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Ash Street Courtyard12026 SE Ash, Portland, OR 97216
CONFIDENTIAL OFFERING MEMORANDUM
Contact Details:STEVE MORRISVice President971.888.4010 [email protected]
A Multifamily Investment Opportunity | For Sale | $4,700,000
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
CONTENTS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
CONFIDENTIALITY & DISCLAIMER
PROPERTY INFORMATION 3
FINANCIAL ANALYSIS 6
SALES COMPARABLES 10
RENT COMPARABLES 16
ADDITIONAL INFORMATION 22
LOCATION INFORMATION 27
ADVISOR BIOS 31
All materials and information received or derived from Investors Management Group Northwest LLC its directors, officers,agents, advisors, affiliates and/or any third party sources are provided without representation or warranty as tocompleteness , veracity, or accuracy, condition of the property, compliance or lack of compliance with applicablegovernmental requirements, developability or suitability, financial performance of the property, projected financialperformance of the property for any party’s intended use or any and all other matters.
Neither Investors Management Group Northwest LLC its directors, officers, agents, advisors, or affiliates makes anyrepresentation or warranty, express or implied, as to accuracy or completeness of the any materials or informationprovided, derived, or received. Materials and information from any source, whether written or verbal, that may be furnishedfor review are not a substitute for a party’s active conduct of its own due diligence to determine these and other matters ofsignificance to such party. Investors Management Group Northwest LLC will not investigate or verify any such matters orconduct due diligence for a party unless otherwise agreed in writing.
EACH PARTY SHALL CONDUCT ITS OWN INDEPENDENT INVESTIGATION AND DUE DILIGENCE.
Any party contemplating or under contract or in escrow for a transaction is urged to verify all information and to conducttheir own inspections and investigations including through appropriate third party independent professionals selected bysuch party. All financial data should be verified by the party including by obtaining and reading applicable documents andreports and consulting appropriate independent professionals. Investors Management Group Northwest LLC makes nowarranties and/or representations regarding the veracity, completeness, or relevance of any financial data or assumptions.Investors Management Group Northwest LLC does not serve as a financial advisor to any party regarding any proposedtransaction. All data and assumptions regarding financial performance, including that used for financial modeling purposes,may differ from actual data or performance. Any estimates of market rents and/or projected rents that may be provided to aparty do not necessarily mean that rents can be established at or increased to that level. Parties must evaluate anyapplicable contractual and governmental limitations as well as market conditions,vacancy factors and other issues in orderto determine rents from or for the property.
Legal questions should be discussed by the party with an attorney. Tax questions should be discussed by the party with acertified public accountant or tax attorney. Title questions should be discussed by the party with a title officer or attorney.Questions regarding the condition of the property and whether the property complies with applicable governmentalrequirements should be discussed by the party with appropriate engineers, architects, contractors, other consultants andgovernmental agencies. All properties and services are marketed by Investors Management Group Northwest LLC incompliance with all applicable fair housing and equal opportunity laws.
TABLE OF CONTENTS
2
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
PROPERTY INFORMATION
Executive Summary
Project Highlights
1Ash Street Courtyard12026 SE Ash, Portland, OR 97216
Executive Summary
12026 SE Ash, Portland, OR 97216
ASH STREET COURTYARD
Property Summary:
Sale Price: $4,700,000Number of Units: 47NOI: $279,973Lot Size: 0.45 AcresBuilding Size: 29814 sqftYear Built: 2011Zoning: RHdCap (Actuals): 6.01%Cash-Cash: 5.17%
Property Overview
- All units 60% AMI- 100% Occupancy (accepted apps on vacants- Sub-meters for water on each- W/D connections on each- Buyer to assume existing HUD 223(f) loan
(approx. $3.45M / 3.47% / 35 yr amort)- Current Cap Rate = 6.01% / Cash-Cash = 5.17%- Property Tax Abatement thru 2021
Location
- 1 block walk to MAX light-rail to Downtown- Easy Freeway access – I-205 & I-84- Easy walk to Ventura & Floyd Light parks- Nearby shopping – Mall 205, Gateway and NE 122nd
Ash Court Apartments
PROJECT HIGHLIGHTS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
FINANCIAL ANALYSIS
Current Operating Actuals
Income & Expense Notes
Market Rate Buyout Notes
2Ash Street Courtyard12026 SE Ash, Portland, OR 97216
Ash Court Apartments
ACTUAL CURRENT OPERATING
Asking Price = $4,700,000 $100,000 $158.96 Fixed Expenses6.01% 0.85 RE Taxes
Cash On Cash Yr 1 = 5.17% 10.26 Insurance
24.76% 3.13 Total Management
Reserves
Sales Price = $4,700,000 Amt Fncd = $3,448,700 Debt Coverage = 1.31 Int Rate = 3.47%
Down Payment = $1,285,787 Annual Pmt = $216,136 $18,011 LTV = 0.73 Variable ExpensesMarketing/Advertising
Maintenance/Repairs
Count Vacant Min Rent Avg Rent Max Rent SqFt/Unit Rent/Sqft/Mon % Total Rent CapEx
1 Bed 23 1 $697.00 $780.43 $840.00 556.4 $1.40 47.0% Turnover
2 bed / 1 bath 24 1 $785.00 $842.58 $930.00 698.8 $1.21 53.0% Landscape
Totals 47 2 $697.00 $812.17 $930.00 629.1 $1.29 100.0% Garbage
Curr Vac Rate= 4.26% Total Sqft = 29568 Electricity/Gas
Telephone / Computer
Water/Sewer
Misc
Income
Scheduled Rent Total Oper Expenses
Vacancies Net Oper Income (NOI)
Other Income
RUBS
Eff Gross Income (EGI)
Annual Debt
CashFlow Before Taxes
Cash-Cash (Year 1) 5.17%
$216,136 $7.31 $4,598.63 47.2%
$66,446 $2.25 $1,413.75 14.5%
$282,582 $9.56 $6,012 61.7%
CFBT (Cash Flow Before Taxes) and Cash-Cash Return$/Sqft/Yr $/Unit/Yr % of EGI
$175,046 $5.92 $3,724 38.3%
$0 $0.00 $0 0.0%
$2,273 $0.08 $48 0.5%
$4,061 $0.14 $86 0.9%
$0 $0.00 $0 0.0%
$656 $0.02 $14 0.1%
$33,842 $1.14 $720 7.4%
0.0%
$19,975 $0.68 $425 4.4%
Total $/Yr $/Sqft/Yr $/Unit/Yr % of EGI
$457,629 $15.48 $9,737 100.0%
$7,050 $0.24 $150 1.5%
$58,193 $1.97 $1,238 12.7%
$24,656 $0.83 $525 5.4%
$12,640 $0.43 $269 2.8%
$11,702 $0.40 $249 2.6%
$7,746 $0.26 $165 1.7%
Monthly Pmt =
Rent = Actuals, Income from 01-Jan-17 thru 30-Jun-17 Annnualized
$458,064 $15.49
Total Operating Income & Expenses (@ Vac Factor = 3% of gross income)
Total $/Yr
-$13,729
$5,548
$/Sqft/Yr
-$0.46
$0.19
$/Unit/Yr
$9,746
-$292
$118
% of EGI
100.1%
-3.0%
1.2%
Metrics / Financing / Income Operating Expenses / Cash Flow
Unit Mix and Income as of 27-Jul-17 Rent Roll
Cap Rate = Breakeven Ratio =
Gross Rent Multiplier (GRM) =
7 Year IRR (internal Rate of Return) = Payback Period (Years @ IRR) =
Proposed 1st Financing
Financial Metrics$/Unit = $/SqFt =
Operating Expenses from 01-Jan-17 thru 30-Jun-17 AnnualizedTotal $/Yr $/Sqft/Yr $/Unit/Yr % of EGI
$0 $0.00 $0 0.0%
$0 $0.00 $0
Ash Court Apartments
INCOME & EXPENSE NOTES
* Operating expenses actuals from 1 Jan 17 – 1 Jul 17 annualized
* Rents actual from 25 July 17 rent roll – Vacants have accepted applications.
* Need to assume new HUD loan at 3.47% 35-year. Monthly Payment Schedule:• $18,011.32 – 1 Jul 17 thru 1 Jun 22• $13,075.90 - 1 Jul 22 thru 1 Jun 52 (payoff)
* Passed physical HUD inspection. 3rd party inspection report, Phase I/II and ALTA Survey available with accepted offer. BUYER TO VERIFY.
* Rents to reflect utility allowance for electric and water and are actual. BUYER TO VERIFY.
* Each unit is sub-metered and is in process of putting RUBS in place.
* Each unit has W/D hookups and Cadet space heaters.
* 60% AMI w/ 60 year use restriction from Portland Housing Bureau.
* Property tax abatement (10 years thru 2022). Non-profit owner or GP may be able to extend abatement – BUYER TO VERIFY.
Ash Court Apartments
MARKET RATE BUYOUT NOTES
* Buyout Amount to Portland Housing Bureau = $593,894 ($12,636/unit) thru 1 Nov 17
* Buyout amount NOT FINAL UNTIL CLOSING – BUYER TO VERIFY
* With Buyout, buyer to lose property tax exemption
* With buyout, current leases must be honored. BUYER TO VERIFY.
* With buyout, new lessees do NOT need to meet 60% AMI qualifying.
* With buyout, full utility billback on new lessees via sub-meter billing.
* Current 1 bed average • Ash Court = $776.52 ($1.40/sqft) • Area Asking average (see rent comps) = $935.83 ($1.43/sqft)
* Current 2 bed average • Ash Court = $838 ($1.20/sqft) • Area Asking average (see rent comps) = $1129 ($1.29/sqft)
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
SALES COMPARABLES
Sale Comps
Sale Comps Summary
Sale Comps Map
3Ash Street Courtyard12026 SE Ash, Portland, OR 97216
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 3 | SALES COMPARABLES
11
SALE COMPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
SUBJECT PROPERTY
Portland, OR 9721612026 SE Ash
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 23 48.9 556 $777 $1.402 bed / 1 bath 24 51.1 699 $838 $1.20
TOTAL/AVG 47 100% 629 $808 $1.28
$4,700,000Sale Price: 2011Year Built:
29,568 SFBuilding SF: $158.96Price PSF:
47No. Units: $100,000Price / Unit:
$268,265NOI:
JENNIFER ANNE
Portland, OR 9723317316 E Burnside
$2,300,000Sale Price: 1969Year Built:
18,726 SFBuilding SF: $122.82Price PSF:
21No. Units: $109,523Price / Unit:
5.5%Cap: 06/29/2017Closed:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
2 bed 21 100 870 $1,104 $1.27
TOTAL/AVG 21 100% 870 $1,104 $1.27
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PACIFIC COURT
Portland, OR 9723018120 NE Pacific Court
$3,265,000Sale Price: 1972Year Built:
20,734 SFBuilding SF: $157.47Price PSF:
28No. Units: $116,607Price / Unit:
6.1%Cap: 06/01/2017Closed:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed 16 57.1 6002 bed 12 42.9 828
TOTAL/AVG 28 100% 697 $0 $0.00
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2
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 3 | SALES COMPARABLES
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SALE COMPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
WALNUT GROVE
Portland, OR 972303803-3891 NE 152nd
$4,000,000Sale Price: 1978Year Built:
27,155 SFBuilding SF: $147.30Price PSF:
32No. Units: $125,000Price / Unit:
6.4%Cap: 05/26/2017Closed:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed 7 21.9 6502 bed 20 62.5 7503 bed 5 15.6 975
TOTAL/AVG 32 100% 763 $0 $0.00
Lots of deferred maintenance
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BUSH STREET
Portland, OR 9726611111 SE Bush
$2,500,000Sale Price: 1965Year Built:
42,650 SFBuilding SF: $58.62Price PSF:
24No. Units: $104,166Price / Unit:
04/17/2017Closed:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
2 bed 18 75 7503 bed 6 25 1,250
TOTAL/AVG 24 100% 875 $0 $0.00
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4
STERLING PARK
Portland, OR 9723616804 SE Powell
$10,950,000Sale Price: 1991Year Built:
78,604 SFBuilding SF: $139.31Price PSF:
73No. Units: $150,000Price / Unit:
12/07/2016Closed:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
2 bed 72 98.6 1,0703 bed 1 1.4 1,564
TOTAL/AVG 73 100% 1,076 $0 $0.00
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Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 3 | SALES COMPARABLES
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SALE COMPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
Portland, OR 9723317010 SE Stark
$6,112,000Sale Price: 2001Year Built:
48,984 SFBuilding SF: $124.78Price PSF:
47No. Units: $130,042Price / Unit:
6.6%Cap: 12/06/2016Closed:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
2 bed 35 74.53 bed 12 25.5
TOTAL/AVG 47 100% 0 $0
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Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 3 | SALES COMPARABLES
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SALE COMPS SUMMARY
SUBJECT PROPERTY PRICE PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE AMENITIES
Ash Street Courtyard12026 SE AshPortland, OR 97216
$4,700,000 $158.96 $100,000 - - 47 On Market
LIH deal. Great HUD loanallows a starting cash-cashreturn >5%. Recentconstruction (2011) andsub-meters installed. Currentproperty tax exemption.
SALE COMPS PRICE PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE AMENITIES
1Jennifer Anne17316 E BurnsidePortland, OR 97233
$2,300,000 $122.82 $109,523 5.5% - 21 06/29/2017 -
2Pacific Court18120 NE Pacific CourtPortland, OR 97230
$3,265,000 $157.47 $116,607 6.1% - 28 06/01/2017 -
3Walnut Grove3803-3891 NE 152ndPortland, OR 97230
$4,000,000 $147.30 $125,000 6.4% - 32 05/26/2017 Lots of deferred maintenance
4Bush Street11111 SE BushPortland, OR 97266
$2,500,000 $58.62 $104,166 - - 24 04/17/2017 -
5Sterling Park16804 SE PowellPortland, OR 97236
$10,950,000 $139.31 $150,000 - - 73 12/07/2016 -
6 17010 SE StarkPortland, OR 97233
$6,112,000 $124.78 $130,042 6.6% - 47 12/06/2016 -
PRICE PRICE/SF PRICE/UNIT CAP GRM # OF UNITS CLOSE
TOTALS/AVERAGES $4,854,500 $122.97 $129,453 6.1% - 37.5 -
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 3 | SALES COMPARABLES
15
SALE COMPS MAP
12026 SE Ash | Portland, OR 97216SUBJECT PROPERTY
117316 E BurnsidePortland, OR 97233
JENNIFER ANNE
218120 NE Pacific CourtPortland, OR 97230
PACIFIC COURT
33803-3891 NE 152ndPortland, OR 97230
WALNUT GROVE
411111 SE BushPortland, OR 97266
BUSH STREET
516804 SE PowellPortland, OR 97236
STERLING PARK
6
17010 SE StarkPortland, OR 97233
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
RENT COMPARABLES
Rent Comps
Rent Comps Summary
Rent Comps Map
4Ash Street Courtyard12026 SE Ash, Portland, OR 97216
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 4 | RENT COMPARABLES
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RENT COMPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
SUBJECT PROPERTY
Portland, OR 9721612026 SE Ash
2011Year Built: 0.45 ACLot Size:
47No. Units: $1.28Avg. Rent/SF:
$808Avg. Rent: 629 SFAvg. Size:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 23 48.9 556 $777 $1.40
2 bed / 1 bath 24 51.1 699 $838 $1.20
TOTAL/AVG 47 100% 629 $808 $1.28
HAMILTON PARK
Portland, OR 972301973 SE 122nd
1969Year Built: 68,294 SFBldg Size:
78No. Units: $0.73Avg. Rent/SF:
800 SFAvg. Size: $585Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 50 740 $1,050 $1.42
2 bed / 1 bath 1 50 860 $120 $0.14
TOTAL/AVG 2 100% 800 $585 $0.73
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1
VILLA STARK
Portland, OR 9723012520 SE Stark
1966Year Built: 14,452 SFBldg Size:
19No. Units: $1.20Avg. Rent/SF:
782 SFAvg. Size: $937Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 50 650 $850 $1.31
2 bed / 1 bath 1 50 915 $1,025 $1.12
TOTAL/AVG 2 100% 782 $937 $1.20
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2
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 4 | RENT COMPARABLES
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RENT COMPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
PARKLAND
Portland, OR 972303202 SE 92nd
2003Year Built: 85,282 SFBldg Size:
104No. Units: $1.47Avg. Rent/SF:
815 SFAvg. Size: $1,200Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 50 740 $1,050 $1.42
2 bed / 2 bath 1 50 890 $1,350 $1.52
TOTAL/AVG 2 100% 815 $1,200 $1.47
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3
HIDDEN COURT
Portland, OR 972302305 SE 121st
1963Year Built: 43,722 SFBldg Size:
70No. Units: $1.32Avg. Rent/SF:
650 SFAvg. Size: $855Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 100 650 $855 $1.32
TOTAL/AVG 1 100% 650 $855 $1.32
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LASSAM TERRACE
Portland, OR 972302160 SE 96th
34,500 SFBldg Size: 36No. Units:
$1.19Avg. Rent/SF: 900 SFAvg. Size:
$1,075Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
2 bed / 1 bath 1 100 900 $1,075 $1.19
TOTAL/AVG 1 100% 900 $1,075 $1.19
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5
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 4 | RENT COMPARABLES
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RENT COMPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
ROCHELLE
Portland, OR 972201111 NE 122nd
28,228 SFBldg Size: 42No. Units:
$1.32Avg. Rent/SF: 755 SFAvg. Size:
$1,000Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 50 640 $925 $1.45
2 bed / 1 bath 1 50 870 $1,075 $1.24
TOTAL/AVG 2 100% 755 $1,000 $1.32
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HIGHLANDER
Portland, OR 972201217 NE 122nd
1960Year Built: 33,998 SFBldg Size:
38No. Units: $1.33Avg. Rent/SF:
800 SFAvg. Size: $1,060Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 50 700 $975 $1.39
2 bed / 1 bath 1 50 900 $1,145 $1.27
TOTAL/AVG 2 100% 800 $1,060 $1.33
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7
EAST{POINT
Portland, OR 9723012450 SE Powell
1977Year Built: 59,595 SFBldg Size:
88No. Units: $1.52Avg. Rent/SF:
660 SFAvg. Size: $1,005Avg. Rent:
UNIT TYPE # UNITS % OF SIZE SF RENT RENT/SF
1 bed / 1 bath 1 50 560 $960 $1.71
2 bed / 1 bath 1 50 760 $1,050 $1.38
TOTAL/AVG 2 100% 660 $1,005 $1.52
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Ash Court Apartments
RENT COMPARABLES SUMMARY
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
12026 SE Ash | Portland, OR 97216SUBJECT PROPERTY
11973 SE 122ndPortland, OR 97230
HAMILTON PARK 212520 SE StarkPortland, OR 97230
VILLA STARK 33202 SE 92ndPortland, OR 97230
PARKLAND
42305 SE 121stPortland, OR 97230
HIDDEN COURT 52160 SE 96thPortland, OR 97230
LASSAM TERRACE 61111 NE 122ndPortland, OR 97220
ROCHELLE
71217 NE 122ndPortland, OR 97220
HIGHLANDER 812450 SE PowellPortland, OR 97230
EAST{POINT
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 4 | RENT COMPARABLES
21
RENT COMPS MAP
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
ADDITIONAL INFORMATION
Floor Plans
Photos
Multnomah Cnty AMI Limits
Multnomah Cnty Util Allowances
5Ash Street Courtyard12026 SE Ash, Portland, OR 97216
Ash Court Apartments
FLOOR PLANS
Ash Court Apartments
PHOTOS
Ash Court Apartments
60% AMI – MULTNOMAH COUNTY
Ash Court Apartments
UTILITY ALLOWANCES – MULTNOMAH COUNTY
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
LOCATION INFORMATION
WalkScore
Aerial Map
Location Maps
6Ash Street Courtyard12026 SE Ash, Portland, OR 97216
WALKSCORE
Ash Court Apartments
WALKSCORE
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 6 | LOCATION INFORMATION
29
AERIAL MAP
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 6 | LOCATION INFORMATION
30
LOCATION MAPS
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
ADVISOR BIOS
Steve Morris Bio & Contact
7Ash Street Courtyard12026 SE Ash, Portland, OR 97216
The information listed above has been obtained from sources we believe to be reliable, however, we accept no responsibility for its correctness.
1234 SW 18th AvenuePortland , OR 97205
T 971.888.4010 x107C [email protected]
Vice PresidentSTEVE MORRIS Professional Background
Steve Morris has 10 years of experience in multifamily investments. He is a licensed principal broker in Oregon andmanaging broker in Washington. Steve owns investment properties in the Portland area and deals with the sameissues multi-family owners experience in Portland.
Steve uses his analytical skills to help principals to make quicker and better-informed decisions on what matters tothem by translating complex financial metrics. In addition, his organizational skills and familiarity with high-techallow him to use up-to-date tools to manage large amounts of information which means jobs are done once anddone right.
Steve was involved in all facets of multi-family transactions and was a top producer for SVN-Bluestone. He wasresponsible for financial underwriting, market analysis, prospect calls, property tours, coordination of due diligenceand closing details.
Transaction sizes ranged from $1 million to $20 million. In addition to market-rate properties, Steve has experiencewith LIH sales and is familiar with the unique issues involved in transacting income-qualified properties.
Prior to his career in commercial real estate, Steve was in the high-tech industry with 10 years at Intel as anengineering manager followed by working for a start-up and being partner in a sales rep firm for Intel.
Steve is recognized as a reference on the Portland multi-family market with articles on the same in nationalpublications and frequent quotes in local business journals. He holds a MSEE degree from University of Portlandalong with coursework at Lewis & Clark Law School in Portland, Oregon. Steve has been a volunteer for JuniorAchievement in the Portland public school system.
OR | License No. 200202054WA | License No. 24512
EducationBSEE / MSEE University of Portland
Ash Street Courtyard12026 SE Ash, Portland, OR 97216
SECTION 7 | ADVISOR BIOS
32
STEVE MORRIS BIO & CONTACT