Oregon's Multi Family Market lacks inventory not investors

[AJ Wong]

For fun I did a quick search of all the multi family properties for sale in popular areas of Oregon:

Oregon Coast - 40

Eugene & Surrounding areas - 19

Salem - 16 

Bend - 10 

This is part of the reason why Oregon is very friendly to ADU's. In almost any city with a large enough population owners can build a permitted ADU on any residential lot. Eugene even has pre approved ADU plans.

Multi family in Oregon is definitely a hot commodity, either acquiring it or developing it. Larger door counts usually take a bit longer to market, seller's are often open to seller carried terms or even assumable notes due to a low cost base, or local credit unions can usually offer attractive small lender terms and services.   

We recently listed a northern coastal Duplex that went pending in days and have sold duplexes in Salem, Astoria, Lakeside and a second Astoria area Duplex coming to market. 1/1's will run $100k per door and larger footprints $200-250k and up to $275k per unit in coastal areas.

Typical buyer investor profile is Gen X or millennial individual or couple from out of the area or state. Several from WA, CA, ID and Canada. 

Typical seller profile is boomer selling their duplex to upgrade to an SFR or liquidating MFR trust or portfolio to reinvest.

Buyers are utilizing full documentation investor loans with 10-25% down or DSCR loans with 15-20% down to qualify. Seller concessions are common.

What's happening in your multi family investor market or with your search? Is there a lack of inventory?