Hakoya Lofts - Now $274.5k to $325k (16 NE Shaver St)

Back in September the Hakoya Lofts were going for $300k to $325k, or about $290 / sq ft.

The prices on 5 of them (did one sell?) have now been dropped to $274.5 - $300k, or about 8.5%. The price / sq ft drops to $269. (RMLS # 9008947)

The lofts look nice in the photos, althought I think the big garage door faces north. A huge south facing window would be really nice during Portland's dreary winters.

They also face competition from these lofts down the street on MLK.


I believe there are also a number of big loft projects over on Mississippi.

Hokoya Lofts - N William St. Corridor

I've driven past this building, (the Hakoya or Hokoya lofts, even the builders don't seem to know. Marketing 101 people, spell the name right! You say tomato, I say tomoto, I say you're wrong, etc. etc...) a few times, and just saw it pop up on the RMLS. There appear to be 6 2-3 bedroom units in the building, but don't know how many have sold yet, and it appears that all six are still available, albeit poorly marketed. (see RMLS #8082053)

I was a little shocked to see the prices, starting at $300k and going up from there (that's $290 / square foot for this 1034 sq. ft. loft). $300k will buy almost any house in the immediate neighborhood, and I'm pretty sure I'd rather have a yard and basement for my $300k. I'm not sure that this is the greatest location for lofts, but then again there must be a market for new construction/condos/lofts in a more residential neighborhood. I'm not sure why people don't love old houses as much as me, but I guess it's theoretically possible.

Anybody seen the inside or braved the "hardhat tours"? Anybody out there considering one? This stretch of Williams looks kind of funky/hip (and scary in places) but we haven't really explored it yet.

Another Reduction - 4094 NE 34th now $299k

Back on the 5th we were discussing 4904 NE 34th. Today the price was lowered again to $299k.

There are now three houses for sale on this corner, and another one just a few houses up the street.

MLS #8021247

Check out That Property Line - 4904 NE 34th Ave.

This cute little house (MLS # 8021247) was bought and "restored" this past year and is now back on the market.

You could have bought it last March for $361k, and got a cute albeit dated house and garage on a nice large 7500 square ft lot.

Now you can buy the "restored" version, sans garage and most of it's lot, for only $329k, just marked down from $349k.

And there is something fishy going on with the lot lines. I'm not sure why they laid out the lots like they did, but it must have been to make each lot 2500 square feet. - see Portland Map Link

What the photos don't show are the two new houses that loom just a few feet from this poor house. Oh, and it's listed as Beaumont/Wilshire, but it's actually in Concordia, which changes school districts.

I'm sure this will come up again, but this house leaves me conflicted. I'm a fan of infill and urban density, walk-ability, etc. But somehow executions like this just leave me cold.