Buying, selling and operating apartments in Portland

Tenant Engagement Considerations

27 June 2019
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A local attorney, Jeffrey Bennett of Warren Allen, has 20+ years of experience in dealing with tenant and landlord issues in Portland.

He’s written a very useful article on the subject you can download at the link below (right-click to save):

 

<<<Winning Court Strategies_Jun19>>>

 

Whether you’re an owner or manager this article is very useful.  Jeff goes over basics like:

  1. Forms and the need to keep current

  2. Delivery options and timelines

  3. 30-/90-day notices

  4. Filling in forms correctly

  5. For cause notices

  6. Charges, late and partial payments

  7. Preventing mistakes and giving yourself the best case

  8. Deposits, charges and dealing with tenant requests

 

I assure you it’ll be the best (not being over-dramatic) 30 minutes of your time invested in your apartments.

The environment for landlords was difficult and new rules don’t make it easier.  Being knowledgeable is a minimum requirement for successful landlords today.

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Portland Apartment Sales – April 19

31 May 2019
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Apr19vsApr18_AptSales>>>

 

Highlights:

  • Gross sales dollars April 19 YTD = $431.4M is a 25% DECREASE over April 18 YTD = $575M
  • $/unit April 19 YTD = $171K is a 4% DECREASE over April 18 YTD = $177K.
  • $/SqFt April 19 YTD = $198.01 is a 10% DECREASE over April 18 YTD = $220.69
  • CapRate April 19 YTD = 5.48% is a 4.6% INCREASE over April 18 YTD = 5.24%

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 Market – 2013-2018 Annual Report

11 April 2019
1 Comment

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

<<<PortlandAptHistory_2013-2018_11Apr19>>>

Highlights / Contents:

  • 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

Please contact me:

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

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Portland Apartment Sales – Jan 19

1 March 2019
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To download the individual sales report, right-click the link below and “Save As”:

 

<<<Portland_Jan19vsJan18_AptSales>>>

 

Highlights:

  • Gross sales dollars Jan 19 YTD = $97M is a 41% DECREASE over Jan 18 YTD = $163M
  • $/unit Jan 19 YTD = $161K is a 7% DECREASE over Jan 18 YTD = $174K.
  • $/SqFt Jan 19 YTD = $199.75 is a 27% DECREASE over Jan 18 YTD = $271.89
  • CapRate Jan 19 YTD = 5.33% is a 0.2% INCREASE over Jan 18 YTD = 5.32%

Biggest item is the effect of the newest OR rent control law passed by the Legislature.  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats/motivators.

I should have a 2013-2018 Portland Apartment Market History by mid-Mar 19.  If you’d like more information on 2012-2017 Portland Apartment Market history.  Is posted at:

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– 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


Portland Apartment Sales – Nov 18

21 December 2018
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<<<Portland_Nov18vsNov17_AptSales>>>

Highlights:

  • Gross sales dollars Nov 18 YTD = $2163M is a 62% INCREASE over Nov 17 YTD = $1335M
  • $/unit Nov 18 YTD = $188K is a 10% INCREASE over Nov 17 YTD = $171K.
  • $/SqFt Nov 18 YTD = $219.22 is a 12% INCREASE over Nov 17 YTD = $195.91
  • CapRate Nov 18 YTD = 5.32% is a 1.3% DECREASE over Nov 17 YTD = 5.39%

Including all sales, we are at a run rate of $2.4B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats/motivators.

If you’d like more information on 2012-2017 Portland Apartment Market history.  Is posted at:

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– 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


Portland Apartment Sales – Aug 18

27 September 2018
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_Aug18vsAug17_AptSales>>>

Highlights:

  • Gross sales dollars Aug 18 YTD = $1355M is a 43% INCREASE over Aug 17 YTD = $950M
  • $/unit Aug 18 YTD = $190K is a 11% INCREASE over Aug 17 YTD = $171K.
  • $/SqFt Aug 18 YTD = $2216.87 is a 10% INCREASE over Aug 17 YTD = $197.19

We had a stronger month vs. Aug 17 due to several large sales.  Including all sales, we are at a run rate of $2.0B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at 

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– 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.

– 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

Please contact me:

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

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Portland Apartment Sales – July 2018

31 August 2018
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To download the individual sales report, right-click the link below and “Save As”:

<<<Portland_July18vsJuly17_AptSales>>>

Highlights:

  • Gross sales dollars July 18 YTD = $1092M is a 44% INCREASE over July 17 YTD = $759M
  • $/unit July 18 YTD = $189K is a 13% INCREASE over July 17 YTD = $167K.
  • $/SqFt July 18 YTD = $222.62 is a 15% INCREASE over July 17 YTD = $194.15

BESIDES TWO LARGE SALES – We had a weak month vs. July 17.  Without these, we’d be at $61M gross sales for July 18.  Including all sales, we are at a run rate of $1.8B in annual sales rate (vs. $1.7B for 2017 and $2.95B for 2016).  Interest rates and strength of the rental market in Portland (especially for new construction) are the biggest threats.

The $206M sale will probably be about 11-12% of total year gross sales for 2018.

If you’d like more information on:

– 2012-2017 Portland Apt Market history.  Is posted at 

https://portlandapartmentsales.com/2018/03/22/portland-apt-market-2017-annual-report/

If you like numbers, you’ll find this recap of the market for the past 5 years of interest.  You can eMail me for a copy also.

– 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.

– 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

Please contact me:

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

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Portland Apt Market – 2017 Annual Report

22 March 2018
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To download the individual sales report, right-click the link below and “Save As”:

<<<PortlandAptHistory_2012-2017_14Mar18>>>

Highlights / Contents:

  • 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

Please contact me:

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

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


Oct 2015 Apt Sales Portland-Metro

3 December 2015
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For detail on individual sales, please download the PDF at:

<<<Oct15vsOct14Sales>>>

(Right-click link and Save As)

Oct 2015 had $210M in sales in the 4 (OR – Washington, Clackamas and Multnomah and WA – Clark) counties.  This is a 8.4% decrease from Oct 2014 ($230M).

It is official, in terms of total sales dollars, 2015 is highest year ever.  Oct 15 YTD at $2B has easily surpassed 2014 FY sales of $1.6B

Oct 2015 had $210M in total sales.  Highlights:

  • CapRates reported are still in the mid 5% compared to 2014 in the low 6% range. 

  • $/sqft and $/unit. $/unit Oct 15 YTD is a 13% increase over Oct 14 YTD. $/SqFt Oct 15 YTD  is a 17% increase over Oct 14 YTD.

  • Projected FY 2015 sales = $2.35B vs. 2014 sales of $1.6B (previous best ever year)

Interest rate environment – Probabilities favor an increase by the Fed by EOY.  Then again, stop me if you’ve heard this one before.

Portland backlash – City of Portland enacted a 90-day notice rule for rent increases >5%.

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

All Sperry Van Ness®Offices Independently Owned and Operated

For the Oregon Real Estate Agency Pamphlet click here.
For the Washington Real Estate Agency Pamphlet click here. 


2009-2014 Portland Apartment Market Sales History

12 March 2015
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<<<Portland Apartments Market History_13March15>>>

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

We’ve generated our annual 5 year history of the Portland apartment market covering sales >$450K in Clark (WA), Clackamas (OR), Multnomah (OR) and Washington (OR) counties

Topics include:

  • Current Market overview
  • 2009-2014 Portland market notes
  • 2015 Futures/Trends
  • 2014 Sales by County (Averages / Largest)
  • 2009-2014 Sales by Neighborhood, Complex Size and Decade Built

Any suggestions to make the report more readable are always appreciated.

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


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