Levin Johnston Directs Two Multifamily Property Sales Totaling Nearly $24 Million in California Bay Area

 Union Pines Apartments in Campbell, CA Sold for $15.5 Million

SANTA CLARA COUNTY, CA – Levin Johnston of Marcus and Millichap, one of the top multifamily brokerage teams in the U.S. specializing in wealth management through commercial real estate investments, has successfully directed the sale of two multifamily communities totaling $23.8 million in Santa Clara County – a high-barrier-to-entry market in the California Bay Area. 

The properties include a 36-unit community in Campbell, California, and a 23-unit community in San Jose, California.

 1012 Elm Street in San Jose, CA Sold for $8.3 Million

Adam Levin, Executive Managing Director, Robert Johnston, Senior Managing Director, and Eymon Binesh, Investment Associate of Levin Johnston, represented the buyers in each transaction and the seller of the Campbell property. Levin and Johnston also represented the buyer of the San Jose community.

Adam Levin

“Investor demand in the Bay Area remains is at an all-time high,” says Levin. “Santa Clara County has an enviable combination of major universities that produce a highly educated workforce, cutting edge firms, and exceptional affluence. 

"Multifamily owners in the market who are looking to sell understand that this is the perfect time to achieve a premium price, considering that the metro is expected to add approximately 44,000 people through 2023.”

Levin Johnston’s recent transactions include:

Levin Johnston of Marcus & Millichap directed the sale of Union Pines Apartments, a 36-unit apartment community in Campbell, California, for $15.5 million.

“Properties like Union Pines, situated in markets with high barriers to entry, offer tremendous upside potential and are highly sought after by investors,” explains Johnston. 

“We were able to achieve a premium price for our client by effectively demonstrating to the buyer Santa Clara County’s strong employment fundamentals and low vacancy levels, which make the asset an attractive choice for South Bay residents for years to come.”

Robert Johnston

Union Pines Apartments is located near several major tech employers such as Google, Facebook, LinkedIn, and Apple. 

$8.3 Million Sale of 1012 Elm Street in San Jose, California

            Levin Johnston also directed the sale of 1012 Elm Street, a 23-unit multifamily community in San Jose, California, for $8.3 million.

            “San Jose is known as ‘The Capital of Silicon Valley’ and is now considered to be a global city, notable for its affluence,” says Levin. 

“Situated near some of the nation’s top tech employers, the property is expected to benefit from an educated workforce and strong demand from high-income renters. 

"Additionally, Google is set to develop one of their largest campuses in downtown San Jose, which will bring 20,000 new jobs to the area, further driving this demand.”

           Levin Johnston has completed over $300 million in sales in 2019 to date, demonstrating continued health in the commercial real estate market in this region. 

 Levin Johnston Group is part of Marcus & Millichap’s Palo Alto office. 

Contacts:

Alex Caswell / Jenn Quader 

Brower Group

(949) 438-6262

acaswell@brower-group.com

www.levinjohnston.com.

Silicon Valley Multifamily Expands Bay Area Presence with Two New Brokers

Ting Liu

LOS GATOS, CA, Sept. 16, 2019 – Bay Area multifamily brokerage firm Silicon Valley Multifamily Group (SVMG) has expanded with two veteran brokers, Chip Trimmier and Ting Liu.

Together, they will focus on growth opportunities in San Mateo and Alameda County, including the ability to better serve Mandarin-speaking clients.

“Our objective since day one has been to provide high-quality investment advice for those looking to buy or sell Bay Area multifamily and commercial investment properties,” said Michael Shields, CCIM, Founder and Managing Broker for Silicon Valley Multifamily Group.

Charles (Chip) Trimmier 

“Chip and Ting bring a unique skillset to that mission, allowing us to help clients navigate and succeed through major market shifts such as rent control and global economic uncertainty.”

Trimmier and Liu will continue SVMG’s efforts to provide brokerage and 1031 exchange services, as well as short-term and crisis property management solutions to both English and Mandarin-speaking clients.

Trimmier has been a real estate professional since 2004, founding a title company, a property management company and simultaneously serving as general counsel and business developer for a government contractor located in the Washington D.C. area.

Michael Shields

Liu is a 20-year industry veteran with experience as a realtor, property manager and commercial real estate professional specializing in investment brokerage.

 Her experience includes brokering small residential income investment properties and residential properties, serving as property manager for commercial and multifamily assets, and directing sales and accounting protocols.

Liu is fluent in Mandarin and English and has resided in both the U.S. and China, offering her a unique understanding of each culture.

 CONTACT:

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

www.siliconvalleymultifamily.com.

Home Prrice Appreciation in Highest-Risk Natural Hazard Cities 1.7 Times the Overall Market Rate over Last Decade, Finds ATTOM Data Solutions

Daren Blomquist

IRVINE, CA,  Sept. 20, 2018 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its 2018 U.S. Natural Hazard Housing Risk Index, which found that median home prices in cities with the top 80^th percentile for natural hazard housing risk have appreciated 40 percent on average over the last 10 years — 1.7 times the 24 percent home price appreciation in the overall U.S. housing market during the same time period.

For the report ATTOM indexed natural hazard risk in more than 3,000 counties and more than 22,000 U.S. cities based on the risk of six natural disasters: earthquakes, floods, hail, hurricane storm surge, tornadoes, and wildfires. 

ATTOM also analyzed housing trends in 2,616 cities and 440 counties — containing more than 53 million single family homes and condos — broken into five equal quintiles of natural hazard housing risk (see full methodology below).

“While combined natural disaster risk has not seemed to hobble home price appreciation over the past decade, the story is much different for some individual hazard risks — namely flood, hurricane storm surge and wildfire risk,” said Daren Blomquist, senior vice president at ATTOM Data Solutions. 

“Home price appreciation in the overall U.S. housing market was double the rate of appreciation in cities with the highest flood risk and triple the rate of appreciation in cities with the highest hurricane storm surge risk over the past 10 years. 

"The broader market has also outperformed appreciation in cities with the highest wildfire risk during the last decade, although the gap is much narrower.”

	Overall Natural Hazard Risk Category
Housing Metric	Very Low	Low	Moderate	High	Very High	Grand Total
Number of Cities	524	522	524	523	523	2616
Single Family Homes & Condos	9,185,179	9,434,995	11,107,207	12,524,073	11,039,375	53,290,829
Average Home Value	$282,218	$267,380	$260,204	$298,559	$624,357	$346,516
Average Property Age (Years)	45	43	39	36	42	41
Average Property Tax	$4,518	$3,705	$3,321	$3,652	$4,959	$4,031
Average Property Tax Rate	1.7%	1.4%	1.3%	1.3%	0.9%	1.3%
Average Foreclosure Rate	0.65%	0.38%	0.36%	0.29%	0.21%	0.38%
Avg Pct Seriously Underwater (LTV 125+)	10.2%	9.9%	9.8%	7.9%	4.7%	8.5%
Average Homeownership Tenure	8.19	7.63	7.60	7.66	9.23	8.06
Average 2018 Median Sales Price	$244,079	$232,812	$231,432	$267,133	$582,876	$311,640
Average Premium/Discount to Market Value	-3.7%	-3.7%	-3.0%	0.3%	1.0%	-1.8%
Average of 1-Year HPA	6%	7%	7%	6%	9%	7%
Average of 5-Year HPA	29%	39%	39%	43%	54%	41%
Average of 10-Year HPA	11%	19%	21%	28%	40%	24%

Foreclosure rates elevated in highest-risk flood cities

Foreclosure rates were lower in cities in the top 80^th percentile for natural hazard housing risk, and this was true for all individual natural hazard risk types except for flood risk. In cities in the top 80^th percentile for flood risk, active foreclosures represented 0.61 percent of all properties, well above the foreclosure rate of 0.38 percent across all risk categories.

“Weather is the largest external swing factor in U.S. economics and accounts for over $550 billion per year in lost revenue and up to 76,000 lost jobs,” said Mark Gibbas, president and CEO at WeatherSource, a technology company that provides global weather and climate data along with advanced analytics. 

Mark Gibbas

“Weather can have an enormous impact on homeowners and the housing market.  When big weather events such as hurricanes, tornados and hail hit, many homeowners suffer financial hardship from various sources such as lost wages and losses due to inadequate insurance. 

"And while the impact on homeowners can be severe, hurricanes like Harvey can change the landscape of the housing market region wide, including shifts in the number of available homes and shifts in home values.” 

Cities with the highest flood risk also posted seriously underwater rates (loan-to-value ratio of 125 percent or higher) above the overall market average — 8.9 percent of all homes with a mortgage compared to 8.5 percent nationwide. 

Tornado risk was the only other individual natural hazard risk factor with seriously underwater rates above the market average in the highest risk cities — 10.0 percent of all homes with a mortgage.

CONTACT:

Christine Stricker Sr.
Marketing Manager, Projects
Office: 949.748.8428
Email: christine.stricker@attomdata.com