December 2015 Portland Apartment Sales | 28 January 2016

To download the individual sales report, right-click the link below and “Save As”:

<<<PortlandAptSales_Dec15>>>

Highlights:

• CapRates reported are still in the mid-high 5% compared to 2014 in the low 6% range. 
• $/unit Dec 15 YTD is a 13% increase over Dec 14 YTD.
• $/SqFt Dec 15 YTD  is a 18% increase over Dec 14 YTD.
• Final FY 2015 sales = $2.3B vs. 2014 sales of $1.6B (previous best ever year)

Interest rate environment – While there has been an increase in the base rate, this hasn’t made much difference in finance rates on apartments which are still a bank favorite lending target.  The cloud of a potential recession should shut down any rate increase for the foreseeable future.

Landlord/Tenant Changes – City of Portland enacted a 90-day notice rule for rent increases >5%.  Effective 1 January 2016, Oregon has enacted tenant law changes also.  If you’d like a copy of a presentation by Leah Sykes of Bittner-Hahs attorneys, please download it at:

https://portlandapartmentsales.com/2015/11/25/oregon-portland-new-rules-for-apt-owners/

YOUR PROPERTY – 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
Sperry Van Ness | Bluestone & Hockley
9320 SW Barbur Blvd, Suite 300
Portland, OR 97219
Phone: 503.970-4593 | Fax: 503.222.6459
steve.morris@svn.com | www.svnbluestone.com
OR License # 200202054 | WA License # 24512

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For the Washington Real Estate Agency Pamphlet click here.