Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – March 2014 | 29 April 2014

<<<Portland Apartment Sales – March 2014>>>

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 March 2014.  Included are $/unit, $/sqft , unit count, year built and Cap Rate (as reported) and a comparison to March 2013 averages.

March 2014 (vs. March 2013) show pretty much the same pattern and metrics.    March 13 had TWO large (216 units in Beaverton and 266 units in Portland – SubEast) sales and Feb 14 had ONE large sale.

In general, the market is mirroring performance of last year.  Projected total sales for 2014 look to be close to the $1.1B tracked in all of 2013.  The major issue now is the availability of listings, especially in the downtown core and Beaverton-Hillsboro that are reasonably priced.

We’ve written an article for NREI on “Macro Trends Drive Micro Apartments” and it is available for download at:

 https://portlandapartmentsales.com/2014/04/11/nrei-article-macro-trends-drive-micro-apartments/

It goes over design issues on construction of smaller apartments and where to expect demand from tenants.  There is a growing section of renters looking for space like this and it does cut across demographics.

If you’d like more information on:

– Details/background on individual sales in the report or

– A 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