"New" Duplex Buyers
The "New" Duplex Buyers in Portland, Oregon
Duplexes have traditionally been a way for investors to purchase rental property and to get a lower price per unit than in a single family residence. A few years ago some owner occupants began to purchase duplexes, and they rented out the second unit to help pay the mortgage.
As the operator of www.portlandduplex.com I have the opportunity to work with quite a few plex buyers and sellers, and a new trend is beginning to emerge in our market in Portland, Oregon. Two different buyers are purchasing duplexes as tenants in common. For example, I recently sold a duplex to two sisters, and another one to two married couples. Buyers have discovered that they can buy ½ of a duplex for a much lower price than a single family residence in the same neighborhood.
I am currently working on a transaction with a mother and daughter. Mom will live on one side and the daughter will live on the other.
These are the “new” duplex buyers. They are motivated to buy plexes because the cost of single family residences has increased so much over the past 5 years, and they have been priced out of the market in the neighborhood of their choice.
If you are a “new” duplex buyer, please give me a call at 503-810-2219, and I will help you find a plex that meets your needs. If you have a duplex or triplex that you would like to sell, I will be happy to show you how to reach the “new” plex buyers.
