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Home My WebLink About8.1 SB 343 Smoking Pollution Apt HousingI 2-19-13 :w �cnate f3iff 3-'c3 mandates suppieme��taf materiaf� tftat nave bee« received by the City Clerk's oiiice that relate to an agenda item after the agenda: packets Brave- been distributed to tf�e City Council be available to the public. the attacfrc-d documc-nts ��fere recc-ived in tl-�e Cfty �ferk's offiice a ier distribution of the February 19, 2013 City Council meeting agenda packet. 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 Rental 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.oria +++++++++++++++++++++++++++++++++++ E 2119/13 RealFacts Report OR A ACT 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 973% 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 009% 4. Newark 12.3% 4. Fremont 0.8% 5. Berkeley 10.4% 5. Emeryville 0.6% 6. Fremont 9.8% 6. Union City 0,5% 7. Hayward 8.6% 7. Hayward 0.3% 8. Dublin 8.4% 8. Pleasanton 0.2% 9. Alameda 8.0% 9. Livermore 0.1% 10. Pleasanton 7.7% 10. Alameda 0.1% 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 42.1% 2/19/2013 Data source: RealFacts (415)884.2480. Data is deemed reliable but accuracy cannot be guaranteed, realfactsonli ne.com/cg i-bi Nrf-report2.pl?action=report&pag a=pri nt&reportTitle=&type=3&id2=Dublin:CA 1/12 2/19/13 Real Facts Report REA ACTS Market Overview 4Q2012 Alameda County is 1 of 5 counties in San Francisco -Oakland -Fremont CA MSA Rent ranking for counties in San Francisco -Oakland -Fremont CA MSA County Avg Rent 1. San Francisco $2,741 Z. San Mateo $2,128 3. Marin $1,985 4. Alameda $1,636 5. Contra Costa $1,433 Rent growth %Rankings Yr. overYr. for counties in San Francisco -Oakland -Fremont CA MSA County Avg Ren 1. San Mateo 11.6°/ 2. Alameda 9,7°/ 3. Marin 8.60/ 4, Contra Costa 7.0°/ 5. San Francisco 5.80/ $1,t32� Average Rents Q y VI At C E t2 Occupancy ranking for counties in San Francisco -Oakland -Fremont CA MSA County Avg Occ, 1. Alameda 96.6% 2. San Mateo 95,9% 3. Marin 95,9% 4. San Francisco 95.6% 5. Contra Costa 95.3% Occupancy growth Rankings Yr. overYr. for counties in San Francisco -Oakland -Fremont CA MSA t County Avg Occ. 0 1. Alameda 0.3% 0 2. Contra Costa -0.1% 0 3. San Mateo -0.2% 0 4. San Francisco -0.7% 0 5. Marin -1.2% 7�4'0 Average Occupancy f � I� I � I i 1 iLIT I � realfactsonline.con�cg i-biNrf-report2.pl?action=report&pag e=print&reportTitle=&type=3&id2= 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.corr>/cg i-biNrf-report2.pl?action=report&pag e=print&reportTitle=&type=3&id2=Dubli n:CA 3/12 2/19/13 RealFacts Report REA 'ACTS 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) CSi`nCh"Tc )'i:. Benchmark Average Benchmark Averaq? BevichniarkANeq, PE)W Avq uc-sJ: % ni hSi„ S . Fi Avg Sc Ft 1:.1 :i: Avg, Rerit S . F i II 31424 100,0% 10080% 904 845 $1,898 $1,521 $2,10 $1480 Urban Loft 24 0.7% 021% 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 'r 1bd ibd lbth 11438 42.0% 39.0% 734 701 $1,638 $1,388 $2,23 $1.98 ibd 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 $1A8 2bd 1.5bth 2bd 2bth 11329 38.8% 26.2% 11019 11016 $2,098 $1,762 $2.06 $1.73 2bd 2.5th 2bd TH 60 1.8% 393% 1,324 11081 $2,390 $1,802 $1461 $1.67 3bd lbth 2 041% 0.2% 11020 11006 $1,600 $1,356 $1.57 $1,35 3bd le5bth 3bd 2bth 114 3.3% 3.5% 11253 11232 $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 bd 5bd 2bth 5bd TH Age of Existing Inventory Area; IJUDlin Benchmark: Nor Cal Region ■ Pre 196as () ■ 196as (1} ■ 1970s () ❑ 1980s (4) 1990s (4) 2000s (4) ® Pre 1960s (47) ■ 1960s (4aa} ■ 1970s (559) ❑ 1980s (493) ❑ 1990s (169) 2a00s (236) realfactsonline.corn�cg i-biNrf-report2.pl?action=report&pag e=print&reportTitle=&iype=3&id2= Dublin:CA 4/12 2/19/13 Facts Report 2/19/2013 Data source: RealFacta (415)884.2480. Data Is deemed rellable but accuracy cannot be guaranteed, realfactsonl ine.corrdcg i-biNrf-report2.pl?action=report&pag e=print&reportTitle=&type=3&id2=Dublin:CA 5/12 2/19/13 Real Facts Report REALFACTS Market Overview Rental Trends for City Dublin All Classes QuarterlyTrend Average Asking Rent t!. :1._ 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 $1,399 = OR .ONE am " "- - WWOU $1,300 PP.r 4Q2010 1 Q2Cd 1 2Q2311 3Q2011 4Q2311 1 Q2Cd 2 2Q2012 3Q2012 4Q2012 Search Criteria - - Benchmark: Nor Cal Region Average Occupancy Rate 4[)2010 1O2011 2Qzi.t 3(22011 2,OJ.1 1Q20J.-C :GCI24)s' Yr, Cllanci' AVERAGE 95.4% 96.3% 97.2% 95.5% 95.5% 94.1% 95.6% 95.2% 95sl% -0.4% °�h 9� 97°,6 93% gl% 89% 87% 85 % 4Q2010 1 Q2Cd 1 ZQ2G11 3Q2Cd 1 4Q2i111 1 Q2Cd 2 2Q2012 3Q2Cd 2 4Q2]12 Search Criteria - - Benchmark: Nor Cal Region realfactsonline.corr✓cg i-bi Nrf-report2.pl?action=report&pag e=print&reportTiUe=&type=3&id2=Dublin:CA 6/12 2/19/13 Facts Report 1/19/2013 Data source: RealFacts (415)884.2480. Data Is deemed reliable but accuracy cannot be guaranteed, realfactsonli ne.corNcg i-biNrf-report2.pl?action=report&pag e=print&reportTiUe=&type=3&id2=Dublin:CA 7/12 2119/13 Facts Report RKAIaVACTS Market Over Rental Trends for City Dublin All Classes Annual Trend Average Asking Rent _. 005 2006 20t)7 :Yi}q 1 <'.9-a 20W "l, '1 2O11 1'u. Cital:gc 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 1105% 1bd 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,ES1 ►+ $1,340 SU POOP PP momw r WE PP% mm r PO / $1J170 r am P=0 .. $1ra00 aao4 2aa5 aaa6 2o07 Search Criteria �c� aaa9 2a1a zaii 2a12 Benchmark: Nor Cal Region Average Occupancy Rate 2004 IUOS 2006 1007 2008 2009 2010 20].1 2017 . ilk AVERAGE 94.6% 95.9% 97.0% 95.5% 9499% 93.5% 94.9% 96.1% 95.0% 0,2% 99°�u 979io 89% 87% 85% rr--- r� .. 2004 2a05 20Q6 2J07 2006 2]a9 2010 2ti11 2012 Search Criteria - - Benchmark: Hor Cal Region realfactsonline.corrVcg i-biNrf-report2.pl?action=report&pag a=print&reportTitle=&type=3&id2=Dublin:CA 8/12 2119/13 Real Facts Report 2/19/2013 Data source: RealFacts (415)884.24809 Data Is deemed reliable but accuracy cannot be guaranteed, realfactsonl i ne.corrYcg i-biNrf-report2.pl?action=report&pag e=print&reportTitle=&type=3&id2=Dublin:CA g/12 Y119/13 RealFacts Report REA 'ACTS Market Overview Sales Trends for City Dublin 2009-2012 , All Classes 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 iedian Year Built Average Square Footage 350,868 350,868 Average Sale Price $110,000,000 $79,700,000 Ave rage Price Per Square Foot $313.51 $227,15 Average CAP Rate Ave rage GRIM Ave rage Units 390.0 390.0 Average Price Per Unit $282,051 $204,358 7i1 rh=6 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 2011 2J10 2009 Cap Rate $u $1C1,51Z $141,OQ5 $211,538 $�32,051 -1�•a 1°,io 39'a San 7% 1G°r'n 2/19/2013 Data source: RealFacts (415)884.2480. Data Is deemed reliable but accuracy cannot be guaranteed . realfactsonli ne.corrycg i-bi Nrf-report2.pl?action=report&pag e=print&reportTitle=&type=3&id2= Dublin:CA 10/12 2119/13 RealFacts Report REA ACTS Market Overview Absorption Dublin 4Q2012 Units Absorbed l�ipi: 141' tll �jYc. :- d 2002 567 21989 86.2% 21576 N/A 2003 0 2,989 90,4% 21702 126 2004 0 2,989 94.6% 21827 125 2005 0 21989 95.7% 21860 33 2006 0 21989 96.9% 21896 36 2007 130 31119 95,4% 21975 79 2008 305 31424 94.9% 31249 274 2009 0 31424 93,5% 31201 -48 2010 0 31424 94.9% 31249 48 2011 0 31424 96.1% 31290 41 2012 0 31424 95.0% 31252 -38 274 193 32 0 2/19/2013 Data source: RealFacts (415)884.2480. Data Is deemed reliable but accuracy cannot be guaranteed. realfactsonli ne.corr'✓cg i-biNrf-report2.pl?action=report&pag e=print&reportTitle=&type=3&id2=Dublin:CA 11/12 2119/13 RealFacts Report RECAACTS Market Overview Area Analysis Dublin 4Q2012 !, Communities °/n of `total NV ' Yr /Yr Change Avg. Yr JYr Change r�, S; ni 94568 13 100.0% 95A% -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.corrt�cgi-birt/rf-report2.pl?action=report&page=print&reportTitle=&type=3&id2=Dublin:CA 12J12