Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – Sept 2014 | 31 October 2014

<<<Portland Apt Sales – Sept 2014>>>


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

Sept 2014 (vs. Sept 2013) shows a big Year over Year decline.  The total dollar volume was $29.4M (Sept 14) vs. $172.0M (Sept 13).   Sept 13 had FOUR large (>100 units) sales and Sept 14 had ONE large sale.  The large sales in Sept 2013 did skew averages up since we use weighed averages for $/unit and $/SqFt.

While things are slowing down from 2013, here are a few projections/trends for 2014 to consider:

  • Total sales $ will probably beat the 2012 record of $1.195B dollars with projections of $1.4B total in the Portland METRO
  • Individual transactions will be down from the 2013 record of 319
  • Individual units sold will be down from 2013 record of 14,956 units
  • $/unit and $/sqFt will reach a record

One trend driving this is that some very large sales in prime locations are driving a lot of sales.  Smaller operators are quite happy with returns currently and listings are lower.  A lot of deals are being done “off-market”.

2015 returns will be driven by interest rates and operating dynamics (especially vacancy rates in higher end and new construction) due to an influx of new inventory.

If you’d like to know where you stand today, we can do a very thorough analysis on your property and where you stand compared to your neighbors with sales and rent comparables – Call us.

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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