Portland OR has been one of the hottest real estate markets in the country. This is best represented in a recently renovated Mediterranean style 4-plex which sold to a cash buyer off-market for a record $1,500,000. When you see the finished product, you’ll understand why. Santino Filipelli, a local broker with Filipelly Realty Group was both the one who both rehabbed the property and sold it as a pocket listing through Pocket Deed. Increasing rental rates are driving the prices of multi-family properties through the roof, and there don’t seem to be any signs of slowing down. Local jurisdictions are attempting to respond by proposing new rent control laws. We will see where things go, but as of right now, Portland remains one of the hottest rental markets around.
Below are some before and after photos of the project, courtesy of Filipelli Realty Group.