Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – April 2014 | 22 May 2014

<<<Portland Multi-Unit Apr14vsApr13 Sales>>>

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

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

$/unit is higher due to larger complexes skewing weighed averages.  In addition, average const date for Apr 14 sales is 1990 (vs. 1972 for Apr 13.)  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.

If you’d like details on any of these sales, please contact me by phone/eMail.

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