Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – May 2014 | 27 June 2014

<<<Portland May 2014 Apt Sales>>>


Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 in May 2014.  Included are $/unit, $/sqft , unit count, year built and Cap Rate (as reported) and a comparison to May 2013 averages.

May 2014 (vs. May 2013) show pretty much the same pattern and metrics.    May 13 had ONE large (352 units in  Portland – Central) sale and May 14 had NO large sales.  The large sale in May 2013 did skew averages up.

$/unit is higher due to larger complexes skewing weighed averages.  In addition, average const date for May 14 sales is 1968 (vs. 1992 for May 13.)  Projected total sales for 2014 look to be short ($975M) to the $1.17B 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:

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  / (503) 970-4593

OR Principal Broker License 2002002054 / WA Managing Broker License 24512

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