Six-Unit Apartment
For Sale
$1,200,000
908 NE 1ST Ave, Battle Ground, WA 98604
MultiFamily, BattleGround, WA
Property Size4,372 SF
Lot Size0.54 Acres
Price / SF$274.47
Days on Market214
Property Features for 908 NE 1ST Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7
Bedrooms
8
Bathrooms
5
Full bathrooms
5
Rooms
Bedroom 7, Bedroom 5, Bedroom 3, Bedroom 1, Bathroom 4, Bathroom 1, Bathroom 2, Bathroom 3, Bedroom 2, Bedroom 6, Bathroom 5, Bedroom 8, Bedroom 4
Subdivision
ERICKSONS SUB-DIVISION
Elementary school
Captain Strong
Middle school
Chief Umtuch
High school
Battle Ground
Directions
W Main St and N Parkway Ave to NE 1st Ave
Standard status
Active
APN
091052030
Size
4,372 SF
Lot size
0.54 Acres
Taxes and HOA fees
Tax Description
ERICKSONS SUB-DIV LOT 15 FOR ASSESSOR USE ONLY ERICKSONS SUB-DIV
Tax Annual Amount
3600
Legal Description
ERICKSONS SUB-DIV LOT 15 FOR ASSESSOR USE ONLY ERICKSONS SUB-DIV
Amenities
laundry hook ups
mini split or wall heat
carpeted bedrooms/living area
linoleum kitchen/bathrooms
backyards or side yards
detached storage sheds
Building Details
Year built
1996
Floors in Building
1
Number of units
6
Roof type
Composition
Listing Agency:
Windermere Northwest Living · Windermere Real Estate
(360) 993-2222
Listed By:
Stefanie Foster
(360) 903-7200
Added: Jan 28
Changed: Aug 29
Last Checked: Aug 30 at 6:06PM
MLS# 423211847
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 six-unit apartment property consists of three duplex buildings situated on two separate tax lots. The unit mix includes four two-bedroom, one-bath residences and two one-bedroom, one-bath residences, totaling 4,372 square feet. Each unit includes laundry hookups, with heating provided by mini-split systems or wall units. Carpet is installed in bedrooms and living areas, while kitchens and bathrooms have linoleum flooring.
The 0.54-acre property provides 10 parking spots, along with backyards or side yards for most residences. Detached storage sheds serve some units. Built in 1996, the property is zoned R7 and is located at 908 NE 1st Ave in BattleGround, Washington, within a short walk of Main Street. All units are currently rented, with long-time tenants in place. Offers are subject to interior inspection.
The 0.54-acre property provides 10 parking spots, along with backyards or side yards for most residences. Detached storage sheds serve some units. Built in 1996, the property is zoned R7 and is located at 908 NE 1st Ave in BattleGround, Washington, within a short walk of Main Street. All units are currently rented, with long-time tenants in place. Offers are subject to interior inspection.
Key Highlights
- 6 units across 3 duplexes on 2 separate tax lots
- Unit mix includes four 2 bed/1 bath units and two 1 bed/1 bath units
- 4,372 square feet on 0.54 acres
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
$53,180
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
4.43%
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%
$1,063,600
$1.1M
Cap Rate 7%
$759,714
$759.7K
Cap Rate 9%
$590,889
$590.9K
Market Conditions
NOI Build-Up for 4,372 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
$101.8K $23.28/SF
− Vacancy
−$5.1K −$1.16/SF
EGI
$96.7K $22.12/SF
− OpEx
−$43.5K −$9.95/SF
NOI
$53.2K $12.16/SF
Area
Clark County, WA
Vacancy
5.00%
Lease Rate
$23.28 /SF/Yr
Expense Ratio
45.00%
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%
$1,063,600
Cap Rate 7%
$759,714
Cap Rate 9%
$590,889
Alternative Uses
Best Use
Apartment 5plus
$759.7K
$664.8K – $886.3K
NOI $53,180 @ 7.0% cap · market cap 4.43%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.07M
$932.0K – $1.24M
NOI $74,559 @ 7.0% cap · market cap 6.21%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 98604, WA
38,245
Population
13,557
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
72.1 sq mi
ZIP Area
530
Density / Sq Mi
$108,616
Median Household Income
$58,693
Median Earnings
$1,492
Median Rent
$543,500
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?
Apartment building - Three duplex buildings comprise a fully occupied residential rental property with varied unit layouts and individual laundry hookups.
Where is this apartment building located?
The property is located at 908 NE 1ST Ave Battle Ground, WA.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 6 units across 3 duplexes on 2 separate tax lots; Unit mix includes four 2 bed/1 bath units and two 1 bed/1 bath units; 4,372 square feet on 0.54 acres
