Updated Triplex with Attached
For Sale
$717,400
2404 E 13th St, Vancouver, WA 98661
Three-unit property with shared laundry, renovated finishes, and a fenced common yard.
Property Size2,238 SF
Price / SF$320.55
Days on Market36
Property Features for 2404 E 13th St
General Information
Standard status
Active
Size
2,238 SF
Property subtype
Multi-Family
Building Details
Year Built
1964
Listing Agency:
Premiere Property Group, LLC
(503) 984-9887
Listed By:
Jason Preuit · License #200408054
Source:
Wyndeekono
Added: Jul 27
Changed: Aug 30
Last Checked: Aug 30 at 6:51PM
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 Premiere Property Group, LLC
Investment Insights
Based on property information with market context.
This 2,238-square-foot triplex, built in 1964, combines refreshed interiors with practical shared amenities. Select units have refinished oak hardwood flooring, updated appliances, and refreshed finishes. The property also includes shared laundry and two attached garages that provide additional storage capacity.
Exterior improvements include new landscaping, concrete, railings, and hardscaping. A front English garden complements the property, while the fully fenced backyard features turf and drainage improvements for shared outdoor use.
The Vancouver property is located near downtown Vancouver, the Vancouver Waterfront, and Clark College, with access to I-5 and SR-500 for travel toward Portland.
Exterior improvements include new landscaping, concrete, railings, and hardscaping. A front English garden complements the property, while the fully fenced backyard features turf and drainage improvements for shared outdoor use.
The Vancouver property is located near downtown Vancouver, the Vancouver Waterfront, and Clark College, with access to I-5 and SR-500 for travel toward Portland.
Key Highlights
- 2,238‑square‑foot triplex built in 1964
- Two attached garages with additional storage capacity
- Shared laundry located on site
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
$29,903
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
4.17%
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%
$598,060
$598.1K
Cap Rate 7%
$427,186
$427.2K
Cap Rate 9%
$332,256
$332.3K
Market Conditions
NOI Build-Up for 2,238 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
$44.8K $20.04/SF
− Vacancy
−$2.1K −$0.95/SF
EGI
$42.7K $19.09/SF
− OpEx
−$12.8K −$5.73/SF
NOI
$29.9K $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%
$598,060
Cap Rate 7%
$427,186
Cap Rate 9%
$332,256
Alternative Uses
Best Use
Multifamily LT 5
$427.2K
$373.8K – $498.4K
NOI $29,903 @ 7.0% cap · market cap 4.17%
Second Best
Apartment 5plus
$370.9K
$324.5K – $432.7K
NOI $25,960 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$547.6K
$479.1K – $638.8K
NOI $38,330 @ 7.0% cap · market cap 5.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,063
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?
Triplex - Three-unit property with shared laundry, renovated finishes, and a fenced common yard.
Where is this triplex located?
The property is located at 2404 E 13th St Vancouver, WA.
What is the asking price?
The asking price for this property is $717,400.
What are key features of this property?
This property features: 2,238‑square‑foot triplex built in 1964; Two attached garages with additional storage capacity; Shared laundry located on site
