Posts

4 Hot Markets Where Multifamily Looks Great for Investors

The multifamily market is facing a transition time. Transaction volumes have dropped from a record setting 2016 as rent growth is softening and new projects are coming online. Opportunities still present themselves, however, care needs to be taken to ensure the financials of a potential purchase make sense. More than any time since the bubble burst in 2009, choosing the best market for your investment is key.

Read more from NAI Global

SF and Oakland Rents Down, Relative Premium Up

Following the trend we first noticed forming twelve months ago, asking rents for apartments in San Francisco and Oakland have dropped over the past year.

In fact, based on a comparison of nearly 3,000 listings, the weighted average asking rent for an apartment in San Francisco (including one-off rentals as well as units in larger developments) has dropped to around $4,100 a month, which is not only down around 3 percent over the past two months with typical seasonality in play, but also around 2 percent lower on a year-over-year basis and 8 percent below a peak in the fourth quarter of 2015.

Read more from SocketSite

More developers submit residential proposals in El Cerrito

More developers appear to be hungry to cash-in on the demand for apartments and condominiums near public transit on currently underused land in the city.

Three builders have submitted plans for three apartment complexes and an addition to an existing complex, that would add 248 units to the 596 apartments and condominiums that are being proposed or have been already approved.

Read more from East Bay Times

Hayward council rejects housing, retail project

HAYWARD — The fate of a dilapidated South Hayward strip mall is unclear after the City Council rejected plans to replace it with housing and retail.

The council unanimously turned down the proposal Oct. 3, citing parking concerns as well as a lack of affordable housing units, green building features and open space as reasons.

Read more from East Bay Times

Bay Area Industry Sentiment Study: Still Strong

In The Registry’s second edition of the commercial real estate industry survey conducted in partnership with Wendel, Rosen, Black & Dean LLP, they explored some of the same questions that they had about the state of the market in the Bay Area earlier in the year.

Read more from The Registry

 

NAI Northern California Represents $13M Sale of Aloha Apartments in Hayward

HAYWARD, CA – NAI Northern California, the Bay Area presence for NAI Global, the largest commercial real estate brokerage network in the world, is proud to announce the $13,175,000 sale of the Aloha Apartments in Hayward, CA.

NAI Northern California’s Vice President Shivu Srinivasan and Investment Advisor Robert Dau represented both the buyer and seller in this transaction. According to Mr. Dau, “Through the combined efforts of the sophisticated approach of the buyer and Shivu Srinivasan’s deep knowledge of the East Bay market, we were able to bring this deal over the finish line.”

The Aloha Apartments are located at 250 W. Jackson Street. with ease of access to I-880 and I-580 freeways, and Hayward BART station. Shivu and his team were able to navigate around issues like deferred maintenance and below-market rents to negotiate a substantially higher price by demonstrating the value of the property’s amenities and location.

At 47,250 square feet with 70 units, the Aloha Apartments offers tenants valuable amenities including a pool and spacious patios. The property itself is centrally located in Hayward with a great location next to Hayward BART station and various well-known retailers in and around the Jackson Square Shopping Center.

The transaction is representative of the growing trend of real estate investors tapping into parts of the East Bay Area that are often more stable and cheaper to manage and maintain compared to real estate investments in San Francisco and Oakland.

 

About NAI Northern California

NAI Northern California is at the leading edge of technology, collaborative culture, and training,
giving our local professionals a competitive advantage and creating better outcomes for our
clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to
grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today
NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 425
million square feet of property. Global offices deliver market-leading services locally and
combine their in-market strengths to form a powerful bond of insights and execution for
clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

Visit our News Page here
Download Article PDF here

NAI Northern California Represents 45-Unit, Off-Market Portfolio Sale in Adams Point

OAKLAND, CA – NAI Northern California, the Bay Area presence for NAI Global, the largest
commercial real estate brokerage network in the world, is proud to announce the 45-unit, off-market
portfolio sale of three separate multifamily properties in the Adams Point neighborhood of Oakland,
California.

NAI Northern California’s Vice President Shivu Srinivasan and Investment Advisor Robert Dau
represented both the buyer and seller in all three transactions including 375 Grand Avenue, 383
Grand Avenue, and 171 Montecito Avenue with each property adding up to an $12,500,000 portfolio. According to Mr. Dau, above market pricing for these off-market transactions was achieved through long-term potential of these pride-of-ownership properties.

Continued spillover of tenants from the San Francisco and rising interest of development adds to the
excitement of the Adams Point neighborhood. The neighborhood offers stable, ideally located assets
with substantial upside. As it turns out, the owners of these properties cashed-out after long-term
ownership of the properties over the past few decades.

Shivu and his team closed the sales of the 45 units, totaling 34,212 square feet, off-market. The prime
Adam’s Point location makes these properties very marketable to potential tenants, with close proximity
to the amenities of Downtown Oakland and the Grand Lake District as well as easy commute access to
the rest of the San Francisco Bay Area.

 

About NAI Northern California

NAI Northern California is at the leading edge of technology, collaborative culture, and training,
giving our local professionals a competitive advantage and creating better outcomes for our
clients. We are consistently a top Commercial Brokerage in the Bay Area, and continue to
grow our team and revenues.

NAI Global is the largest commercial real estate brokerage network. Founded in 1978, today
NAI Global has more than 400 offices worldwide and over 7,000 professionals, managing over 425
million square feet of property. Global offices deliver market-leading services locally and
combine their in-market strengths to form a powerful bond of insights and execution for
clients with multi-market challenges.

To learn more, visit www.nainorcal.com
Explore career opportunities with our winning team at www.nainorcal.com/careers

Visit our News Page here
Download Article PDF here