King Real Estate Group of Marcus & Millichap

King Real Estate Group of Marcus & Millichap Commercial real estate group in Southern California.

08/16/2024

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Happy Independence Day from the King Group of Marcus & Millichap!We wish you a joyful and safe celebration of this remar...
07/03/2024

Happy Independence Day from the King Group of Marcus & Millichap!

We wish you a joyful and safe celebration of this remarkable day in our nation's history.

Marcus & Millichap recently released a Research Video discussing the following:-The products and prices most influencing...
07/01/2024

Marcus & Millichap recently released a Research Video discussing the following:

-The products and prices most influencing inflation
-One reason economists are “not a fan” of how inflation is measured
-The “outdated” inflation mechanics that allow CRE investors to see the future

To watch the video in its entirety, click here: https://buff.ly/3W3jtTL.

Inflation has declined in recent months, and a report due Friday is expected to provide further evidence that price incr...
06/28/2024

Inflation has declined in recent months, and a report due Friday is expected to provide further evidence that price increases are easing.

Forecasters expect inflation as measured by the Personal Consumption Expenditures (PCE) index slowed down in May, according to a survey of economists by Dow Jones Newswires and the Wall Street Journal. The median forecast calls for PCE prices to have risen 2.6% over the past 12 months, down from 2.7% in April. “Core” inflation, which excludes volatile prices for food and energy, likely slipped to 2.6% from 2.8%, reaching its lowest level since March 2021 and inching towards the Federal Reserve’s goal of a 2% annual rate.

To read more about what to expect in today’s report on the Fed’s preferred measure of inflation, click here: https://buff.ly/3W2fEy8.

List Price - $975,000Cap Rate - 4.59%Price Per Unit - $487,500Property will be Delivered VacantMarcus & Millichap is ple...
06/27/2024

List Price - $975,000
Cap Rate - 4.59%
Price Per Unit - $487,500
Property will be Delivered Vacant

Marcus & Millichap is pleased to present a 2-unit multifamily property located just blocks away from the highly desirable and vibrant Alamitos Beach area. The subject property, built in 1936, consists of 1,522 rentable square feet spread throughout a 5,132 square-foot lot. The building consists of a 3-Bedroom/2-Bathroom front house and one 1-Bedroom / 1-Bathroom unit. The property underwent full interior upgrades including new vinyl flooring, interior paint, updated appliances, shaker cabinets, and granite countertops. Located blocks from the 4th Street Corridor, commonly referred to as Retro Row, and Alamitos Beach, tenants enjoy living a short distance to local beaches, California State University of Long Beach, as well as shopping, restaurants, and nightlife.
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For more information on this listing, please contact Blake Talin at (310) 706-4328 or Kevin King at (562) 257-1246. To view the offering memorandum, click here: https://buff.ly/4cHGrVN.

Marcus & Millichap recently released a Research Video discussing the following:-The economic outlook for the remainder o...
06/24/2024

Marcus & Millichap recently released a Research Video discussing the following:
-The economic outlook for the remainder of 2024
-Four potential economic scenarios and what they mean for CRE
-Why the CRE investment outlook is strengthening

To watch the video in its entirety, click here: https://buff.ly/4ceaTHw.

Conditions in the multifamily investment market have improved, driven by a steep contraction in property prices and grow...
06/21/2024

Conditions in the multifamily investment market have improved, driven by a steep contraction in property prices and growth in net operating income (NOI) that together offset the effect of higher mortgage rates.

The effect was to boost Freddie Mac's Multifamily Apartment Investment Market Index (AIMI) for 1Q 2024 by 8.7% to 112.5. The hike in the latest AIMI marked a sharp reversal from its decline in the previous quarter. For investors, this signaled that the environment for multifamily investments is increasingly favorable. For the year as a whole, the AIMI rose by 8.1%.

To read more about the multifamily investment marketing showing signs of improvement, click here: https://buff.ly/3Vxq7A5.

List Price - $2,900,000Cap Rate - 5.32%Price Per Unit - $250,000Marcus and Millichap is pleased to present that a 12 uni...
06/20/2024

List Price - $2,900,000
Cap Rate - 5.32%
Price Per Unit - $250,000

Marcus and Millichap is pleased to present that a 12 unit apartment building located at 1229 - 1231 E. 4th Street in Long Beach, California is under contract. This is a value-add opportunity in a great location of Alamitos Beach. The subject property is close to 4th Street Retro Row, Downtown Long Beach and 2nd Street in Belmont Shore where there are restaurants, shops, bars, grocery stores and entertainment venues. The subject property consists of 6 parcels for a total of 7,442 rentable square feet spread throughout a 6,745 square foot lot. It was built in 1936 and consists of all one bedroom / one bathroom units. The subject property is also separately metered for gas and electricity which helps keep expenses to a minimum. There are a total of 7 garages which are generating income as well.
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For more information on this listing, please contact Arnie Suttipreechanun at (562) 257-1291 or Kevin King at (562) 257-1246.

There is no official body or organization that formally declares when the US economy enters a period of stagflation – t...
06/17/2024

There is no official body or organization that formally declares when the US economy enters a period of stagflation – that is, an economy characterized by slow economic growth, high unemployment, and high inflation occurring simultaneously. And it is highly debatable whether the US economy is suffering from these conditions or may in the near future. However, a growing number of observers believe CRE specifically has a problem with it, including most recently CoStar Group.

To read more about CRE possibly having a stagflation problem, click here: https://buff.ly/3VtRpat.

According to Redfin, the median asking apartment rent in May was up 0.8% year-over-year to $1,653, following the 0.9% gr...
06/14/2024

According to Redfin, the median asking apartment rent in May was up 0.8% year-over-year to $1,653, following the 0.9% growth in April after 11 consecutive monthly decreases. This is the highest asking rent level since May 2022.

"Demand from young renters remains high, as many of them are opting to stay put rather than contend with an increasingly unaffordable homebuying market," Redfin Senior Economist Sheharyar Bokhari said in prepared remarks. "But so far, rent price growth has been limited because there are enough new apartments to meet demand, even in the busiest time of year for the rental market."

To read more about the current rental rates across the nation, click here: https://buff.ly/3Vni9JU.

Marcus & Millichap has been named the number one multifamily brokerage by Multi-Housing News based on 2023 sales volume....
06/14/2024

Marcus & Millichap has been named the number one multifamily brokerage by Multi-Housing News based on 2023 sales volume. The company’s total investment sales volume came to more than $20 billion, even during a challenging market cycle that 2023 presented.

To read more from Multi-Housing News, click here: https://buff.ly/3KGJCRV.

As anticipated, the Fed Funds target rate remained unchanged following the FOMC meeting this week. The target rate remai...
06/13/2024

As anticipated, the Fed Funds target rate remained unchanged following the FOMC meeting this week. The target rate remains at 5.25% - 5.50%, flat since July 2023, almost twelve months ago. The CME Fed Watch tool now puts the probability of a rate cut at an anemic 0.6% for the July FOMC meeting and 63.5% in September. The FOMC does not meet in August.

To read a report compiled by the MMCC division of Marcus & Millichap highlighting the recent non-change to rates, click here: https://buff.ly/3VodyXZ.

Address

111 W. Ocean Boulevard Suite 1025
Long Beach, CA
90802

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm
Saturday 9am - 3pm

Telephone

+15622571200

Website

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