Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – Nov 2012 | 4 January 2013

<<<Nov12vsNov11_PortlandArea_AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in November  2012.  We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to November 2011 averages.  November 2011 had 3 sales greater than 100 units that  skews averages.

NOTES:

Fewer large sales so far this year.  In Nov 12 one large (>100 units) sold.  In Nov 11, 3 large complexes sold.  So far in 2012 the average sold complex size is 44.5 units, in 2011 it was 64.5 units.

Hot Markets – Multnomah county and Beaverton-Hillsboro are in demand due to jobs, average income and proximity to amenities

CapRates – While sales of smaller complexes are picking up, most of the down pressure on CapRates is driven by larger sales and institutional buyers.  There is an abundance of money looking for a better return and in tax-sheltered investments like apartments.

NEXT MONTH – In addition to a Dec 12 summary, we’ll be posting a 2012 full-year summary with comments.  If you’d like an earlier copy, eMail me and I can send under separate cover when done.

If you’d like more information on:

– 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