Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – Feb 2013 | 26 April 2013

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

Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 in February 2013.  We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to February 2012 averages.  February 2012 had 2 large sales (274 and 255 units) that  skews averages.

Sellers are still not very motivated since returns year-over-year on apartments continue to grow.  We think this year the growth rate in rents will slow and owners should focus on attracting/keeping good tenants and work on keeping expenses well-managed.

NOTES:

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!

We’ve issued our 2007-2012 history broken down by county.  If you’d like a 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