Buying, selling and operating apartments in Portland

Portland Apartment Sales – Apr 20

29 May 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Apr20vsApr19_AptSales >>>

 

Highlights:

  • Gross $ Apr 20 YTD = $528M is a 26.5% INCREASE from Apr 19 YTD = $418M

  • $/unit Apr 20 YTD = $199.4K is a 14.7% INCREASE over Apr 19 YTD = $173.8K.

  • $/SqFt Apr  20 YTD = $237.44 is a 7.5% INCREASE over Apr 19 YTD = $201.85

 

The 2014-2019 Portland Apartment Market History is available on the WEBsite at:

 

 

https://portlandapartmentsales.com/2020/03/12/portland-apartment-market-2014-2019-annual-report/

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

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 | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Portland Apartment Sales – Mar 20

1 May 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

<<< Portland_Mar20vsMar19_AptSales>>>

 

Highlights:

  • Gross $ Mar 20 YTD = $493M is a 40.7% INCREASE from Mar 19 YTD = $351M

  • $/unit Mar 20 YTD = $182.8K is a 1.9% INCREASE over Mar 19 YTD = $179.3K.

  • $/SqFt Mar 20 YTD = $214.19 is a 3.8% INCREASE over Mar 19 YTD = $206.44

 

The 2014-2019 Portland Apartment Market History is available on the WEBsite at:

 

 

https://portlandapartmentsales.com/2020/03/12/portland-apartment-market-2014-2019-annual-report/

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

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 | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


MMHA Forms for Rent Forbearance – Oregon

10 April 2020
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Right-click to download

 

<<<MMHA_ RentForbearanceRequest_Form>>>

<<<MMHA_ RentForbearanceAgreement_Form>>>

<<<MMHA_ RentBalanceReminder_Form>>>

MMHA [Metro Multi-Family Owners Association} (if you can join, it is a great rental owner’s association http://www.multifamilynw.org), has crafted these for use with tenants who request a forbearance on rent payments.

 

You will still need to follow up and enforce them.  However, they can serve as a place to start.  Since COVID is changing how things are handled by the day, these may change, but are a start.  You use them at your own risk.

 

The forms are intended to:

  1. Establish that the tenant is legitimately requesting an extension due to COVID

  2. Establish an agreed-on amount of rents paid and still owing

  3. Provide a reminder of amounts owed for future use to the tenant.

 

 

Steve Morris – Principal Broker

SMI Commercial Real Estate, LLC

3625 River Road N Ste 250 Keizer, OR 97303

O 503.390.6060

C 503.970.4593

steve@smicre.com

www.smicre.com

OR Principal Broker License # 200202054

WA Managing Broker License # 24512

 


IRS – 1031 Extension / 10 Apr 20

10 April 2020
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CHECK WITH YOUR 1031 ACCOMODATOR/QI BEFORE MAKING ANY DECISIONS REGARDING AN EXCHANGE!!!

 

<<<<IRS Notice 2020-23>>>>

(Right-click to download)

 

IRS Notice 2020-23 provides that any 45-day or 180-day deadline that occurs between April 1 and July 15, is automatically extended to July 15, 2020.

 

Therefore, if an Exchanger’s 45-day identification period or 180-day exchange period falls between April 1, 2020 and July 15,2020, the Exchanger will have until July 15 to complete these actions.

 

The extensions are automatic, but not mandatory, and allow the Exchanger to conclude the exchange based on the original deadlines.

 

 

Steve Morris – Principal Broker

SMI Commercial Real Estate, LLC

3625 River Road N Ste 250 Keizer, OR 97303

O 503.390.6060

C 503.970.4593

steve@smicre.com

www.smicre.com

OR Principal Broker License # 200202054

WA Managing Broker License # 24512


Portland Apartment Sales – Feb 20

26 March 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Feb20vsFeb19_AptSales>>>

Highlights:

  • Gross $ Feb20 YTD = $283M is a -10.6% DECREASE from Feb 19 YTD = $317M

  • $/unit Feb 20 YTD = $196.5K is a 5.8% INCREASE over Feb 19 YTD = $185.8K.

  • $/SqFt Feb 20 YTD = $227.80 is a 4.6% DECREASE over Feb 19 YTD = $215.90

The 2014-2019 Portland Apartment Market History is available on the WEBsite at:

 

https://portlandapartmentsales.com/2020/03/12/portland-apartment-market-2014-2019-annual-report/

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

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 | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Portland Apartment Market – 2014-2019 Annual Report

12 March 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<PortlandAptHistory_2014-2019_12Mar20>>>

 

Highlights / Contents of the report include (for the 4 county METRO are) for sold apartments:

  • General Market Comments
  • New Construction Update
  • Sales by County
  • Sales by Neighborhood
  • Sales by Unit Count of project
  • Sales by Decade Built
  • Tabulation of Largest Sales by $/unit, $/SqFt. Gross $, County and 2012-2017 Largest sales.

If you’d like more information on:

– Free financial analysis of your property, eMail/call me for a SAMPLE report.  It will be very 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.

– Details/background on individual sales in the report or a breakdown by neighborhood

– Free copy of our 80-page book – Buying, Selling and Operating Apartments Using Financial Analysis

 

Steve Morris | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


City of Portland F.A.I.R. Downloads – 27 Feb 20

4 March 2020
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I’m offering these for reference from a training presentation courtesy of:

 

Christian Bryant of IRC Enterprises (property management)

(503) 999-0477 / christian@iRCEnterprises.com

 

PHB hired Christian to give these presentations to the general public, so thank him.

 

To download the individual reports, right-click the link below and “Save As”.

 

These are the slides from Christian’s training:

<<<FAIR-Training_Class_26Feb20>>>

 

The following are Portland Housing Bureau (PHB) documents.  Text of the administrative rules:

<<<PHB_AdminRule_RentalHousingApplicationScreening_31Jan20>>>

 

Booklet on new application screening rules:

<<<Applications-Screen_PHB_Jan20>>>

 

Booklet on new security deposit rules:

<<<Security-Deposits_PHB_Jan20>>>

 

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

Steve Morris | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Portland Apartment Sales – Jan 20

28 February 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Jan20vsJan19_AptSales>>>

Highlights:

  • Gross $ Jan 20 YTD = $164M is a 124.2% INCREASE from Jan 19 YTD = $73M

  • $/unit Jan 20 YTD = $203K is a 11.0% INCREASE over Jan 19 YTD = $183K.

  • $/SqFt Jan 20 YTD = $218.28 is a 4.6% DECREASE over Jan 19 YTD = $228.84

* There was ONE large sale that accounted for 60% of total gross sales that did skew numbers.

We should have a 2014-2019 Portland Apartment Market History available by mid-March.

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

 

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 | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Portland Apartment Sales – Dec 19

31 January 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

 

 

<<<Portland_Dec19vsDec18_AptSales>>>

 

Highlights:

  • Gross $ Dec 19 YTD = $2281M is a 9.8% DECREASE from Dec 18 YTD = $2529M

  • $/unit Dec 19 YTD = $183K is a 3.3% DECREASE over Dec 18 YTD = $190K.

  • $/SqFt Dec 19 YTD = $207.92 is a 7.0% DECREASE over Dec 18 YTD = $223.46

 

We should have a 2014-2019 Portland Apartment Market History available by late-February.

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

 

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 | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


Portland Apartment Sales – Nov 19

1 January 2020
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Nov19vsNov18_AptSales>>>

 

Highlights:

  • Gross $ Nov 19 YTD = $2020M is a 10.0% DECREASE from Nov 18 YTD = $2245M

  • $/unit Nov 19 YTD = $184K is a 3.0% DECREASE over Nov 18 YTD = $190K.

  • $/SqFt Nov 19 YTD = $208.76 is a 7.8% DECREASE over Nov 18 YTD = $226.48

 

If you need any info about apartment sales in the Portland – METRO, we have sales data over the past 15 years +.  Feel free to contact me – steve@smicre.com.

 

We should have a 2014-2019 Portland Apartment Market History available by late-February.

 

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 | Principal Broker
SMI Commercial Real Estate
Phone: 503.970.4593 
steve@smicre.com | www.smicre.com
OR License # 200202054 | WA License # 24512


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