What are the top markets to purchase large multifamily apartment complexes in today?

I am looking to figure out how to best find out up to date information on the latest new markets up and coming for large multifamily apartment complexes. What are the best websites to go to find good information on markets?
In Buying Property - Asked by De'Von W. - Aug 2, 2012
Report Abuse
Answer this Question

Answer(s)

Jeffrey B.
Owner/Investor
Malta, NY

Saratoga County NY is the fastest growing county in New York State. Site of a 7 billion, yes, billion dollar semiconductor chipfab plant that is ramping up production. The new silicon valley, check it out.

Aug 3, 2012
Report Abuse
Phillip M.
Broker/Agent
Martinez, GA

West Richmond and Columbia Counties in East central Georgia are in strong need of additional apartment complexes. Most all existing complexes are at capacity. I have land that fits the criteria needed in Columbia, Richmond and Aiken Counties. Please call phillip mccormick @ 706-829-2922

Aug 3, 2012
Report Abuse
Tony H.
Broker/Agent
Chicago, IL

Top 20
San Jose
San Francisco
New York
Boston
Orange County
San Diego
Austin
Seattle-Tacoma
Washington, D.C.
Minneapolis
Portland
New Jersey
Los Angeles
Denver
Dallas/Fort Worth
Oakland
Chicago
Houston
Philadelphia
Miami
Best web site for research on commercial real estate is http://marcusmillichap.com

Aug 3, 2012
Report Abuse
REMAX F.
Broker/Agent
Sugar Land, TX

Houston, TX, people are flocking to Houston because there are 1000's of jobs to fill the apartment market here is hot because of that, dont forget you want to be able to fill your apartments with people who have jobs or are getting section 8 support, If you want more info please feel free to contact me Arthur Confait

Aug 5, 2012
Report Abuse
Giancarlo D.
Developer
Foothill Ranch, CA

El Paso should definatley be on that list! This market currently has a 97% occupancy rate with a demand of 7,000 units. El Paso is home to Ft. Bliss and is a major driver to the multi-family market. The city of El Paso also has an incentive program set up for new multi-family developments that could help supply the market. Feel free to contact me at 915-740-4126 for any further details in this market.
Giancarlo Da Prato, CCIM

Aug 7, 2012
Report Abuse
Marsha C.
Broker/Agent
Chattanooga, TN

De'Von, I too would appreciate access to such information. I am rather new to the world of commercial transactions. However; I have recently listed an awesome 11.75 acre in Hixson, Tn. This is a prime flat highly developable peice of property located in a fabulous section of Chattanooga, Tn. We also seem to have a shortage of available apartments due to the rapid growth of our special Scenic City! With the assistance of VW, Amazon, Dockers, and several other big names which are newly built and attracting those whom are in search of employment. My property would lend itself to the use of an apartment complex in grand style. My desire to market this property has proven somewhat challenging as I need to find good information to pass on to possible Buyers. Regardless of the boundless number of uses of this property, without information for marketing it is a difficult task! Please and thanks for any suggestions!

Aug 7, 2012
Report Abuse
Dave S.
Broker/Agent
Seattle, WA

Seattle, Seattle, Seattle ....... Its a Landlord's paradise. Consitently the Seattle area is rated in the Top 10. What makes Seattle unique is its geopgraphy. We are bounded by Mountains and Water. Its tough to overbuild and its beautiful. The Seattle area may not have the higher returns of some other markets but right now you get tenants with jobs at places like Amazon, Microsoft, and Boeing.

Aug 8, 2012
Report Abuse
Jessica M G.
Broker/Agent
Bethel, CT

tony h. is correct. go to the marcus millchap site. become a member.

Aug 8, 2012
Report Abuse
Dalip S R.
Broker/Agent
Arlington, TX

Beaumont/Port arthur area in Texas is a great market for multifamily investment. With billions of $$ of investment and expension in oil refineries including Exxon Mobile, Motiva, and many other. There is always a great demand for large multifamily in this area.

Aug 9, 2012
Report Abuse
HARVEY M.
Owner/Investor
Fort Lauderdale, FL

Florida, Many of the large REIT's are buying multi family properties in many of the Florida markets. Orlando, Palm Beach County, Broward County, etc

Aug 11, 2012
Report Abuse
Scott G.
Owner/Investor
New York, NY

Every state is different, every city is different, and every city has sub-markets. Your question is a loaded one, yet can be answered simply (but not necessarily easily). To mitigate your risk, it is essential to understand the real estate cycle and know what part of the cycle your market is in. Only then can you determine if the market is ripe for investing in large apartment complexes. Considering the 4 cycle phases (recession, recovery, expansion, hyper-supply), it is critical to identify the correct phase and buy at the right time. For example, if you evaluated your numbers correctly and determined that a given acquisition fits your criteria, but failed to review the market cycle and made your purchase in hyper-supply, you can be in for a rough time. Overbuilding and over supply leads to low absorption, and low absorption leads to decreasing rents and increasing vacancies. This could destabilize your property and/or cause you to lower your rents resulting in a lower than expected NOI. If your own money is at risk you may be able to ride out the storm, but if investor money is at risk you can lose your source for future investments... or worse...

Aug 20, 2012
Report Abuse

Welcome to Answers

LoopNet Answers is where the commercial real estate community shares what they know to help each other out. And it's all for free.

Ask a question to get advice from brokers, investors, professionals and local experts.

Answer questions to raise your visibility as a trusted advisor and build new relationships.

Ask a Question

Post Question