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Bay Area Apartment Market Tops State
The apartment markets in all of California’s major metropolitan areas continue strong, due to state-wide job boosts, with the Bay Area leading the pack in fundamentals, according to research firm Axiometrics.
Rent growth in the Bay Area apartment market has increased 9.7 percent annually since 2011. Southern California, although behind the Bay Area, also did well, rising 4.2 percent.
Axiometrics indicates that a major reason for this strong multifamily performance is the state’s continuing employment growth. Since October 2012, annual job growth in the state has reportedly averaged 470,000.
- ◦Economy
Apartment buildings for sale
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Element Apartment Homes
Sunnyvale, CACalifornia & West + Apartment Buildings
Learn MoreListing Status: Available Price: $12,400,000 No. of Units: 26 Cap Rate: 4.71 GRM/GIM: 13.93 Year Built: 1963 Building Size: 19230 Sq ft Lot Size: 0.84 Acres No. of Stories: 2 APN: 161-17-013 No. of Parking Spots: 38 Opportunity Zone: No Price per unit: $476,923 3111 W Ramona
Alhambra, CACalifornia & West + Apartment Buildings
Learn MoreListing Status: Available Price: $3,700,000 No. of Units: 13 Cap Rate: 4.51 GRM/GIM: 12.89 Average Occupancy: 97 Year Built: 1954 Building Size: 11778 Sq ft Lot Size: 11253 Acres No. of Stories: 2 APN: 5352-013-007 Zoning Code: ALRPD No. of Parking Spots: 11 Opportunity Zone: No Buy Side Fee: $3 Price per unit: $284,615
