Updated Triplex with Attached
For Sale
$699,900
2404 E 13TH St, Vancouver, WA 98661
MultiFamily, Vancouver, WA
Property Size2,238 SF
Lot Size0.13 Acres
Price / SF$312.73
Days on Market169
Property Features for 2404 E 13TH St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-9
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bedroom 2, Bedroom 1, Bedroom 4, Bathroom 3, Bedroom 3, Bathroom 2, Bathroom 1
Elementary school
Edgewood
Middle school
Discovery
High school
Hudsons Bay
Directions
E 13th and Z street
Subdivision
_12
Standard status
Active
APN
035354000
Size
2,238 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Description
#215 JOHN MANEY DLC .13A (LAND ONLY SEE 035354-001 BLDG) FOR ASSE
Tax Annual Amount
4620
Legal Description
#215 JOHN MANEY DLC .13A (LAND ONLY SEE 035354-001 BLDG) FOR ASSE
Utilities
Heating system
Ceiling
Cooling system
Wall Unit(s)
Amenities
shared laundry
Building Details
Year built
1964
Floors in Building
2
Number of units
3
Roof type
Composition
Listing Agency:
Premiere Property Group, LLC
(360) 693-6139
Listed By:
Jason Preuit · License #200408054
(503) 984-9887
Added: Mar 26
Changed: Sep 4
Last Checked: Sep 10 at 6:06PM
MLS# 475166364
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 1964 triplex contains 2,238 square feet on a 0.13-acre parcel and includes two attached garages. Property improvements include refreshed landscaping, concrete work, railings, and hardscaping. The grounds feature an English garden at the front and a shared, fully fenced rear area with turf and drainage designed for straightforward upkeep.
Some units offer refinished oak hardwood flooring, updated appliances, and refreshed interior finishes. Shared laundry adds convenience for residents, while the attached garages provide storage space. The property is near downtown Vancouver, the Vancouver Waterfront, and Clark College, with access to I-5 and SR-500. R-9 zoning and established rents are also in place.
Some units offer refinished oak hardwood flooring, updated appliances, and refreshed interior finishes. Shared laundry adds convenience for residents, while the attached garages provide storage space. The property is near downtown Vancouver, the Vancouver Waterfront, and Clark College, with access to I-5 and SR-500. R-9 zoning and established rents are also in place.
Key Highlights
- Triplex totaling 2,238 square feet on a 0.13‑acre lot
- Two attached garages provide on‑site storage
- R‑9 zoning supports the multifamily configuration
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
4.27%
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 4.27%
Second Best
Apartment 5plus
$370.9K
$324.5K – $432.7K
NOI $25,960 @ 7.0% cap · market cap 3.71%
Theoretical Best
Office A
$547.6K
$479.1K – $638.8K
NOI $38,330 @ 7.0% cap · market cap 5.48%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Highway access
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
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 - R-9 zoning, shared laundry, and fenced outdoor space support practical multifamily operations.
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 $699,900.
What are key features of this property?
This property features: Triplex totaling 2,238 square feet on a 0.13‑acre lot; Two attached garages provide on‑site storage; R‑9 zoning supports the multifamily configuration
