Buying, selling and operating apartments in Portland

Portland Apartment Sales – Aug 19

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

 

<<<Portland_Aug19vsAug18_AptSales>>>

 

Highlights:

  • Gross sales dollars August 19 YTD = $1671M is a 23% INCREASE over August 18 YTD = $1360M
  • $/unit August 19 YTD = $181K is a 4.3% DECREASE over August 18 YTD = $190K.
  • $/SqFt August 19 YTD = $207.68 is a 6.1% DECREASE over August 18 YTD = $221.16
  • CapRate August 19 YTD = 5.45% is a 2.7% INCREASE over August 18 YTD = 5.31%

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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Portland Apartment Sales – July 19

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

<<<Portland_Jul19vsJul18_AptSales>>>

Highlights:

  • Gross sales dollars July 19 YTD = $914.9M is a 16% DECREASE over July 18 YTD = $1089.2M
  • $/unit July 19 YTD = $176K is a 5.9% DECREASE over July 18 YTD = $187K.
  • $/SqFt July 19 YTD = $203.27 is a 7.8% DECREASE over July 18 YTD = $220.53
  • CapRate July 19 YTD = 5.51% is a 3.5% INCREASE over July 18 YTD = 5.32%

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 – June 19

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

<<<Portland_Jun19vsJun18_AptSales>>>

Highlights:

  • Gross sales dollars June 19 YTD = $790.8M is a 13.6% DECREASE over June 18 YTD = $796.8M
  • $/unit June 19 YTD = $176K is a 5.2% DECREASE over June 18 YTD = $186K.
  • $/SqFt June 19 YTD = $202.34 is a 9.7% DECREASE over June 18 YTD = $224.08
  • CapRate June 19 YTD = 5.52% is a 3.4% INCREASE over June 18 YTD = 5.34%

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


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.


Portland Apartment Sales – May 19

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

<<<Portland_May19vsMay18_AptSales>>>

Highlights:

  • Gross sales dollars May 19 YTD = $653.7M is a 13.6% INCREASE over May 18 YTD = $575M
  • $/unit May 19 YTD = $177K is a 0.3% DECREASE over May 18 YTD = $177K.
  • $/SqFt May 19 YTD = $203.91 is a 17.6% DECREASE over May 18 YTD = $220.69
  • CapRate May 19 YTD = 5.47% is a 13.6% INCREASE over May 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 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 Sales – March 19

2 May 2019
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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


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 – Feb 19

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

 

<<<Portland_Feb19vsFeb18_AptSales>>>

 

Highlights:

  • Gross sales dollars Feb 19 YTD = $337.9M is a 4% DECREASE over Feb 18 YTD = $351M
  • $/unit Feb 19 YTD = $186K is a 10% INCREASE over Feb 18 YTD = $169K.
  • $/SqFt Feb 19 YTD = $217.85 is a 12% DECREASE over Feb 18 YTD = $248.28
  • CapRate Feb 19 YTD = 5.54% is a 3.5% INCREASE over Feb 18 YTD = 5.35%

The big jump in $/unit is 3 large sales = 69% of ttal gross sales.

Biggest item is the effect of the newest OR rent control law passed by the Legislature.  City of Portland rules are also giving pause to owners.  Interest rates (stable to flat) 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-Apr 19.  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


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