Rising interest rates, a possible slowdown in new construction likely to keep apartment occupancies stable and rents growing.
Marcus & Millichap forecasts new apartment development will reach a cyclical high this year, with about 9,500 completions in the metro area. The city will receive more than half of the new rentals. Developers finished about 9,200 units last year.
Investors should be keen on apartment assets due to strong fundamentals, opportunities for both buyers and sellers, and an abundance of capital
Fully occupied 24-unit multifamily complex in Aurora, Illinois offering a generous Cap Rate, Cash-on-Cash rate of return and higher than average upside in rental income based on amenities and location.
84 Unit Multifamily Property For Sale.
Condo Quality Construction.
All 2-Bed / 1-Bath Units with Dining Room.
90 Percent Updated Units.
Tenant Paid Electric Baseboard Heating & HW.
Very Well-Maintained / Long-Term Ownership.
The spread between owning and renting will weigh on single-family sales as the monthly mortgage payment for a median-priced home is now $339 more than the average monthly rent for an apartment, the highest spread since 2008