Portland Condo: The John Ross

Exterior of the John Ross Condominium, Portland Oregon

The John Ross Condominium, 3601 SW River Parkway,  is located at the South Waterfront in Portland, Oregon.  It features 303 units, concierge service, an impressive lobby, a party room, a BBQ and picnic area, underground parking, views of the Willamette River, Downtown Portland and the west hills.

 

There are currently (as of January 24, 2011) only 9 units for sale and 1 unit is sale pending, and in the past 12 months, 104 unit sales have been reported to RMLS.  Of the unit sales reported to RMLS, the average sale price was $319,380 and the average price per square foot price was $237.  The average active list price is $225,783 and the average asking price per square foot is $251.  Last month, the last developer unit sold, so the building is finally “sold out”.  The units for sale are resales.

 

In 2010, the developers at the South Waterfront took aggressive actions in order to dispose of inventory.  There were auctions at the John Ross and at the Atwater, and there were dramatic price decreases by the developers at these two buildings.   The auction at the John Ross resulted in 47 unit sales, but the auction pricing affected the prices (for the worse) of the other units in the building.  In my opinion, the south waterfront is the best value for high rise condos in Portland at this time. 

 

The concierge desk at the John Ross Condominiums

The John Ross is a beautiful building with excellent amenities, artwork and decor.  The individual units feature floor to ceiling windows, lots of light and sweeping views.  The only drawbacks that I have observed at the John Ross are: the party room is a little dark, and the oval shape of the building offers some units with rounded walls of windows.  For a designer, the non-traditional room shape might present an exciting challenge, but for the typical homeowner, it can be a little bit difficult to work with the space.

 

The John Ross is probably the most affordable building at the South Waterfront because it is set back one building from the River.  The Atwater

and Meriwether East are more expensive because of their unobstructed river views.  However. The south waterfront is still in its infancy with regard to commercial developement.  It is way behind downtown Portland and the Pearl District, but its proximity to OHSU via the Tram and downtown via the streetcar make it very accessible.

 

If you would like more information on Portland Condos, please let me know. 503-810-2219  Thanks,  Brian Porter

 

 

The John Ross Condominiums, Street View

Pacifica Condos at Riverscape, Portland Oregon

Pacifica Condos, Living room

Pacifica Condos, Kitchen

Pacifica Condos at Riverscape, Portland Oregon

The Pacifica Condos are a mid-rise building on the Willamett River, just north of the Pearl District. They have high end, high quality finishes, but the reason to buy a condo at Pacifica is because you want an amazing view of the river.  The Pacifica seems to be a condo for a more laid-back buyer.  No hussle bustle of the Pearl District, just peaceful riverside living.  The downside to the Pacifica is it is not as accessible to shopping and the streetcar.

The Developer of the project is also in the process of developing at Marina just to the north. So boaters here is your chance to live and have your boat moored in the same place.  The Pacifica Condos are located a little bit north of the Freemont bridge, so you can hear the road noise when you are outside, but inside it is quiet.

Recently, I had the opportunity to lok at unit 309, a 2BR, 2 Bath corner unit with an amazing river view. It is a corner unit with great light and an open floorplan. It comes with a tandem 2 car garage, and at the price of $529,000 it is a great deal. At 1471 Square Feet, that comes out to $359/sf. The taxes on this unit are not posted, so I believe that have not yet been determined. So at least you won’t be paying taxes that we assessed at the peak of the market.

The Pacifica is super close to the pearl district and nob hill (NW 23rd ave.) but it feels a little isolated because there are vacant lots around it, and it does not have any retail around, except a dive bar across the street. You are not in the middle of it all when you are at pacifica, but you are a 10 minute walk away from two of Portland’s finest neighborhoods.

Search for Portland Condos.

As of December 11, 2011 there were 18 active listings at the Riverscape Condos as per the RMLS. There may be additional developer owned units that are not currently posted to the MLS. The unit prices ranged from $189,900 to $1,049,000 with an average list price of $497,022 and an average price per square foot of $383. In the past 6 months, 8 sales have been reported to the RMLS with an average sale price of $607,875 at $373/sf average.

Portland Condos, Sunrose Condominiums, SE 28th Ave and Burnside

Sunrose Condos

Sunrose Condos in Portland Oregon

As of December 11, 2010, there were 13 condos for sale at the Sunrose.  The prices ranged from $225,000 to $400,000 and the sizes ranged from 742sf to 1337 sf.  The average list price was $306,538 and the average list price per square foot was $296.  In the past 6 months,  7 units have sold at an average sale price of $318,875 and at an average of $296/sq ft.

I recently had the opportunity to preview the Sunrose condominiums at the corner of Burnside and 28th Ave in Portland, Oregon. I must admit that this is one of my favorite neighborhoods in Portland because of its walkability and great access to downtown, Lloyd Center, Fred Meyer, Whole Foods Market, I-84 and great restaurants on 28th Ave.

The Condos are very contemporary and attractive. The exterior is a unique boxy looking design that reminds me of mid-century architecture. The interiors are very stark with hardwood floors, ultra modern kitchens and bathrooms, huge windows and that’s it. No other architectural details… very minimalist.

The prices at Sunrose seemed to be a little cheaper than the Pearl District, but a little more than the south waterfront. Makes sense. The Pearl is awesome, right downtown, close to art galleries, martini bars, great restaurants, Whole Foods Market, parks, fountains, the river etc. Whereas, the south waterfront hasn’t grown up yet. It is full of condos, but the retail hasn’t filled up yet.

Kitchen, Sunrose Condos

Dining Room, Sunrose Condos