Portland OR | Ashworth Partners

Joe Chaplik at Joseph Bernard Investment Real Estate sent me a summary of apartment building investment transactions for Q3 in the Portland area and surrounding counties:

Transactions in Q3: 39, including 27 in Multnomah County (Portland is the County seat)
Transactions YTD: 114, averaging 38 per quarter.
Total transaction volume Q3: $164,115,807
Total units in Q3 transactions: 1,385
Average price per unit Q3 in Multnomah Co: $100,794; up 49% from year ago.
Q3 average cap rate: 6.32, up from 6.24 last quarter.
80% of the transactions in Q3 were properties with less than 50 units.
See the whole report here.

Portland apartment builidng investment market grows — Admiral Apartments, 37 units, 910 SW Park Ave, Portland, OR

With cap rates 100 basis points higher than Continue reading Portland apartment building investment market grows stronger.

Portland’s recovery in jobs driven by the return of tech and the lure of its funky coolness (see Portlandia) is noted in Kiplinger’s slide show on the 8 Cities with Surprising Job Growth where they’re expecting 130,000 new jobs in the next five years:

Portland to add 130,000 jobs- good for apartment building investment

“After devastating job losses in the recession, Portland has made a spectacular recovery, fueled by the tech mini-boom and the area’s attractiveness to young people. Anchored by Intel and its 16,000 employees, Portland will maintain its moniker as the Silicon Forest for its more than 1,200 high-tech firms, most of them small to medium-size.

High tech will continue to be the fastest-growing sector, but Continue reading Portland OR one of top US cities for job growth- Good for apartment building investments