Single-Level Fourplex with Private
New
For Sale
$825,000
10905 NE 6TH St, Vancouver, WA 98664
MultiFamily, Vancouver, WA
Property Size3,224 SF
Lot Size0.33 Acres
Price / SF$255.89
Days on Market6
Property Features for 10905 NE 6TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-18
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 3, Bedroom 5, Bedroom 2, Bathroom 4, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bathroom 2
Elementary school
Ellsworth
Middle school
Wy East
High school
Mountain View
Directions
Mill Plain, to NE 104th, to NE 7th, to NE 108th, to NE 6th
Subdivision
_20
Standard status
Active
APN
110291418
Size
3,224 SF
Lot size
0.33 Acres
Taxes and HOA fees
Tax Description
CONIFER 2ND ADD LOT 2 FOR ASSESSOR USE ONLY CONIFER 2ND ADD LOT 2
Tax Annual Amount
6462
Legal Description
CONIFER 2ND ADD LOT 2 FOR ASSESSOR USE ONLY CONIFER 2ND ADD LOT 2
Utilities
Heating system
Ceiling
Amenities
private patio
storage space
shared backyard
shared laundry area
Building Details
Year built
1966
Floors in Building
1
Number of units
4
Roof type
Shingle
Listing Agency:
Keller Williams Realty Portland Central
(503) 548-4848
Listed By:
Alexander Johnson
(503) 333-9626
Added: Sep 3
Changed: Sep 5
Last Checked: Sep 8 at 4:06PM
MLS# 509342913
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This single-level fourplex contains 3,224 square feet on a 0.33-acre lot. The four units have been updated, with private patios and storage areas assigned to each residence. Shared amenities include a laundry area and a fully fenced backyard. The roof, siding, brick exterior, and double-pane vinyl windows are in good condition, while low-maintenance landscaping supports straightforward upkeep.
Three units are occupied under month-to-month leases, and one is vacant. Parking includes large two-car driveways and additional street parking. Built in 1966 and zoned R-18, the property offers quick access to I-205 and other major commuter routes serving Downtown Vancouver, Camas, and Portland. The units are described as quiet inside despite their convenient freeway access.
Three units are occupied under month-to-month leases, and one is vacant. Parking includes large two-car driveways and additional street parking. Built in 1966 and zoned R-18, the property offers quick access to I-205 and other major commuter routes serving Downtown Vancouver, Camas, and Portland. The units are described as quiet inside despite their convenient freeway access.
Key Highlights
- Four‑unit, single‑level property with 3,224 square feet
- 0.33‑acre lot with large two‑car driveways and additional street parking
- Three units occupied on month‑to‑month leases; one unit currently vacant
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$43,078
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.22%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$861,560
$861.6K
Cap Rate 7%
$615,400
$615.4K
Cap Rate 9%
$478,644
$478.6K
Market Conditions
NOI Build-Up for 3,224 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$64.6K $20.04/SF
− Vacancy
−$3.1K −$0.95/SF
EGI
$61.5K $19.09/SF
− OpEx
−$18.5K −$5.73/SF
NOI
$43.1K $13.36/SF
Area
Vancouver, WA
Vacancy
4.75%
Lease Rate
$20.04 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$861,560
Cap Rate 7%
$615,400
Cap Rate 9%
$478,644
Alternative Uses
Best Use
Multifamily LT 5
$615.4K
$538.5K – $718.0K
NOI $43,078 @ 7.0% cap · market cap 5.22%
Second Best
Apartment 5plus
$534.2K
$467.5K – $623.3K
NOI $37,397 @ 7.0% cap · market cap 4.53%
Theoretical Best
Office A
$788.8K
$690.2K – $920.3K
NOI $55,217 @ 7.0% cap · market cap 6.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
819
Businesses Nearby
Explore this area
Business Placement
Demographics for 98664, WA
24,120
Population
9,656
Households
2.5
Avg Household Size
40
Median Age
34%
College-Educated
95%
High-School Grad
5.2 sq mi
ZIP Area
4,638
Density / Sq Mi
$81,697
Median Household Income
$46,754
Median Earnings
$1,670
Median Rent
$442,300
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated units include private storage, shared laundry, and a fully fenced common backyard.
Where is this quadplex located?
The property is located at 10905 NE 6TH St Vancouver, WA.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Four‑unit, single‑level property with 3,224 square feet; 0.33‑acre lot with large two‑car driveways and additional street parking; Three units occupied on month‑to‑month leases; one unit currently vacant
