Quadplex with Covered
For Sale
$1,099,000
2211 Y St, Vancouver, WA 98661
MultiFamily, Vancouver, WA
Property Size3,504 SF
Lot Size0.27 Acres
Price / SF$313.64
Days on Market99
Property Features for 2211 Y St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-18
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 8, Bedroom 3, Bathroom 3, Bedroom 2, Bedroom 1, Bathroom 1, Bedroom 5
Subdivision
4th Plain Blvd and 18th Avenue
Elementary school
Harney
Middle school
Discovery
High school
Hudsons Bay
Directions
4th Plain Blvd and 23rd Avenue
Standard status
Active
APN
030165010
Size
3,504 SF
Lot size
0.27 Acres
Taxes and HOA fees
Tax Description
LAWN HAVEN LOT 5 BLK 1 FOR ASSESSOR USE ONLY LAWN HAVEN LOT 5 BLK
Tax Annual Amount
6985
Legal Description
LAWN HAVEN LOT 5 BLK 1 FOR ASSESSOR USE ONLY LAWN HAVEN LOT 5 BLK
Utilities
Heating system
Baseboard
Amenities
yard
patio
stainless steel appliances
private storage
Building Details
Year built
1966
Floors in Building
2
Number of units
4
Roof type
Metal
Listing Agency:
Keller Williams Realty
(360) 693-3336
Listed By:
Jeff Wunder · License #104052
(360) 931-1178
Added: May 14
Changed: Aug 20
Last Checked: Aug 20 at 11:06AM
MLS# 219167316
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 four-unit property contains 3,504 square feet on a 0.27-acre lot and was built in 1966. The improvements include HardiPlank siding, a metal roof, vinyl windows, baseboard heating, and four covered parking spaces. Each residence has a private yard and patio, along with its own storage unit.
Interior updates include newer luxury vinyl plank flooring, stainless steel appliances, and some plumbing improvements. The property is located in Vancouver, WA, within the 98661 ZIP code. R-18 zoning is identified for the site.
Interior updates include newer luxury vinyl plank flooring, stainless steel appliances, and some plumbing improvements. The property is located in Vancouver, WA, within the 98661 ZIP code. R-18 zoning is identified for the site.
Key Highlights
- Four‑unit property with 3,504 square feet of building area
- 0.27‑acre lot in Vancouver, WA 98661
- Four covered parking spaces plus private storage for each unit
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
$46,819
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
4.26%
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%
$936,380
$936.4K
Cap Rate 7%
$668,843
$668.8K
Cap Rate 9%
$520,211
$520.2K
Market Conditions
NOI Build-Up for 3,504 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
$70.2K $20.04/SF
− Vacancy
−$3.3K −$0.95/SF
EGI
$66.9K $19.09/SF
− OpEx
−$20.1K −$5.73/SF
NOI
$46.8K $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%
$936,380
Cap Rate 7%
$668,843
Cap Rate 9%
$520,211
Alternative Uses
Best Use
Multifamily LT 5
$668.8K
$585.2K – $780.3K
NOI $46,819 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$580.6K
$508.1K – $677.4K
NOI $40,645 @ 7.0% cap · market cap 3.70%
Theoretical Best
Office A
$857.3K
$750.2K – $1.00M
NOI $60,013 @ 7.0% cap · market cap 5.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
592
Businesses Nearby
Explore this area
Business Placement
Demographics for 98661, WA
48,983
Population
22,291
Households
2.2
Avg Household Size
36
Median Age
27%
College-Educated
89%
High-School Grad
10.9 sq mi
ZIP Area
4,494
Density / Sq Mi
$75,037
Median Household Income
$43,920
Median Earnings
$1,440
Median Rent
$424,700
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 - R-18 quadplex with private outdoor areas, dedicated storage, and updated unit interiors.
Where is this quadplex located?
The property is located at 2211 Y St Vancouver, WA.
What is the asking price?
The asking price for this property is $1,099,000.
What are key features of this property?
This property features: Four‑unit property with 3,504 square feet of building area; 0.27‑acre lot in Vancouver, WA 98661; Four covered parking spaces plus private storage for each unit
