True North CRE

07/22/2022

Signs getting put up at our listing in Venice. 1176 Nelrose Ave. Venice, CA

Owner/User or Investment Opportunity

Price: $5,250,000

Excellent in-place Cap 4.37%

No Rent Control

Units range from 1,700to 2,000 SF +/-

Private elevators in all units

07/22/2022

It’s Friday and time for Multifamily Weekend… This week’s market…. Palms | Mar Vista | Culver City

The Palms | Mar Vista | Culver City apartment market continued to experience strong growth in Q2 2022 vs Q2 2021. Price per square foot and per unit both increased by 3.0% and 17.4%, respectively. Effective rent also grew by 9.0%. Despite the overall growth in the market, the number of transactions decreased by 40%. However, total sales volume saw a slight uptick of 4.0%.

The Fed has raised interest rates several times this year and is expected to raise rates between 75-100 basis points later this month. This rate increase will impact certain buildings more than others. However, we do expect to see strong sales volume going forward as demand outpaces supply and multifamily housing continues to be a great hedge against inflation.

Want to receive multifamily availabilities for this area? Sign up here: https://mailchi.mp/truenorthcrela/signup

If you’ve been thinking about selling your apartment building and capitalizing on these trends, email me at [email protected] or send me a DM to set up a time to talk. I’d be happy to provide you with an opinion of value.

I take great pride in helping my clients build wealth through buying and selling multifamily assets. Most importantly, I LISTEN and UNDERSTAND my clients' needs. If you're thinking about buying or selling a multifamily property, or have questions about the market, feel free to use me as a resource.

Have a great weekend!

07/19/2022

JUST SOLD! 1339 N Formosa Ave. Los Angeles, CA 90046

True North CRE of Compass Commercial and Marc Hernandez of the Marc Hernandez Group as exclusive listing agents proudly represented the Seller in this transaction. Details below:

Sale Price: $1,135,000

Units: 2

Price/Unit: $567,500

Bldg SF: 1,444 SF

Price/SF: $786

Listing Agents:
John Swartz
Scott Syme Jr
Marc Hernandez

Want more details on this sale or curious to find out what your property is worth? Reach out to us at [email protected]

07/09/2022

Check out our latest listing in Venice. A perfect owner/user opportunity or Investment being offered at a 4.37% Cap Rate. Custom finishes throughout and all of the units have outdoor space and private elevators. Designed by GIBBS Architects. This building is second to none. Call us for more information or to schedule a tour of the remaining units.

07/09/2022

FOR SALE: 1545 Yale St. |. 8 Units (7 existing and 1 ADU) | A rare opportunity to own a turn-key value add property with 53% upside in rents. 2 units will be delivered vacant (owner's unit and ADU). 7 Units have private outdoor space comprised of either 2 patios, or private roof top decks. All of the renovated units have builtin BBQs, Wet bars and outdoor storage space. 7 tandem parking spaces on-site. All renovated units have in-unit washer and dryers. Plenty of storage space. Give us a call at 310.421.1166 for more information.

07/09/2022

https://truenorthcrela.com/properties/sold

Take a look at John Swartz's current listings and recently sold properties in Los Angeles. For inquiries, feel free to contact him at (310) 779-9929.