Single-Level
New
For Sale
$825,000
10905 NE 6th ST, Vancouver, WA 98664
Updated units, private patios, shared laundry, and generous outdoor space support flexible occupancy.
Property Size3,224 SF
Lot Size0.33 Acres
Price / SF$255.89
Days on Market4
Property Features for 10905 NE 6th ST
General Information
Standard status
Active
Size
3,224 SF
Lot size
0.33 Acres
Property subtype
Multi-Family
Occupancy
75%
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
private patio
storage space
shared backyard
shared laundry area
Building Details
Year Built
1966
Buildings
1
Stories
1
Listing Agency:
Keller Williams Realty Portland Central
Listed By:
Realty Portland Team
(503) 966-4371
Source:
Realtyportland
Added: Sep 5
Changed: Sep 6
Last Checked: Sep 8 at 5:55AM
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 Keller Williams Realty Portland Central
Investment Insights
Based on property information with market context.
This 3,224-square-foot fourplex was built in 1966 and is arranged on one level. The property includes four updated units, each with a private patio and dedicated storage. Exterior components include a roof, siding, brickwork, and double-pane vinyl windows described as being in good condition. Residents also share a fenced backyard, laundry area, and low-maintenance landscaping.
The 0.33-acre site provides two-car driveways for each unit along with additional street parking. Three units are occupied under month-to-month leases, while one is vacant, offering flexibility for an owner-occupant or an investor. The property has quick access to I-205 and other commuter routes serving Downtown Vancouver, Camas, and Portland. Interior living areas remain quiet despite the convenient freeway connection.
The 0.33-acre site provides two-car driveways for each unit along with additional street parking. Three units are occupied under month-to-month leases, while one is vacant, offering flexibility for an owner-occupant or an investor. The property has quick access to I-205 and other commuter routes serving Downtown Vancouver, Camas, and Portland. Interior living areas remain quiet despite the convenient freeway connection.
Key Highlights
- Four‑unit, single‑level layout totaling 3,224 SF
- 0.33‑acre lot with a fully fenced shared backyard
- Three units occupied month‑to‑month; one unit 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
75%
Occupancy
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, private patios, shared laundry, and generous outdoor space support flexible occupancy.
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 layout totaling 3,224 SF; 0.33‑acre lot with a fully fenced shared backyard; Three units occupied month‑to‑month; one unit vacant
