Individual Portland Apartment Sales >$450K – Oct 2012

<<<October12vsOctober11_PortlandArea_AptSales>>>

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

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in October  2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to September 2011 averages.  October 2011 had 2 sales greater than 100 units each that  skews the averages.

Year-over-year – October 2012 shows a nice increase in all sizes of apartments with total transactions (14 – Oct 12 vs. 9 – Oct 11) and a CapRate decrease (5.46% – Oct 12 vs. 6.85% – Oct 11).

Albeit, the CapRate decrease is driven by 3 large sales of which one is a true trophy property (downtown Portland and river front.)

The lure of low finance rates is starting to be realized by smaller buyers also which drives transaction volume.

Whether you keep or sell your property, you need to focus on increasing the net income to you or any future buyer!

If you’d like more information on:

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – Sept 2012

<<<Sept12vsSept11_PortlandArea_AptSales>>>

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

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in September  2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to September 2011 averages.  September 2011 had 3 sales greater than 100 units each that  skews the averages.

In general, buyers are still picky about returns on properties, so if you do have issues with your property like deferred maintenance or low rents, it behooves you to remedy them before you list.

In addition, your tenants usually aren’t any better looking than your property.

Whether you keep or sell your property, you need to focus on increasing the net income to you or any future buyer – Always!

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – Aug 2012

<<<Aug12vsAug11_PortlandArea_AptSales>>>

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

Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in August  2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to August 2011 averages.  August 2011 had 2 sales that totaled almost $70M which skews the averages.

Aug 2012 had one large (202 units) sale.  In comparison to Aug 2011 there were 2 large (>100 unit) sales (one senior housing project at a high cap rate and one market-rate complex).

However, we look to be about 75% of what was sold in 2011 in terms of projected total sales dollars by year end.  Other indicators:

CapRate = 6.86% (vs. 6.84% in FY2011)

$/unit = $91,776 (vs. $83,898 in FY2011)

$/unit = $91,776 (vs. $83,898 in FY2011)

$/sqft = $106.53 (vs. $96.06 in FY2011).

While CapRates remain constant, price inflation can be attributed to a very healthy rental market with low vacancies which means more income.

While there are lots (approx. 8,000) of units planned, due to 2012 soft costs, it’ll be hard for them to compete with existing rental stock (i.e. a new 2 bed may have to rent for $2000/month to pay the mortgage).

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – July 2012

<<<July11vsJuly12_PortlandAptSales>>>

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

Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in June 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to July 2011 averages.  July 2011 had 3 sales that totaled almost $75M which skews the averages.

July 2012 is the third month in a row without any large (>100 units) sales.  A comparison to July 2011 is difficult since there were 3 large sales in Jun 11 and none in Jun 12, however, sales figures seem flat.

However, we look to be about 75% of what was sold in 2011 in terms of projected total sales dollars.  Other indicators:

CapRate – 2012 reported is averaging almost exactly what 2011 is so far at about 6.8% overall

$/sqft and $/unit – 2012 is running higher than 2011.  For reported sales thru today, $/unit = $94,223 (vs. $84,893 in 2011) and $/sqft = $106.63 (vs. $97.37 in 2011).

While CapRates remain constant, price inflation can be attributed to a very healthy rental market with low vacancies.

While there are lots (approx. 8,000) of units planned, due to 2012 soft costs, it’ll be hard for them to compete with existing rental stock (i.e. a new 2 bed may have to rent for $2000/month to pay the mortgage).

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – June 2012

<<<Jun12vsJun11_PortlandArea_AptSales>>>

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

Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in June 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to June 2011 averages.  June 2011 had 3 sales that totaled almost $100M which skews the averages.

June 2012 is the second month in a row without any large (>50 units) sales.  A comparison to June 2011 is difficult since there were 3 large sales in Jun 11 and none in Jun 12, however, sales figures seem flat.

However, we look to be about even with what was sold in 2011.  Below are projected numbers for 2011 vs. projected 2012 (based on numbers thru June 2012 annualized):

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – May 2012

<<<May12vsMay11_PortlandArea_AptSales>>>

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

Above is a table of individual Portland-area sales of apartment complexes greater than $450,000 in May 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to May 2011 averages.

May 2012 is the first month in a long time without any large (>50 units) sales.  The sales figures show about a 10% increase in the metrics ($/unit and $/sqft) over 2011.

The Portland rental market and continuing down/bottoming trend in interest rates are still driving operating metrics in a positive direction for landlords.

New construction permits are showing a potential of 10,000 new units being added to inventory (mostly close-in Portland).  However, these shouldn’t compete with existing stock due to the cost of building, especially govt “go-away” fees, that make it difficult to offer competing rents.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – April 2012

<<<Apr12vsApr11_PortlandArea_AptSales>>>

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

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in April 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to April 2011 averages.

There was 1 large transaction of 440 units.   However, they were in the Beaverton area which is almost to the levels of close-in Portland for rental demand and potential for growth.  In April 2011, there were 3 transactions of complexes > 500 units which skewed sales averages.

In general, $/sqft is trending up along with average CapRate trending down.  This is directly related to the strength of the Portland rental market and continuing down/bottoming trend in interest rates.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – March 2012

<<<Mar12 vs Mar11 PortlandArea Apt Sales>>>

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

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in March 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to March 2011 averages. 

There were 2 large transactions >200 units, both in outlying suburbs of Portland.   However, they were in the Beaverton area which is almost to the levels of close-in Portland for rental demand and potential for growth.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The lure of low interest rates is slowly thawing buyer hesitancy.

If you’d like more information on:

– A comparative analysis of your property vs. your neighborhood with specific comp properties for sale and listed and a rent survey, or

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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

Individual Portland Apartment Sales >$450K – February 2012

<<<Feb12 vs Feb11 Portland-Area Apartment Sales>>>

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

Attached is a table of individual Portland-area sales of apartment complexes greater than $450,000 in Febuary 2012. We’ve included $/unit, $/sqft , unit count, year built and CapRate (as reported) and a comparison to February 2011 averages. 

There were 2 large transactions >200 units, both in outlying suburbs of Portland. 

The ongoing love affair with larger urban properties continues.  Is this a “hot” market?  If you own larger Class A apartments, the answer is yes and your only issue is selecting the best offer.

Sellers – You need to make sure your NOI is the best it can be if you want top dollar and demand.  We can help you:

– Find out where you stand today compared to your competition

– What to work on to increase income

Buyers – A ‘hot” market can be good or bad.  You need to understand what you are buying and have a game plan to make it profitable for you.

Smaller investors are still hesitant, but are coming back into the market. The factors driving growth in sales include:

– Low vacancy rates (<4% in Portland proper)

– Low interest rates (7-/10-year money available at <5%).  Right now, the spread between CapRates and prevailing interest rates is at high point which bodes well for buyers.

If you’d like more information on:

– Analyzing your property to maximize your income to see how you can make more money or get a higher sales price, or

– Details/background on individual sales in the report, or

– 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