The URL can be used to link to this page

Home My WebLink AboutItem 8.1 SB 343 Smoking Pollution Apt Housing 2-19-13 SB 343 Senate Bill 343 mandates supplemental materials that have been received by the City Clerk's office that relate to an agenda item after the agenda packets have been distributed to the City Council be available to the public. The attached documents were received in the City Clerk's office after distribution of the February 19, 2013 City Council meeting agenda packet. Item 8.1 Caroline Soto Subject FW: Message from Tim @ RHA Attachments: DUBLIN Market Data 4th QTR 2012.pdf Importance: High Mayor Sbranti, In the coming days,you will likely be recieving the annual report from city staff regarding the multifamily smoking ordinance. Unfortunatley I will be unable to attend, due to a family issue. We are requesting that no further changes be made to the ordinance at this time. The City has certainly provided catalyst for change but we believe the market is now driving smoking policy on rental property. We believe that further regulation at this time is unnecessary. As you may recall from last year, the ordinance was adjusted to reflect changes in the market place. We believe that the market, rather than regulatory action, should govern smoking policy going forward. We still believe that our customers and the market will continue to dictate rental trends for us and we ask that at this time you continue to allow the market to drive any further change. Thank you for your consideration. Tim +++++++++++++++++++++++++++++++ Timothy May u Rental Housing Association Rental Housing Association -Serving Southern Alameda County Part of the California Apartment Association Network. Ethics* Professionalism* Quality Housing 1264 A Street Hayward, CA 94541 510-537-0340 ext. 102 http://www.rhasouthernala.com http://www.caanet.org +++++++++++++++++++++++++++++++++++ 1 2/19/13 RealFacts Report REA /PACTS Market Overview 4Q2012 Dublin is 1 of 13 cities in Alameda County (with at least 5 communities) Rent ranking Occupancy ranking for cities in Alameda County for cities in Alameda County City Avg Rent City Avg Occ. 1. Berkeley $2,368 1. Castro Valley 98.4% 2. Emeryville $2,254 2. Union City 97.5% 3. Oakland $1,961 3. Fremont 97.4% 4. Dublin $1,898 4. Newark 97.3% 5. Pleasanton $1,826 5. Hayward 97.2% 6. Newark $1,690 6. Livermore 97.0% 7. Fremont $1,652 7. Emeryville 97.0% 8. Union City $1,620 8. San Leandro 96.7% 9. Alameda $1,583 9. Alameda 96.7% 10. Livermore $1,490 10. Oakland 96.4% 11. Hayward $1,327 11. Dublin 95.1% 12. Castro Valley $1,292 12. Pleasanton 94.9% 13. San Leandro $1,202 13. Berkeley 86.1% Rent growth % Rankings Yr. over Yr. Occupancy growth Rankings Yr. over Yr. for cities in Alameda County for cities in Alameda County City Avg Rent City Avg Occ. 1. Oakland 17.0% 1. Oakland 3.3% 2. Emeryville 15.6% 2. Castro Valley 1.4% 3. Union City 13.8% 3. Newark 0.9% 4. Newark 12.3% 4. Fremont 0.8% 5. Berkeley 10.4% 5. Emeryville 0.6% 6. Fremont 9.8% 6. Union City 0.50/0 7. Hayward 8.6% 7. Hayward 0.30/0 8. Dublin 8.4% 8. Pleasanton 0.2% 9. Alameda 8.0% 9. Livermore 0.1% 10. Pleasanton 7.7% 10. Alameda 0.10/0 11. Livermore 6.7% 11. Dublin -0.4% 12. Castro Valley 3.7% 12. San Leandro -1.1% 13. San Leandro 3.2% 13. Berkeley -12.1% 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed. realfactsonline.con*gi-binrf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 1112 2/19/13 RealFacts Report REAUFACTS Market Overview 4Q2012 Alameda County is 1 of 5 counties in San Francisco-Oakland-Fremont CA MSA Rent ranking Occupancy ranking for counties in San Francisco-Oakland-Fremont for counties in San Francisco-Oakland-Fremont CA MSA CA MSA County Avg Rent County Avg Occ. 1. San Francisco $2,741 1. Alameda 96.6% 2. San Mateo $2,128 2. San Mateo 95.9% 3. Mahn $1,985 3. Mahn 95.9% 4. Alameda $1,636 4. San Francisco 95.6% 5. Contra Costa $1,433 5. Contra Costa 95.3% Rent growth % Rankings Yr. over Yr. Occupancy growth Rankings Yr. over Yr. for counties in San Francisco-Oakland-Fremont for counties in San Francisco-Oakland-Fremont CA MSA CA MSA County Avg Rent County Avg Occ. 1. San Mateo 11.6% 1. Alameda 0.3% 2. Alameda 9.7% 2. Contra Costa -0.1% 3. Mahn 8.6% 3. San Mateo -0.2% 4. Contra Costa 7.0% 4. San Francisco -0.7% 5. San Francisco 5.8% 5. Mahn -1.2% Average Rents Average Occupancy $2741 9695 7745 $1,B 27 57% 3895 $913 1945 $0 I i C C realfactsonline.con*gi-biNrf-report2.pl?action=report&page=print&reportTitle=&t 38id2=Dublin:CA 2/12 2/19/13 RealFacts Report 2/19/2013 Data source: RealFacts (415)884.2480. Data Is deemed reliable but accuracy cannot be guaranteed. realfactsonline.corVcgi-birirf-report2.pl?action=report&page=print&reportTi tie=&type=3&id2=Dublin:CA 3/12 2/19/13 RealFacts Report • REAL/FACTS Market Overview Inventory Analysis Dublin 4Q2012 Properties/Units 13 / 3,424 Average units per property 263 Class A 2 /435 Average year built 1993 Class B 5 / 1,502 Size range (units) 80 - 555 Class C 6 / 1,487 Age range 1968 - 2008 Unit Mix (all unit types appear In this report) Benchmark 0/0 Benchmark Average Benchmark Average BenchmarkAvg. Rent Avg. Rent Totals Units of Mix 0/0 of Mix Sq. Ft Avg Sq Ft Rent Avg. Rent Sq. Ft. Sq. Ft. All 3,424 100.0% 100.0% 904 845 $1,898 $1,521 $2.10 $1.80 Urban Loft 24 0.7% 0.1% 944 844 $1,760 $2,062 $1.86 $2.44 studio 25 0.7% 5.1% 512 478 $1,578 $1,406 $3.08 $2.94 jr lbd lbd lbth 1,438 42.0% 39.0% 734 701 $1,638 $1,388 $2.23 $1.98 lbd 1.5bth lbd TH 60 1.8% 0.4% 833 810 $1,565 $1,751 $1.88 $2.16 2bd lbth 302 8.8% 17.3% 941 863 $1,838 $1,278 $1.95 $1.48 2bd 1.5bth 2bd 2bth 1,329 38.8% 26.2% 1,019 1,016 $2,098 $1,762 $2.06 $1.73 2bd 2.5th 2bd TH 60 1.8% 3.3% 1,324 1,081 $2,390 $1,802 $1.81 $1.67 3bd lbth 2 0.1% 0.2% 1,020 1,006 $1,600 $1,356 $1.57 $1.35 3bd 1.5bth 3bd 2bth 114 3.3% 3.5% 1,253 1,232 $2,551 $1,891 $2.04 $1.53 3bd 3bth 70 2.0% 0.4% 1,331 1,385 $2,669 $3,388 $2.01 $2.45 3bd TH 4bd 5bd 2bth 5bd TH Age of Existing Inventory Area: Dublin Benchmark: Nor Cal Region ® PrE!9!0s O E Pre 1960s (47) D 19 1) a■ 19 O 19 770s (559) Y.� ❑ 1980s (4) ; ❑ 1980s (493) ❑ 1990s (4) ❑ 1990s (169) ❑ 2000s (4) 7 ❑ 2000s (236) realfactsonline.con✓cgi-biNrf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 4/12 2/19/13 RealFacts Report 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed. realfactsonline.con*gi-biNrf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 5/12 2/19/13 RealFacts Report RFAL..JFACTS Market Overview Rental Trends for City Dublin All Classes Quarterly Trend Average Asking Rent 4Q2010 1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1 Yr. Change AVERAGE $1,635 $1,669 $1,711 $1,776 $1,751 $1,787 $1,825 $1,896 $1,898 8.4% studio $1,255 $1,270 $1,270 $1,270 $1,270 $1,588 $1,578 $1,578 $1,578 24.3% lbd lbth $1,410 $1,452 $1,483 $1,539 $1,485 $1,517 $1,570 $1,649 $1,638 10.3% 2bd lbth $1,631 $1,638 $1,688 $1,746 $1,721 $1,785 $1,788 $1,866 $1,838 6.8% 2bd 2bth $1,793 $1,821 $1,885 $1,975 $1,957 $1,992 $2,026 $2,101 $2,098 7.2% 2bd TH $2,035 $2,131 $2,132 $2,132 $2,132 $2,132 $2,132 $2,297 $2,390 12.1% 3bd 2bth $2,025 $2,098 $2,119 $2,286 $2,375 $2,486 $2,369 $2,491 $2,551 7.4% 3bd TH $1.89 - $1,798 - $1,693 - $1,599 - • $1,499 - r' r -~ $1,399 - � 00- $1,300 4Q2010 1Q2M1 2Q231.1 3(12011 4Q2011 1172012 2Q2312 3Q2012 4Q2012 Search Criteria - - Benchmark: Nor Cal Region Average Occupancy Rate 4Q2010 1Q2011 2Q2011 3Q2011 4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1 Yr. Change AVERAGE 95.4% 96.3% 97.2% 95.5% 95.5% 94.1% 95.6% 95.2% 95.1% -0.4% 99% - 97% - 93% - 91% - 89% - • 87% - 8595 ' 4Q2010 1Q2011 2Q2011 3(12011 4Q2011 1(12012 2Q2012 3(72012 4Q2012 Search Criteria - - Benchmark: Nor Cal Region realfactsonline.conVcgi-biNrf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 6/12 2/19/13 RealFacts Report 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed. realfactsonline.corNcg i-bin/rf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 7/12 2119/13 RealFacts Report REAL/FACTS. Market Overview • Rental Trends for City Dublin All Classes Annual Trend Average Asking Rent 2004 2005 2006 2007 2008 2009 2010 2011 2012 4 Yr. Change AVERAGE $1,415 $1,414 $1,506 $1,583 $1,681 $1,635 $1,620 $1,727 $1,852 10.1% studio $1,018 $1,075 $1,418 $1,237 $1,285 $1,270 $1,580 11.5% lbd lbth $1,248 $1,246 $1,327 $1,400 $1,480 $1,428 $1,400 $1,490 $1,594 7.7% 2bd lbth $1,226 $1,230 $1,330 $1,394 $1,589 $1,575 $1,598 $1,698 $1,819 14.5% 2bd 2bth $1,567 $1,573 $1,681 $1,767 $1,846 $1,794 $1,772 $1,909 $2,054 11.3% 2bd TH $1,265 $1,300 $1,300 $1,300 $2,106 $2,077 $2,029 $2,132 $2,255 7.1% 3bd 2bth $1,686 $1,721 $1,796 $1,907 $2,071 $2,014 $2,035 $2,225 $2,476 19.5% 3bd TH $2,778 $2,685 $1,852 - • $1,681 - $1,511 - $1,340 r p• ~ ~ + r- - - -•• ... ' - - r $1,170 - r r .. ~. r $1,003 2004 2005 2006 2007 2006 2009 2010 2311 2012 -Search Criteria - - Benchmark: Nor Cal Region Average Occupancy Rate 2004 2005 2006 2007 2008 2009 2010 2011 2012 4 Yr. Change AVERAGE 94.6% 95.9% 97.0% 95.5% 94.9% 93.5% 94.9% 96.1% 95.0% 0.2% 99% - 97% - 95% - r rr r r r- - - - r- r 93% - 91% - 89% - 87% - 8596 I , I , 2004 2005 2006 2007 2008 2009 2010 2011 2012 -Search Criteria - - Benchmark: Nor Cal Region realfactsonline.corr cgi-bin/rf-reporf2.pl?action report&page=print&reportTitle=&type=3&id2=Dublin:CA 8/12 2/19/13 RealFacts Report 2/19/2013 Data source: RealFacts (415)884,2480. Data is deemed reliable but accuracy cannot be guaranteed. • realfactsonline.con✓cgi-bin/rf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 9/12 2/19/13 RealFacts Report REAL/FACTS Market Overview Sales Trends for City Dublin 2009-2012 , All Classes 2012 2011 2010 2009 Total Transactions 0 1 0 1 Total Dollar Value $110,000,000 $79,700,000 Total Square Feet 350,868 350,868 Total Units 390 390 Median Year Built 2002 2002 Average Square Footage 350,868 350,868 Average Sale Price $110,000,000 $79,700,000 Average Price Per Square Foot $313.51 $227.15 Average CAP Rate Average GRM Average Units 390.0 390.0 Average Price Per Unit $282,051 $204,358 2012 2011 2010 2009 Average Rent/sf (All) $2.06 $1.93 $1.80 $1.79 Class A $2.12 $1.97 $1.82 $1.85 Class B $2.07 $1.91 $1.79 $1.73 Class C $2.02 $1.90 $1.77 $1.73 Average Occupancy (All) 95% 96% 95% 92% Class A 95% 95% 95% 94% Class B 93% 96% 95% 87% Class C 96% 97% 94% 95% $/Unit Cap Rate 2012 2312 - 2311 2011 - 2310 2310 - 2309 2309 - I I $0 $70,512 $141,025 $211,538 $232,051 -1% 1% 3% 594 7% 1034 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed. realfactsonline.comtgi-birVrf-report2.pl?action=report&page=print&reportTitle=8type=3&id2=Dublin:CA 10/12 2/19/13 RealFacts Report REAL4'ACTS Market Overview • Absorption Dublin 4Q2012 Units Absorbed Units Total Occupancy Occupied Units Built Units Rate Units Absorbed 2002 567 2,989 86.2% 2,576 N/A 2003 0 2,989 90.4% 2,702 126 2004 0 2,989 94.6% 2,827 125 2005 0 2,989 95.7% 2,860 33 2006 0 2,989 96.9% 2,896 36 2007 130 3,119 95.4% 2,975 79 2008 305 3,424 94.9% 3,249 274 2009 0 3,424 93.5% 3,201 -48 2010 0 3,424 94.9% 3,249 48 2011 0 3,424 96.1% 3,290 41 2012 0 3,424 95.0% 3,252 -38 274 193 - a, 9 L o 9¢ 113 - r7 c o 32 - . , Ii I I -0B relti 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed. realfactsonline.corrVcgi-birVrf-report2.pl?action=report&page=print&eportTitle=&type=3&id2=Dublin:CA 11/12 2/19/13 RealFacts Report REAL/FACTS. Market overview Area Analysis Dublin 4Q2012 Zipcode Communities o/ of Total occupan y Yr/Yr Change Rent Yr/Yr Change 94568 13 100.0% 95.1% -0.4% $1,898 8.4% 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed. realfactsonline.con✓cgi-bintrf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 12/12 •