Four-Unit Apartment
For Sale
$1,125,000
1715 SE 9th Ave, Camas, WA 98607
Four two-bedroom units share on-site parking and a community laundry facility.
Property Size3,286 SF
Price / SF$342.36
Days on Market10
Property Features for 1715 SE 9th Ave
General Information
Standard status
Active
Size
3,286 SF
Property subtype
Multi-Family
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Additional Details
Highway Access
Yes
Amenities
shared community laundry
Building Details
Year Built
1977
Listing Agency:
Windermere Northwest Living
(360) 993-2222
Listed By:
Taylor Anderson · License #120507
Source:
Rosecityrealtygroup
Added: Aug 21
Changed: Aug 28
Last Checked: Aug 29 at 12:27PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Windermere Northwest Living
Investment Insights
Based on property information with market context.
Built in 1977, this 3,286-square-foot quadplex contains four two-bedroom, one-bathroom units. Each residence includes a central living area, while shared amenities include on-site parking and a community laundry facility serving the property. The unit configuration provides a consistent layout across the building.
The property is located at 1715 SE 9th Ave in Camas, within the Camas School District. Downtown Camas, Highway 14, shopping, dining, and local amenities are nearby. Washougal Waterfront Park is a 4-minute drive away, and the Columbia River Gorge National Scenic Area provides access to nearby outdoor recreation.
The property is located at 1715 SE 9th Ave in Camas, within the Camas School District. Downtown Camas, Highway 14, shopping, dining, and local amenities are nearby. Washougal Waterfront Park is a 4-minute drive away, and the Columbia River Gorge National Scenic Area provides access to nearby outdoor recreation.
Key Highlights
- Four units, each with 2 bedrooms and 1 bathroom
- 3,286‑square‑foot property built in 1977
- On‑site parking for residents
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
$42,811
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
3.81%
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%
$856,220
$856.2K
Cap Rate 7%
$611,586
$611.6K
Cap Rate 9%
$475,678
$475.7K
Market Conditions
NOI Build-Up for 3,286 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
$65.1K $19.80/SF
− Vacancy
−$3.9K −$1.19/SF
EGI
$61.2K $18.61/SF
− OpEx
−$18.3K −$5.58/SF
NOI
$42.8K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /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%
$856,220
Cap Rate 7%
$611,586
Cap Rate 9%
$475,678
Alternative Uses
Best Use
Multifamily LT 5
$611.6K
$535.1K – $713.5K
NOI $42,811 @ 7.0% cap · market cap 3.81%
Second Best
Apartment 5plus
$571.0K
$499.6K – $666.2K
NOI $39,970 @ 7.0% cap · market cap 3.55%
Theoretical Best
Specialty Retail
$800.6K
$700.5K – $934.0K
NOI $56,039 @ 7.0% cap · market cap 4.98%
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
348
Businesses Nearby
Explore this area
Business Placement
Demographics for 98607, WA
35,054
Population
12,667
Households
2.8
Avg Household Size
40
Median Age
53%
College-Educated
96%
High-School Grad
47.6 sq mi
ZIP Area
736
Density / Sq Mi
$132,234
Median Household Income
$64,422
Median Earnings
$1,854
Median Rent
$648,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom units share on-site parking and a community laundry facility.
Where is this quadplex located?
The property is located at 1715 SE 9th Ave Camas, WA.
What is the asking price?
The asking price for this property is $1,125,000.
What are key features of this property?
This property features: Four units, each with 2 bedrooms and 1 bathroom; 3,286‑square‑foot property built in 1977; On‑site parking for residents
