Multi-Family
EVGRN Lofts
2811 E Evergreen Blvd, Vancouver, WA 98661
Listing Price: $1,800,000
Investment Overview
EVRGN Lofts presents investors with the opportunity to acquire and advance aboutique multifamily development in Vancouver, Washington, one of Southwest Washington’s most established and fastest-evolving residential markets. The proposed program contemplates 44 residential units totaling approximately 31,193 residential rentable square feet, with a unit mix weighted toward efficient studios, one-bedroom, and two-bedroom residences.
The project is positioned to benefit from Vancouver’s continued population growth, strong household fundamentals, and strategic location within the broader Portland-Vancouver regional economy. Vancouver has experienced sustained long-term population growth, increasing by approximately 36% since2000, from roughly 146,600 residents to nearly 200,000 residents as of the latest Census estimate. The city also benefits from a median household income of approximately $81,300, a median owner-occupied home value of approximately $462,400, and median gross rent of approximately $1,700,supporting the investment thesis for attainable, newly delivered rental housing.
Vancouver and Clark County are supported by a diverse regional employment base across education, healthcare, government, gaming, higher education,logistics, and professional services. Major area employers include Evergreen Public Schools, Vancouver Clinic, Legacy Health, Clark County, ilani, the City of Vancouver, and Clark College, providing a broad employment foundation for continued renter demand.
Investment Highlights
- Boutique Multifamily Development: 44-unit, ~31,193 SF development opportunity with an efficient studio, 1BR, and 2BR unit mix in Vancouver, WA.
- Opportunity Zone Eligibility: OZ designation increases modeled land support to~$2.18M — ~$382K above the seller's $1.8M target.
- Strong Vancouver Market Fundamentals: Population ~199,698 (+4.6% since 2020); market rents $1,753–$1,864/mo; median HH income~$81,338.
Exclusively Listed By
Broker of Record
-
Joel Deis
Senior Managing Director, Market Leader- Washington
Listing Price: $1,800,000
Investment Highlights
- Boutique Multifamily Development: 44-unit, ~31,193 SF development opportunity with an efficient studio, 1BR, and 2BR unit mix in Vancouver, WA.
- Opportunity Zone Eligibility: OZ designation increases modeled land support to~$2.18M — ~$382K above the seller's $1.8M target.
- Strong Vancouver Market Fundamentals: Population ~199,698 (+4.6% since 2020); market rents $1,753–$1,864/mo; median HH income~$81,338.
Investment Overview
EVRGN Lofts presents investors with the opportunity to acquire and advance aboutique multifamily development in Vancouver, Washington, one of Southwest Washington’s most established and fastest-evolving residential markets. The proposed program contemplates 44 residential units totaling approximately 31,193 residential rentable square feet, with a unit mix weighted toward efficient studios, one-bedroom, and two-bedroom residences. The project is positioned to benefit from Vancouver’s continued population growth, strong household fundamentals, and strategic location within the broader Portland-Vancouver regional economy. Vancouver has experienced sustained long-term population growth, increasing by approximately 36% since2000, from roughly 146,600 residents to nearly 200,000 residents as of the latest Census estimate. The city also benefits from a median household income of approximately $81,300, a median owner-occupied home value of approximately $462,400, and median gross rent of approximately $1,700,supporting the investment thesis for attainable, newly delivered rental housing. Vancouver and Clark County are supported by a diverse regional employment base across education, healthcare, government, gaming, higher education,logistics, and professional services. Major area employers include Evergreen Public Schools, Vancouver Clinic, Legacy Health, Clark County, ilani, the City of Vancouver, and Clark College, providing a broad employment foundation for continued renter demand.
Exclusively Listed By
Broker of Record
-
Joel Deis
Senior Managing Director, Market Leader- Washington