Remodeled
New
For Sale
$665,000
4522 Pacific Ave, Vancouver, WA 98663
Three-unit residential income property with one three-bedroom residence and two one-bedroom units.
Property Size2,289 SF
Price / SF$290.52
Days on Market2
Property Features for 4522 Pacific Ave
General Information
Standard status
Active
Size
2,289 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Keller Williams Realty
Listed By:
John Rose · License #25225
(360) 693-3336
Source:
Rosecityrealtygroup
Added: Sep 1
Last Checked: Sep 1 at 10:04PM
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 Keller Williams Realty
Investment Insights
Based on property information with market context.
This remodeled triplex contains 2,289 square feet across three residential units. The configuration includes one 1,000-square-foot, three-bedroom unit and two 640-square-foot, one-bedroom units. Garage space is used for storage rooms, adding functional support space to the property.
Built in 1900, the property occupies an oversized lot measuring more than 12,000 square feet. It is located at 4522 Pacific Ave in Vancouver’s Lincoln neighborhood, with proximity to Main St and downtown Vancouver.
Built in 1900, the property occupies an oversized lot measuring more than 12,000 square feet. It is located at 4522 Pacific Ave in Vancouver’s Lincoln neighborhood, with proximity to Main St and downtown Vancouver.
Key Highlights
- Remodeled triplex with 2,289 square feet
- Unit mix includes one 1,000‑square‑foot, three‑bedroom unit and two 640‑square‑foot, one‑bedroom units
- Oversized 12k+ square foot lot
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
$30,585
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
4.60%
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%
$611,700
$611.7K
Cap Rate 7%
$436,929
$436.9K
Cap Rate 9%
$339,833
$339.8K
Market Conditions
NOI Build-Up for 2,289 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
$45.9K $20.04/SF
− Vacancy
−$2.2K −$0.95/SF
EGI
$43.7K $19.09/SF
− OpEx
−$13.1K −$5.73/SF
NOI
$30.6K $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%
$611,700
Cap Rate 7%
$436,929
Cap Rate 9%
$339,833
Alternative Uses
Best Use
Multifamily LT 5
$436.9K
$382.3K – $509.8K
NOI $30,585 @ 7.0% cap · market cap 4.60%
Second Best
Apartment 5plus
$379.3K
$331.9K – $442.5K
NOI $26,551 @ 7.0% cap · market cap 3.99%
Theoretical Best
Office A
$560.1K
$490.1K – $653.4K
NOI $39,204 @ 7.0% cap · market cap 5.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
355
Businesses Nearby
Explore this area
Business Placement
Demographics for 98663, WA
15,188
Population
6,753
Households
2.2
Avg Household Size
39
Median Age
32%
College-Educated
91%
High-School Grad
4.1 sq mi
ZIP Area
3,704
Density / Sq Mi
$84,590
Median Household Income
$47,747
Median Earnings
$1,538
Median Rent
$430,900
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 residential income property with one three-bedroom residence and two one-bedroom units.
Where is this triplex located?
The property is located at 4522 Pacific Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $665,000.
What are key features of this property?
This property features: Remodeled triplex with 2,289 square feet; Unit mix includes one 1,000‑square‑foot, three‑bedroom unit and two 640‑square‑foot, one‑bedroom units; Oversized 12k+ square foot lot
