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Market Information I'm just beginning to provide information on the real estate investment market, so pardon me. My initial efforts will be to track apartment sales in Huntington Beach, California. Depending upon the response, I'll begin to track other investment property types (commercial & industrial, not houses), and other markets, primarily western Orange County and Southern Los Angeles (basically, Long Beach). If you have an interest in a certain product type or a certain area, please e-mail me and, if there's sufficient demand, I'll see about adding it. In Huntington Beach in the 1st quarter 2004 (through March 19th), there were 16 sales according to the Southern California Multiple Listing Service. The sizes ranged from 2 unit to 10 unit properties, and the prices averaged $268,432 per unit. The prices on average provided a gross rent multiplier of 17 and a capitalization rate of 4.64%. The typical property was on the market for 51 days, less than 2 month, indicating an active market with properties selling relatively quickly, when fairly priced. As of July 8, 2004, there were 55 multi-family properties for sale in Huntington Beach. The least expensive property was a duplex available for $499,900, and the most expensive was a 21 unit property available for $3,090,000. The average cap rate was 5.04% (asking), and the typical property had been on the market for 35 days. |
