sold for nearly $2.6 million. The property at 4775 Wilson Ave. was sold by the Mincks Family Trust 08-08-00. The buyer was 4775 Wilson, LLC. The 4,900 square-foot complex was built on a 6,252 square-foot lot. It has six one-bedroom, one-bathroom apartments, and one two-bedroom, one-bathroom...
Lee & Associates – North San Diego County’s Multifamily Advisory Group Completes Sale of 7-Unit Property in San Diego, CA December 17, 2021 - San Diego, CA – Eric von Bluecher, with Lee & Associates-North San Diego County’s Multifamily Advisory Group, has completed the investment sale of a 7-unit multifamily building at 4775 Wilson Avenue in San Diego, CA. The building...
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[caption id="attachment_17329" align="aligncenter" width="533"] 3833 Jewell St. Photo courtesy of Lee & Associates[/caption] A Crown Point apartment complex has been sold for nearly $8.1 million. SK 4 Nationwide, LP bought the property at 3833 Jewell St. The complex has 19 apartments. The seller was Riviera Jewell Apartments, LLC. Eric von Bluecher, of Lee & Associates North San Diego County’s Multifamily Advisory Group represented the buyer...
The San Diego apartment market continues to be on fire with multiple offers on each appropriately priced multifamily offering. Cap rates below 4% are becoming a reality. Rents are continuing to rise, vacancies are declining, and the number of units available is shrinking. Vacancies are at 2.4%, rent growth is at 12.8% across the board where newer buildings increased in...
Eric von Bluecher selected as a 2021 40 Next Top Business Leaders Under 40 Awards, https://www.sdbj.com/2021_40_Under_40_Awards/ SDBJ_-_40_Next_Top_Business_Leader_Under_40_2021_-_Finalist_SectionDownload . ...
Closing Announcement – Eric von Bluecher of Lee & Associates Multifamily Advisory Group North SD just closed 5 units in Los Angeles representing the buyer. For more information contact Eric von Bluecher 760-929-7846 ...