Contemporary Triplex with
4811 NE 37th CT, Vancouver, WA 98661
For Sale
$1,360,000
Three-unit property completed in 2023, with private outdoor space, individual laundry, and contemporary kitchens in each residence.
Property Size4,952 SF
Price / SF$274.64
Days on Market65
Property Features for 4811 NE 37th CT
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Pacific Coast Real Estate & Development, LLC
(541) 404-8388
Listed By:
Donna Roberts
(360) 844-3142
Source:
Donnarobertsgroup
Added: Sep 11
Changed: Nov 12
Last Checked: Nov 12 at 7:06AM
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 Pacific Coast Real Estate & Development, LLC
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Investment Insights
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Completed in 2023, this 4,952-square-foot triplex contains three fully leased residences. Each unit pairs an open kitchen and living area with luxury vinyl plank flooring on the main level, quartz counters, stainless-steel appliances, blinds, and an in-unit washer and dryer. Refrigerators are included, and each residence has a private backyard, a two-car garage, and its own driveway parking.
The property is located at 4811 NE 37th CT in Vancouver, with access to SR-500 and I-5. The HOA handles routine roof and gutter cleaning. The property was initially platted as three tax parcels before being consolidated into one. After the mortgage is satisfied and property taxes are current, the owner may submit a GIS lot reconfiguration request to pursue restoration of the separate parcels, subject to jurisdictional approval.
The property is located at 4811 NE 37th CT in Vancouver, with access to SR-500 and I-5. The HOA handles routine roof and gutter cleaning. The property was initially platted as three tax parcels before being consolidated into one. After the mortgage is satisfied and property taxes are current, the owner may submit a GIS lot reconfiguration request to pursue restoration of the separate parcels, subject to jurisdictional approval.
Key Highlights
- 2023‑built triplex with 4,952 SF and three fully leased units
- Each residence includes a two‑car garage, private backyard, and dedicated driveway parking
- Open kitchen and living layouts with quartz countertops and stainless‑steel appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$66,167
Cap Rate
4.87%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,323,340
$1.3M
Cap Rate 7%
$945,243
$945.2K
Cap Rate 9%
$735,189
$735.2K
Market Conditions
NOI Build-Up for 4,952 SF
Gross rent
$99.2K $20.04/SF
− Vacancy
−$4.7K −$0.95/SF
EGI
$94.5K $19.09/SF
− OpEx
−$28.4K −$5.73/SF
NOI
$66.2K $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 Rate 5%
$1,323,340
Cap Rate 7%
$945,243
Cap Rate 9%
$735,189
Alternative Uses
Best Use
Multifamily LT 5
$945.2K
$827.1K – $1.10M
NOI $66,167 @ 7.0% cap · market cap 4.87%
Second Best
Apartment 5plus
$820.6K
$718.0K – $957.4K
NOI $57,441 @ 7.0% cap · market cap 4.22%
Theoretical Best
Office A
$1.21M
$1.06M – $1.41M
NOI $84,813 @ 7.0% cap · market cap 6.24%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
126
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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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three-unit property completed in 2023, with private outdoor space, individual laundry, and contemporary kitchens in each residence.
Where is this triplex located?
The property is located at 4811 NE 37th CT Vancouver, WA.
What is the asking price?
The asking price for this property is $1,360,000.
What are key features of this property?
This property features: 2023‑built triplex with 4,952 SF and three fully leased units; Each residence includes a two‑car garage, private backyard, and dedicated driveway parking; Open kitchen and living layouts with quartz countertops and stainless‑steel appliances
