Toby Rodriguez CRE

12/01/2022

Investors Face New Tax on all Real Estate Transfers Priced Above $5 Million; Both Transaction and Development Landscape Negatively Affected.

If you have any questions on effective dates, please feel free to give me a call or message me for our reports.

10/07/2022

We are pleased to announce the success of our client’s recent 1031 exchange. Our clients had goals to escape California Legislation and Rent Control on Apartments and get into the product type of Self-Storage.

At the cusp of a changing market we sold their apartments over list price to a qualified buyer with an all cash offer. The Self-Storage market has grown expeditiously and with the help of our nation platform we closed on a turn-key Storage deal in College Station near Texas A&M University.

Thank you to our clients for trusting us with your investment and excited for your new path.

04/22/2022

Fired up to announce we closed on this 12 unit in Paramount, CA. Our marketing plan generated over 15 offers and eventually closed approximately 10% above the list price to an all-cash buyer.

This building consists of (4) 1-Bedrooms / 1-Bathroom and (8) 2-Bedroom / 2-Bathroom units. There is a shared laundry room and ample covered and open parking spaces available for tenants’ convenience. This was a great value-add opportunity with over 25% in rental upside.

For more information on this closing, please contact Toby Rodriguez at (562) 257-1214, Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For a complimentary property valuation, click the link in the bio.
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02/02/2022

Please to announce the closing on 11923 Old River School Road, a 15 unit multi family investment sitting in a Prime location in the city of Downey. Built in 1970, this building has a very desirable unit mix of studio, 1, & 2 bedroom units. We secured this property for our client with over 10+ offers.

01/08/2022

Sale Price - $3,150,000
Price Per Unit - $262,500
Pro Forma Cap Rate - 5.36%
Units - 12
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The King Real Estate Group of Marcus & Millichap is pleased to present 14033 Paramount Blvd, a 12 unit mutli-family property located in Paramount, California. Built in 1990, the subject property consists of 11,249 rentable square feet spread throughout a .4 acre lot. The building consists of (4) 1-Bedrooms / 1-Bathroom and (8) 2-Bedroom / 2-Bathroom units. There is a shared laundry and ample covered and open parking spaces available for tenant convenience.
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For more information on this listing, please contact Toby Rodriguez at (562) 257-1214, Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For more information on the property, click here: https://buff.ly/3eZzDas.

01/08/2022

Closed on 4707 Rosemead Blvd, a 13 unit multi family investment property centrally located in Pico Rivera. Built in 1962, the property consists of (4) one-bedroom units, (9) two-bedroom units, and a non-conforming studio. Value add deal, only multifamily sale in Pico Rivera for 2021.

12/01/2021

Sale Price - $1,700,000
Price Per Unit - $283,333
Pro Forma Cap Rate - 5.52%
Units - 6

Marcus & Millichap is pleased to present a 6 unit apartment building located at 9421 Harvard St in the prime Gateway City of Bellflower, CA. Built in 1979, the subject property consists of 5,416 rentable square feet spread throughout a .21 acre lot. The building consists of (5) 2 - Bedrooms / 1 - Bathrooms units and (1) 1 - Bedroom / 1- Bathroom unit. Ample on-site parking on the property which includes (3) tuck under carports, (1) partial tuck under, and (5) open for spaces available for tenants' convenience. The one bedroom unit has undergone a complete renovation, with quality work completed to achieve market rents. The unit has laminate wood flooring throughout and the kitchen, bathroom, lighting and fixtures have all been replaced or renovated.

For more information on this listing, please contact Toby Rodriguez at (424) 405.3881, Ryan Gonzalez at (562) 257-1304 or Kevin King at (562) 972-1050. For more information on the property, click here: https://bit.ly/3d5y4Xu.

01/28/2021

09/08/2020

Marcus & Millichap CEO and President Hessam Nadji was recently featured on TD Ameritrade where he discussed the commercial real estate outlook during this unprecedented time. He spoke about the current trends by property type which are creating a wide range of options, markets to watch during the upcoming economic recovery, and much more.
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To watch the interview with TD Ameritrade, click here: https://bit.ly/3ibXqno.

08/31/2020

As we pass through another month living in unprecedented times due to the novel coronavirus, we have started to see a shift in lifestyle preferences. After being sequestered for months, with many people working from home and doing their shopping and schooling online, households are reevaluating their current accommodations. Larger residences with spaces appropriate for home offices and online learning that also have outdoor space to enhance social distancing are gaining favor.
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To read the Marcus & Millichap research brief, click here: https://bit.ly/34Q6iLx.

08/19/2020

The King Group of Marcus and Millichap is pleased to present a completely remodeled 9-unit apartment building located at 2111 E. Bermuda Street in the Bluff Heights area of Long Beach, California. Built in 1959, the subject property consists of 6,383 rentable square feet spread throughout a 6,506 square foot lot. The unit mix consists of two 2 bedroom / 1 bathroom units and seven 1 bedroom / 1 bathroom units. There are 6 garages for tenants’ convenience and also used to generate income for the owner. It is separately metered for gas and electricity which helps keep expenses to a minimum. Owners enjoy the high demand for rentals in a coastal city of Southern California. Tenants enjoy living close to the ocean and Downtown Long Beach where there are shops, restaurants, cafes, entertainment centers and grocery stores.
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List Price - $3,950,000
Units - 9 Units
Cap Rate - 4.11%
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For more information, contact Kevin King at (562) 972 - 1050, or Arnie Suttipreechanun at (562) 303 - 3734.