Multifamily
Avondloem & Royal West Apartments
1005 NE Minnehaha St, Vancouver, WA 98665
Listing Price: $2,575,000
Investment Overview
The Avondbloem & Royal West Apartments are located in a vibrant community located within the West Minnehaha neighborhood of Vancouver, WA. Originally constructed in 1965 & 1970, The Avondbloem & Royal West Apartments offers incoming investors a value-add opportunity to reposition the community and achieve a 45% premium over current rents. Comprised of ten 832 SF two-bedroom one bath (Royal West) and twelve 840 SF two-bedroom one bath units, the property adheres to working professionals looking for extra space or small families.
Vancouver, the fourth-largest city in Washington, is a growing metro with a strong economic base inclusive of Peace Health Vancouver, Ilani Casino Resort, HP Vancouver & ZoomInfo as some of the largest employers. With a current population of 196,442 and anticipated population growth of 22% by 2030, Vancouver benefits as Portland’s largest suburban market and offers lower vacancy rates than the broader Portland metro thanks to a sustained interest from renters and limited new supply.
Avondloem & Royal West Apartments
Investment Highlights
- Value-add opportunity: An incoming investor can achieve 45% premiums over existing rents by completing interior renovations.
- Oversized lot with R-30 zoning: 68,390 square feet of urban high density zoning (R-30) for future development opportunity.
- Opportunity to add washer/dryer: Royal West (10 Units) has in unit laundry hookups already installed easily allowing an incoming investor to install washer/dryers.
- Strong unit mix: Spacious two-bedroom units, averaging 836 square feet. Units feature separate living and dining areas, with select units offering private back patios and in unit laundry hookups
- Ample off-street parking: 22 off street garage parking spaces, accommodating a 1:1 unit parking ratio.
Exclusively Listed By
Financing By
Listing Price: $2,575,000
Investment Highlights
- Value-add opportunity: An incoming investor can achieve 45% premiums over existing rents by completing interior renovations.
- Oversized lot with R-30 zoning: 68,390 square feet of urban high density zoning (R-30) for future development opportunity.
- Opportunity to add washer/dryer: Royal West (10 Units) has in unit laundry hookups already installed easily allowing an incoming investor to install washer/dryers.
- Strong unit mix: Spacious two-bedroom units, averaging 836 square feet. Units feature separate living and dining areas, with select units offering private back patios and in unit laundry hookups
- Ample off-street parking: 22 off street garage parking spaces, accommodating a 1:1 unit parking ratio.
Investment Overview
The Avondbloem & Royal West Apartments are located in a vibrant community located within the West Minnehaha neighborhood of Vancouver, WA. Originally constructed in 1965 & 1970, The Avondbloem & Royal West Apartments offers incoming investors a value-add opportunity to reposition the community and achieve a 45% premium over current rents. Comprised of ten 832 SF two-bedroom one bath (Royal West) and twelve 840 SF two-bedroom one bath units, the property adheres to working professionals looking for extra space or small families. Vancouver, the fourth-largest city in Washington, is a growing metro with a strong economic base inclusive of Peace Health Vancouver, Ilani Casino Resort, HP Vancouver & ZoomInfo as some of the largest employers. With a current population of 196,442 and anticipated population growth of 22% by 2030, Vancouver benefits as Portland’s largest suburban market and offers lower vacancy rates than the broader Portland metro thanks to a sustained interest from renters and limited new supply.
Exclusively Listed By
Financing By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
