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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
Nearby Similar for Sale
For Sale
$1,250,000
Vancouver Mixed-Use Property
Prime redevelopment opportunity, 3,888 sq ft, 0.85 acres.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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