Apartment Sales > $450K for January 2015 in Portland Metro

<<<Jan15vsJan14Sales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 in January 2015.  Included are $/unit, $/sqft , unit count, year built and Cap Rate (as reported) and a comparison to Dec 2013 averages.

January 2015 and January 2014 showed a new year’s burst of activity.

The total dollar volume was $164M (Jan 15) vs. $108M (Jan 14).   Jan 15 had TWO large (>100 units) sales and Jan 14 had TWO large sales.

Here are a few projections/trends for 2015 to consider:

• 2014 Total sales $ is the best year ($1.49B thru 31 Dec 14) ever in the Portland METRO
• The rent market continues to be strong, but new inventory is coming on line fast in the high-end
• CapRate is only reported and may or may not be actual.

There are few listings that are well-priced and a lot of deals are being done “off-market”.  If you are thinking of selling in the next two years, ask us for a valuation with comp sales and financial analysis – A seller’s market is the best time to sell.

2015 returns will be driven by interest rates and operating dynamics (including vacancy rates in higher end, new construction and expenses growing faster than rents.)

If you’d like an early notice of our 5 year (2009-2014) review of the Portland apartment market, let me know and I’ll send an early copy – It should be done first part of March 2015.  If you’d like last years report (2008-2013), I can send a copy now.

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
steve.morris@svn.com  / (503) 970-4593

OR Principal Broker License 2002002054 / WA Managing Broker License 24512

Individual Portland Apartment Sales >$450K – First Half 2014 and Projections

<<<2014-FirstHalf_PortlandArea_AptSales>>>

RIGHT-CLICK ABOVE LINK (and SAVE LINK AS) TO DOWNLOAD THE DETAILED REPORT

Attached is a list of individual Portland-area sales of apartment complexes greater than $450,000 for January-June 2014.  Included are $/unit, $/sqft , unit count, year built and Cap Rate (as reported) and a comparison to 2009-2014 averages and a 2014 projection.

• There is a lack of inventory which means buyers are driving prices. However, most likely any market change will be related to an interest rate rise.
• Clark county has had a large drop in sales from 2013 so far. However, 2013 had several large sales.
• Clackamas county should have a large jump in sales due to several large sales near Clackamas Town Center.
• Multnomah county took a large jump in $/unit average pricing so far in 2014, this is driven by one large sale at $450K/unit.
• $/sqft and CapRates have remained constant. However, CapRates are REPORTED and not available in all cases.  Prime properties in prime locations are <5% CapRates
• While total transaction dollars are probably going to equal 2013 (as of now), total transaction count and total individual units project down from 2013.

We will be posting in the near future:

– A XLS with new apartment construction from 2013 thru estimated 2016 with addresses

As always, if you’d like earlier copies, let me know.

If you’d like more information on:

– Details/background on individual sales 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
steve.morris@svn.com  / (503) 970-4593

OR Principal Broker License 2002002054 / WA Managing Broker License 24512