05 Sep San Diego County Multifamily Report – August 2023

San Diego County Multifamily Report – August 2023

Please see the links below to download the latest Monthly Multifamily Report for San Diego County. Sales volume looks to be trending towards the lowest volume since 2013/2014; price per unit is trending lower since it’s high in 2022 and cap rates are continuing their upward trend since their 2022 low. 5 and 10 year Treasury Rates are at 4.29% and 4.18%, we’ve been quoted anywhere from 6.8% to 7.5% on 5 and 10 year apartment loans recently, additionally we’ve seen multiple lenders using 1.25 DCR and 5% vacancy in select submarkets. According to CoStar, most deals are selling about 9% under their asking price for San Diego County. Vacancy has gone up from the low 3% to low 4% range. Rental rates have continued to increase to an average of $2,277 for San Diego County.

Click here to download the full San Diego Multifamily for August 2023.

Please contact us if we can assist with anything.

Eric von Bluecher
Principal
Lee & Associates | North San Diego County
D  760.929.7846
O  760.929.9700
evb@lee-associates.com
www.SDMultifamily.com 

Ivan Del Muro-Garcia
Associate
Lee & Associates | North San Diego County
D  760.448.2451
O  760.929.9700
idmg@lee-associates.com

Connor Macomber
Junior Associate
Lee & Associates | North San Diego County
D  760.448.1371
O  760.929.9700
cmacomber@lee-associates.com

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San Diego Multifamily Advisory Group
Corporate ID 01096996 | License ID 01926201
1902 Wright Place | Suite 180
Carlsbad, CA 92008