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16306 NE 20th St - Grove at 162nd Ave 4 Unit Apartment Building Offered at $1,800,000 at a 5.25% Cap Rate Vancouver, WA 98684
INVESTMENT HIGHLIGHTS
- Modern Floor Plan with High Ceilings
- 2022 Construction
- Excellent East Vancouver Location
EXECUTIVE SUMMARY
INVESTOR OPPORTUNITY: 4 newly constructed single-family detached homes located in East Vancouver! (Included Units: 16318 NE 20TH, 16314 NE 20TH, 16310 NE 20TH , and 16306 NE 20TH). All Built in 2022 with Luxury amenities throughout. These houses feature 3 bedrooms, 2.5 baths, a dedicated laundry room, a 2-car garage, and a 2-car parking Pad. The primary suites have spacious walk-in closets and a dual vanity/walk-in shower! Luxury finishes include 9-foot ceilings, quartz countertops, a breakfast island, Can lighting, stainless steel appliances, central AC & heating, LVP flooring, and loft space. Centrally located on the east side of Vancouver. Just minutes away from HWY 14, I-205, PDX International Airport, Camas Meadows, Lacamas Lake, and More! Live worry-free with the 30-year Roof & Siding! Rentals are allowed. Within the UNION HIGH SCHOOL district. Fully fenced-in front patio. Low HOA. Occupied homes are professionally managed by Zenith Properties NW LLC.
All units are tenant occupied (Professionally managed by Zenith Properties NW LLC) except for 16318 NE 20th St. Please do Not disturb occupants. Interior & Exterior showings available anytime at 16318 NE 20th St. Please call Jonathan for showings at 360-721-2739. Signpost located outside vacant unit. Low HOA fee that upkeeps front yard landscaping & Common areas. P&L for each unit can be shared upon request. (Included Units: 16318 NE 20TH, 16314 NE 20TH, 16310 NE 20TH , and 16306 NE 20TH). (TAX ID's: 986059988, 986059987, 986059986 , 986059985)
All units are tenant occupied (Professionally managed by Zenith Properties NW LLC) except for 16318 NE 20th St. Please do Not disturb occupants. Interior & Exterior showings available anytime at 16318 NE 20th St. Please call Jonathan for showings at 360-721-2739. Signpost located outside vacant unit. Low HOA fee that upkeeps front yard landscaping & Common areas. P&L for each unit can be shared upon request. (Included Units: 16318 NE 20TH, 16314 NE 20TH, 16310 NE 20TH , and 16306 NE 20TH). (TAX ID's: 986059988, 986059987, 986059986 , 986059985)
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$126,840
|
$21.18
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$126,840
|
$21.18
|
| Taxes |
$17,192
|
$2.87
|
| Operating Expenses |
$15,169
|
$2.53
|
| Total Expenses |
$32,361
|
$5.40
|
| Net Operating Income |
$94,479
|
$15.78
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $126,840 |
| Annual Per SF | $21.18 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $126,840 |
| Annual Per SF | $21.18 |
| Taxes | |
|---|---|
| Annual | $17,192 |
| Annual Per SF | $2.87 |
| Operating Expenses | |
|---|---|
| Annual | $15,169 |
| Annual Per SF | $2.53 |
| Total Expenses | |
|---|---|
| Annual | $32,361 |
| Annual Per SF | $5.40 |
| Net Operating Income | |
|---|---|
| Annual | $94,479 |
| Annual Per SF | $15.78 |
PROPERTY FACTS Under Contract
| Price | $1,800,000 | Property Type | Multifamily |
| Price Per Unit | $450,000 | Apartment Style | Single-Family Home |
| Sale Type | Investment | Lot Size | 0.05 AC |
| Cap Rate | 5.25% | Building Size | 5,988 SF |
| Gross Rent Multiplier | 14.19 | No. Stories | 2 |
| No. Units | 4 | Year Built | 2022 |
| Zoning | R-18 | ||
| Price | $1,800,000 |
| Price Per Unit | $450,000 |
| Sale Type | Investment |
| Cap Rate | 5.25% |
| Gross Rent Multiplier | 14.19 |
| No. Units | 4 |
| Property Type | Multifamily |
| Apartment Style | Single-Family Home |
| Lot Size | 0.05 AC |
| Building Size | 5,988 SF |
| No. Stories | 2 |
| Year Built | 2022 |
| Zoning | R-18 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Range
- Walk-In Closets
- Carpet
- Double Pane Windows
- Island Kitchen
- Pantry
- Patio
- Vinyl Flooring
- Large Bedrooms
- Quartz Countertops
SITE AMENITIES
- Individual Locking Bedrooms
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 3+2.5 | 4 | $2,630 | 1,436 - 1,552 |
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16306 NE 20th St - Grove at 162nd Ave
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