Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – May 2012 | 10 July 2012

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Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in May 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to May 2011 averages.

May 2012 is the first month in a long time without any large (>50 units) sales.  The sales figures show about a 10% increase in the metrics ($/unit and $/sqft) over 2011.

The Portland rental market and continuing down/bottoming trend in interest rates are still driving operating metrics in a positive direction for landlords.

New construction permits are showing a potential of 10,000 new units being added to inventory (mostly close-in Portland).  However, these shouldn’t compete with existing stock due to the cost of building, especially govt “go-away” fees, that make it difficult to offer competing rents.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using FInancial Analysis

Please contact me:

Steve Morris – Senior Advisor Multi-Units
Sperry Van Ness – Bluestone & Hockley
steve.morris@svn.com (503) 970-4593

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