DOWNEY, CA—The Downey submarket is experiencing strong demand for multifamily housing, according to Chris Keramati, a broker with Investment Property Group. Keramati recently represented the buyers and sellers of two multifamily transactions in the Downey submarket totaling nearly $25 million, GlobeSt.com reports exclusively.

“Downey is the jewel of the whole 605 corridor, and it has the strongest job market of all of the submarkets in that area,” Keramati tells GlobeSt.com. “The demand right now in Downey on buildings that actually go out to market is just astronomical, with significant cap rate compression over the last 12 and even six months. Most buildings that come to market get multiple offers.”

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