Buying, selling and operating apartments in Portland

Individual Portland Apartment Sales >$450K – Nov 2014 | 29 December 2014



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

Nov 2014 (vs. Nov 2013) shows a flat market.  The total dollar volume was $92M (Nov 14) vs. $106M (Nov 13).   Nov 13 had TWO large (>100 units) sales and Sept 14 had THREE large sales.

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

  • Total sales $ will be the best year ($1.32B thru 30 Nov 14) with projections of $1.4B total in the Portland METRO
  • Individual transactions are at 179 thru 30 Nov14.
  • $/unit and $/sqFt will reach a record.  CapRate is only reported and difficult to confirm.

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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