Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – Oct 2014 | 26 November 2014



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

Oct 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).   In Oct 2013 there were TWO large (>100 units) sales (1 in Vancouver and 1 in Gresham).

While things are slowing down from 2013, here are a few projections/trends for 2015 to consider:

  • Total sales $ will probably beat the 2012 record of $1.14B dollars with projections of $1.6B total in the Portland METRO
  • Individual transactions will be about from the same as 2013 (=320 sales)
  • 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 financial 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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