Triplex with Private Fenced
For Sale
$675,000
3316 Grand Blvd, Vancouver, WA 98660
Three occupied two-bedroom residences offer updated flooring and individual outdoor areas near Minnehaha Park.
Property Size2,850 SF
Price / SF$236.84
Days on Market13
Property Features for 3316 Grand Blvd
General Information
Standard status
Active
Size
2,850 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Amenities
private fenced yard
Building Details
Year Built
1972
Listing Agency:
Coldwell Banker United Brokers
(503) 810-1769
Listed By:
Matthew Bailey
Source:
Evergreenrealestatepartners
Added: Aug 17
Changed: Aug 28
Last Checked: Aug 29 at 11:49AM
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 Coldwell Banker United Brokers
Investment Insights
Based on property information with market context.
This 2,850-square-foot triplex, built in 1972, contains three residences with a consistent layout: two bedrooms and one bathroom per unit. Each residence includes a private fenced yard, and newer flooring adds a recent interior improvement. All three units are occupied, with tenants in place for 3+ years.
The property is located at 3316 Grand Blvd in Vancouver, near Minnehaha Park. Its three-unit configuration and established occupancy provide a straightforward multifamily format for ownership or continued rental use.
The property is located at 3316 Grand Blvd in Vancouver, near Minnehaha Park. Its three-unit configuration and established occupancy provide a straightforward multifamily format for ownership or continued rental use.
Key Highlights
- 2,850‑square‑foot triplex built in 1972
- Three units, each with 2 bedrooms and 1 bath
- Private fenced yard for every 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
$38,081
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
5.64%
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%
$761,620
$761.6K
Cap Rate 7%
$544,014
$544.0K
Cap Rate 9%
$423,122
$423.1K
Market Conditions
NOI Build-Up for 2,850 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
$57.1K $20.04/SF
− Vacancy
−$2.7K −$0.95/SF
EGI
$54.4K $19.09/SF
− OpEx
−$16.3K −$5.73/SF
NOI
$38.1K $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%
$761,620
Cap Rate 7%
$544,014
Cap Rate 9%
$423,122
Alternative Uses
Best Use
Multifamily LT 5
$544.0K
$476.0K – $634.7K
NOI $38,081 @ 7.0% cap · market cap 5.64%
Second Best
Apartment 5plus
$472.3K
$413.2K – $551.0K
NOI $33,059 @ 7.0% cap · market cap 4.90%
Theoretical Best
Office A
$697.3K
$610.2K – $813.5K
NOI $48,812 @ 7.0% cap · market cap 7.23%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
518
Businesses Nearby
Explore this area
Business Placement
Demographics for 98660, WA
12,735
Population
7,048
Households
1.8
Avg Household Size
39
Median Age
38%
College-Educated
91%
High-School Grad
15.3 sq mi
ZIP Area
832
Density / Sq Mi
$65,147
Median Household Income
$51,895
Median Earnings
$1,408
Median Rent
$444,300
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?
Triplex - Three occupied two-bedroom residences offer updated flooring and individual outdoor areas near Minnehaha Park.
Where is this triplex located?
The property is located at 3316 Grand Blvd Vancouver, WA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: 2,850‑square‑foot triplex built in 1972; Three units, each with 2 bedrooms and 1 bath; Private fenced yard for every unit
