3311 42Nd PlVancouver, WA 98661

For Sale
$4,825,000

Luxury Multifamily Investment Opportunity

Overview

Added:
Dec 11, 2024
Days on market:
93
Exceptional investment opportunity in Vancouver, WA, presents the Brentwood Apartments, a brand-new, 2023-built, three-story apartment building. This 17-unit complex boasts 16,176 square feet of net rentable space, commanding a price of $4,825,000 ($258/sq ft and $353,833/unit). The property enjoys a strong 5.91% cap rate, generating a substantial net operating income (NOI) of $306,789. Each of the 17 units features high-end finishes, including stainless steel appliances, modern cabinetry and fixtures, in-unit washer/dryer, and wood-style flooring. Unit types include studios, three-bedroom townhomes, and a fully renovated two-bedroom single-family home. Residents benefit from private garage entrances, large garages, open floor plans, spacious kitchens with large islands, ample natural light, and generous closet space. Located on a 0.52-acre lot (APN 161659000) at 3311 NE 42nd Pl, Vancouver, WA 98661, this prime location offers convenient access to I-5 and I-205, providing easy commutes to both downtown Vancouver and Portland. The property is also within walking distance of schools, parks, restaurants, and shopping, making it highly desirable for tenants. The average rent per unit is $959, reflecting the strong rental demand in this thriving neighborhood. This is a rare opportunity to acquire a high-quality, newly constructed multifamily property with excellent potential for long-term growth and strong cash flow.

Highlights

  • Brand new, 17-unit apartment complex built in 2023.
  • 16,176 square feet of net rentable space on a 0.52-acre lot, priced at $4,825,000 ($258/sq ft, $353,833/unit).
  • Strong 5.91% cap rate with a $306,789 net operating income (NOI) and average rent of $959 per unit.
  • High-end finishes including stainless steel appliances, modern cabinetry, in-unit washer/dryer, and wood-style flooring.
  • Private garage entrances, large garages, open floor plans, spacious kitchens with large islands, ample natural light, and generous closet space.

Property Details for 3311 42Nd Pl

Property type
Multifamily properties, Apartment buildings
Square Feet
16,176 SF
Year Built
2023
Stories
3
Lot Size (sq. ft)
22,651 SF
Units
17

Location Insight

City
Vancouver
County
Clark
State
Washington
Latitude
45.6459384
Longitude
-122.6276559
3311 42Nd Pl, Vancouver, Washington

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3311 42Nd Pl
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