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

Advertisement