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34th Street Apartments 5750 NE 34th St 20 Unit Apartment Building $4,750,000 ($237,500/Unit) 7.35% Cap Rate Vancouver, WA 98661
Executive Summary
HFO is pleased to present 34th Street Apartments, a 2018-constructed, turn-key multifamily asset featuring spacious three-bedroom floor plans, modern design finishes, and in-unit laundry, resulting in strong renter appeal and minimal near-term capital requirements. The property benefits from off-street parking, pet-friendly units, and a highly functional unit mix that supports stable occupancy while offering an operations-driven upside through continued rent optimization and expense management. Well located within Vancouver’s 98661 ZIP code, the asset sits in an established residential neighborhood with convenient access to employment centers and amenities throughout the greater Portland–Vancouver metro. The investment is further enhanced by assumable debt and an attractive tax abatement, providing favorable financing and cash-flow efficiency for a new owner.
Property Facts
| Price | $4,750,000 | Apartment Style | Low-Rise |
| Price Per Unit | $237,500 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.68 AC |
| Cap Rate | 7.35% | Building Size | 21,621 SF |
| No. Units | 20 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 2018 |
| Property Subtype | Apartment | Parking Ratio | 1.15/1,000 SF |
| Zoning | R-30 - 26 - Multi-Family - 20-29 Units | ||
| Price | $4,750,000 |
| Price Per Unit | $237,500 |
| Sale Type | Investment |
| Cap Rate | 7.35% |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.68 AC |
| Building Size | 21,621 SF |
| No. Stories | 3 |
| Year Built | 2018 |
| Parking Ratio | 1.15/1,000 SF |
| Zoning | R-30 - 26 - Multi-Family - 20-29 Units |
Amenities
Unit Amenities
- Microwave
- Washer/Dryer
- Ceiling Fans
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
- Pool
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1 | 7 | - | 950 - 1,200 |
| 3+1.5 | 13 | - | 980 |
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Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
20/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 029473-072 | Improvements Assessment | $0 |
| Land Assessment | $370,260 | Total Assessment | $370,260 |
Property Taxes
Parcel Number
029473-072
Land Assessment
$370,260
Improvements Assessment
$0
Total Assessment
$370,260
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Contact the Sale Advisor
34th Street Apartments | 5750 NE 34th St