Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – Dec 2012 | 4 February 2013

<<<Dec12vsDec11_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 December  2012.  We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to December 2011 averages.  November 2011 had 3 sales greater than 100 units that  skews averages.

NOTES:

Huge burst of activity in Dec 2012.  In the Portland metro area 24 complexes (vs. 16 in Dec 11) changed hands.  Probable reason is the increase in Cap Gains rates (15 to 20%) and introduction of a tax/fee (your choice) for “ObamaCare” (approx 3.8% on gains.

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

Interest Rates – Recently the economy has show some initial signs of strength (after four years we should hope so) and long T-bills have begun to drop in price (which means yields go up).  Both of these are indicators of a rise in interest rates.  If you have not locked in a long-term loan on your property – DO IT NOW!

NEXT MONTH – Within two weeks we’ll issue our 2012 activity summary and 2007-2012 history broken down by county.  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