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Covington Manor Townhomes 9700-9816 NE 76th Way 14 Unit Apartment Building $5,000,000 ($357,143/Unit) 5.11% Cap Rate Vancouver, WA 98662
Executive Summary
HFO is pleased to present Covington Manor Townhomes, a rare opportunity to acquire a 14-unit townhome community built in 2017 in Vancouver, Washington's highly desirable Orchards submarket. Comprised entirely of spacious three-bedroom, two-and-a-half-bath townhomes averaging 1,423 square feet, each residence features an attached garage, in-unit washer and dryer, granite countertops, stainless steel appliances, and modern finishes that provide residents with the comfort and functionality of single-family living. The property's newer construction minimizes near-term capital expenditure requirements while offering investors a stable, low-maintenance asset with strong long-term ownership appeal. Located just minutes from major employers, retail amenities, and convenient access to I-205 and SR-500, Covington Manor benefits from sustained rental demand driven by Clark County's continued population growth and Washington's favorable tax environment. An additional differentiator is the property's unique ownership structure, with each townhome situated on its own separately deeded parcel, providing future flexibility to sell the asset as a single investment, in phased tranches, or as individual homes to maximize value over time. Covington Manor represents an exceptional opportunity to acquire a high-quality, institutional-caliber multifamily investment offering durable cash flow, limited operational burden, and multiple avenues for future value creation.
Property Facts
| Price | $5,000,000 | Apartment Style | Townhome |
| Price Per Unit | $357,143 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.50 AC |
| Cap Rate | 5.11% | Building Size | 19,918 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2017 |
| Property Subtype | Apartment | ||
| Zoning | MG | ||
| Price | $5,000,000 |
| Price Per Unit | $357,143 |
| Sale Type | Investment |
| Cap Rate | 5.11% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | B |
| Lot Size | 0.50 AC |
| Building Size | 19,918 SF |
| No. Stories | 2 |
| Year Built | 2017 |
| Zoning | MG |
Amenities
Unit Amenities
- Dishwasher
- Fireplace
- Storage Space
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Refrigerator
- Oven
- Stainless Steel Appliances
- Tub/Shower
- Walk-In Closets
- Carpet
- Breakfast Nook
- Dining Room
- Freezer
- Handrails
- Loft Layout
- Pantry
- Patio
- Large Bedrooms
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+2.5 | 14 | - | 1,423 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,294,882 | |
| Land Assessment | $1,610,000 | Total Assessment | $4,904,882 |
Property Taxes
Parcel Numbers
Land Assessment
$1,610,000
Improvements Assessment
$3,294,882
Total Assessment
$4,904,882
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Covington Manor Townhomes | 9700-9816 NE 76th Way
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