Buying, selling and operating apartments in Portland

Portland Apartment Sales > $450K in June 2015 | 30 July 2015



Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 in June 2015.

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

2015 is shaping up to be the reverse of 2009.  In 2009, there were no buyers, now in 2015 the sellers have become scarce. In 2009, contrarians (buyers) in most cases have probably doubled their money if they sold today.  Will 2015 reward today’s sellers with a long-term peak in pricing?  While we don’t anticipate the cataclysm that was 2009, large owners are selling and locking in some very nice gains and atoning for buying at above-market prices prior.

Well, June 2015 would’ve been a good year not that long ago with $354M in sales in the 4-county area.  This is a 80% increase over June 2014.  Total 2015 sales project to be $2B vs. June 2014 sales of $1.5B

June 15 had a huge increase in sales over June 14. June 15 had 20 sales for a $60M total vs 12 sales in June 14 for a $15.6M total.  YTD shows about a 86% increase over 2014 YTD sales in terms of dollar volume.  June 15 had SEVEN large (>100 units) sales and June 14 had THREE large sales.

Again, a lot of the pricing and volume is being led by large sales.  However, <100 unit complexes are achieving record pricing in $/sqft and $/unit – Especially well-located properties.

If you’d like a further breakdown on how in-demand your neighborhood is call.  Be aware of the current value of your apartment with unsolicited offers.  We offer valuations that include expense analysis with rent and sales comparables to back up any pricing.

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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