Occupied Triplex Near SR
For Sale
$675,000
3316 Grand Boulevard, Vancouver, WA 98661
Three occupied units provide established tenancy along a dead-end road with convenient SR 500 access.
Property Size2,850 SF
Days on Market33
Property Features for 3316 Grand Boulevard
General Information
Standard status
Active
Size
2,850 SF
Total Parking Spaces
6
Property subtype
Residential Income
Zoning
Multi-Family
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Units
Unit Mix
3 x 2BR/1BA
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$5,062
Building Details
Building Size
2,850 SF
Year Built
1972
Units
3
Listing Agency:
Coldwell Banker United Brokers
(360) 687-3183
Listed By:
Matt Bailey
(360) 687-3183
Source:
Multifamilyspecialist
Added: Jul 16
Changed: Aug 12
Last Checked: Aug 16 at 4:22PM
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.
Built in 1972, this triplex contains three residential units, each configured with two bedrooms and one bathroom. The property is situated on a dead-end road and offers access to SR 500, supporting straightforward connectivity from the site.
All units are occupied by tenants who have remained in place for more than four years. The property is zoned Multi-Family and is located at 3316 Grand Boulevard in Vancouver, Washington.
All units are occupied by tenants who have remained in place for more than four years. The property is zoned Multi-Family and is located at 3316 Grand Boulevard in Vancouver, Washington.
Key Highlights
- Triplex with 3 residential units
- Each unit includes 2 bedrooms and 1 bathroom
- All units occupied by tenants in place for 4+ years
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
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
518
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 occupied units provide established tenancy along a dead-end road with convenient SR 500 access.
Where is this triplex located?
The property is located at 3316 Grand Boulevard 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: Triplex with 3 residential units; Each unit includes 2 bedrooms and 1 bathroom; All units occupied by tenants in place for 4+ years
