Buying, selling and operating apartments in Portland

Portland Apartment Sales – March 19 | 2 May 2019

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

 

<<<Portland_Mar19vsMar18_AptSales>>>

 

Highlights:

  • Gross sales dollars March 19 YTD = $367.2M is a 29% DECREASE over March 18 YTD = $515M
  • $/unit March 19 YTD = $178K is a 4% INCREASE over March 18 YTD = $171K.
  • $/SqFt March 19 YTD = $203.44 is a 13% DECREASE over March 18 YTD = $232.77
  • CapRate March 19 YTD = 5.56% is a 6.7% INCREASE over March 18 YTD = 5.21%

The big drop in $/unit and gross dollars is due to NO large (>100 unit) sales.

City of Portland rules are also giving pause to owners.  Pricing is getting hardest hit on new construction (excess of inventory) and older (pre-1927 URM) buildings along with Portland proper.

However, even with pricing pressure there are positive things making apartments an attractive investment:

  • Interest rates are still low and in the low 4% range
  • Rents are still increasing and vacancies are about 5% on average

The 2013-2018 Portland Apartment Market History is available on the WEBsite at:

https://portlandapartmentsales.com/2019/04/11/portland-apartment-market-2013-2018-annual-report/

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be helpful if you’re making decisions about futures or operations and includes I&E comparison to neighboring properties along with recent sales and rent comparables.

Steve Morris | Vice-President
IMG Northwest
1234 SW 18th, Suite 102
Portland, OR 97205
Phone: 503.970.4593 
steve@imgnorthwest.com | www.imgnorthwest.com
OR License # 200202054 | WA License # 24512

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