Two-Unit Residential Income
1518 Z Street Vancouver, WA 98661
For Sale
$539,000
Updated duplex offers two separate units with living space, fireplaces, and a carport.
Property Size2,496 SF
Price / SF$215.95
Days on Market379
Property Features for 1518 Z Street
General Information
Standard status
Active
Size
2,496 SF
Property subtype
Multi Family
Building Details
Year Built
1956
Listing Agency:
Knipe Realty ERA Powered
(360) 433-1258
Listed By:
Alex Hart
(360) 433-1258
Source:
Compass
Added: Jul 14, 2025
Changed: Jul 23
Last Checked: Jul 24 at 1:27PM
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 Knipe Realty ERA Powered
Investment Insights
Based on property information with market context.
Updated two-unit residential income property in a mid-century structure, arranged as separate upstairs and downstairs living areas. The upstairs unit features three bedrooms, two full bathrooms, a kitchen, dining area, living room with a fireplace, and a sunroom. The downstairs unit includes one extra-large bedroom, one full bathroom, a kitchen, a living room with a gas fireplace, laundry, and an extra-large storage area, plus a carport.
The property is served by NW Gas, with a furnace that includes AC. It is located close to Clark College and various schools, with access to downtown Vancouver.
With a total of four bedrooms and three full bathrooms across both units, the layout supports straightforward separate occupancy in a duplex configuration.
The property is served by NW Gas, with a furnace that includes AC. It is located close to Clark College and various schools, with access to downtown Vancouver.
With a total of four bedrooms and three full bathrooms across both units, the layout supports straightforward separate occupancy in a duplex configuration.
Key Highlights
- Two‑unit duplex with a total of 2,236 SF of living space
- Upstairs unit: 3 bedrooms, 2 full bathrooms, kitchen, dining, living room with fireplace, plus sunroom
- Downstairs unit: 1 extra‑large bedroom, 1 full bathroom, kitchen and living room with gas fireplace, plus laundry and extra‑large storage
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $50.0k | $20.04 |
| − Vacancy | −$2.4k | −$0.95 |
| EGI | $47.6k | $19.09 |
| − OpEx | −$14.3k | −$5.73 |
| NOI | $33.4k | $13.36 |
2,496 SF · lease $20.04/SF/yr · vacancy 4.75% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$476.4K
$416.9K – $555.9K
NOI $33,351 @ 7.0% cap · market cap 6.19%
Second Best
Apartment 5plus
$413.6K
$361.9K – $482.5K
NOI $28,952 @ 7.0% cap · market cap 5.37%
Theoretical Best
Office A
$610.7K
$534.4K – $712.5K
NOI $42,749 @ 7.0% cap · market cap 7.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Duplex - Updated duplex offers two separate units with living space, fireplaces, and a carport.
Where is this duplex located?
The property is located at 1518 Z Street Vancouver, WA.
What is the asking price?
The asking price for this property is $539,000.
What are key features of this property?
This property features: Two‑unit duplex with a total of 2,236 SF of living space; Upstairs unit: 3 bedrooms, 2 full bathrooms, kitchen, dining, living room with fireplace, plus sunroom; Downstairs unit: 1 extra‑large bedroom, 1 full bathroom, kitchen and living room with gas fireplace, plus laundry and extra‑large storage
