Multifamily

Vancouver 8-Unit

Listing Price: $1,125,000

Cap Rate
5.28%
Number of Units
8
GRM
10.49
Occupancy
95.00%
Price/Unit
$140,625
Price/Gross SF
$173.61
Gross SF
6,480

Investment Overview

This beautiful, spacious eight-unit apartment community is nestled comfortably in the Harney Heights neighborhood of Vancouver, Washington. The property is located about two miles from Interstate 5, about 15 minutes from downtown Portland, five minutes from Clark College, and a quick eight-minute drive from the rapidly developing Vancouver waterfront. The property consists of four duplexes on two tax lots, each offering two-bedroom/one-bathroom units sized around 810 square feet.

The property offers the communal feel of the off-street location, while tenants still benefit from the convenience of being situated on one of the main connective streets in Vancouver. Each unit comes with washer and dryer hookups, a carport, fireplace and either a beautiful fenced yard or patio. Two of the units were badly damaged by a fire within the last two years and have since been almost completely rebuilt, providing top of the market rents. The location of the apartments, near Clark College, fives the extra assurance of high demand due to student presence. This location boasts a 72-point walk score and is located within a mile of over 40 restaurants and bars as well as numerous parks and grocery stores. Vancouver, a well-known sub-market of Portland, has a population of around 200,000 and is home to several large manufacturers including SEH America, Sharp, Alcoa and HP.

Due to the population influx of the Portland area in recent years, Vancouver has experienced rapid expansion, consistently high rental demand and low vacancy rates. A mile and a half away, the Vancouver waterfront conveys this growth, rich with newly developed hotels, chic restaurants, office space and sophisticated high-rise apartments. The property will be a great investment for a buyer in search of a stable asset with the opportunity to add value by further renovation and increasing remaining rents.

Investment Highlights

  • Favorable, Inward-Facing, Duplex-Style Units
  • Five Minutes from Clark College (approximately 10,000 Students enrolled)
  • Beautiful, Spacious Back Yards and Patios
  • Washer and Dryer Hookups in all Units
  • Large Carports with Additional Storage
  • Within One Mile of 40 Grocery Stores, Bars, Restaurants and Coffee Shops

Exclusively Listed By

Financing By

Listing Price: $1,125,000

Cap Rate
5.28%
Number of Units
8
GRM
10.49
Occupancy
95.00%
Price/Unit
$140,625
Price/Gross SF
$173.61
Gross SF
6,480

Investment Highlights

  • Favorable, Inward-Facing, Duplex-Style Units
  • Five Minutes from Clark College (approximately 10,000 Students enrolled)
  • Beautiful, Spacious Back Yards and Patios
  • Washer and Dryer Hookups in all Units
  • Large Carports with Additional Storage
  • Within One Mile of 40 Grocery Stores, Bars, Restaurants and Coffee Shops

Investment Overview

This beautiful, spacious eight-unit apartment community is nestled comfortably in the Harney Heights neighborhood of Vancouver, Washington. The property is located about two miles from Interstate 5, about 15 minutes from downtown Portland, five minutes from Clark College, and a quick eight-minute drive from the rapidly developing Vancouver waterfront. The property consists of four duplexes on two tax lots, each offering two-bedroom/one-bathroom units sized around 810 square feet.

The property offers the communal feel of the off-street location, while tenants still benefit from the convenience of being situated on one of the main connective streets in Vancouver. Each unit comes with washer and dryer hookups, a carport, fireplace and either a beautiful fenced yard or patio. Two of the units were badly damaged by a fire within the last two years and have since been almost completely rebuilt, providing top of the market rents. The location of the apartments, near Clark College, fives the extra assurance of high demand due to student presence. This location boasts a 72-point walk score and is located within a mile of over 40 restaurants and bars as well as numerous parks and grocery stores. Vancouver, a well-known sub-market of Portland, has a population of around 200,000 and is home to several large manufacturers including SEH America, Sharp, Alcoa and HP.

Due to the population influx of the Portland area in recent years, Vancouver has experienced rapid expansion, consistently high rental demand and low vacancy rates. A mile and a half away, the Vancouver waterfront conveys this growth, rich with newly developed hotels, chic restaurants, office space and sophisticated high-rise apartments. The property will be a great investment for a buyer in search of a stable asset with the opportunity to add value by further renovation and increasing remaining rents.

Exclusively Listed By

Financing By

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