7-Unit Apartment
For Sale
$950,000
504 W Evergreen Blvd W, Vancouver, WA 98660
Downtown apartment property with six studios, one one-bedroom unit, solar panels, and hardwood flooring.
Property Size2,790 SF
Price / SF$340.50
Days on Market81
Property Features for 504 W Evergreen Blvd W
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Multi-Family
Units
Unit Mix
6 x studio, 1 x 1BR
Multifamily Units
7
Amenities
solar panels
hardwood floors
Building Details
Year Built
1910
Listing Agency:
The Phillips Group Inc
Listed By:
Elaine Armstrong · License #9556
(360) 798-6058
Source:
Wisser
Added: Jul 29
Changed: Oct 5
Last Checked: Oct 5 at 11:15PM
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 The Phillips Group Inc
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Investment Insights
Based on property information with market context.
This 2,790-square-foot apartment property contains seven units, including six studio apartments and one one-bedroom residence. Built in 1910, the building features hardwood floors and solar panels. The landlord pays all utilities, providing a centralized utility arrangement across the property.
The property is located at 504 W Evergreen Blvd W in downtown Vancouver, one block from the Farmers Market and Esther Short Park. The Vancouver Waterfront is nearby, and Jantzen Beach is minutes away. Showings are available by appointment only.
The property is located at 504 W Evergreen Blvd W in downtown Vancouver, one block from the Farmers Market and Esther Short Park. The Vancouver Waterfront is nearby, and Jantzen Beach is minutes away. Showings are available by appointment only.
Key Highlights
- Seven‑unit apartment property with six studios and one one‑bedroom unit
- 2,790 SF building constructed in 1910
- Landlord pays all utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$32,363
Cap Rate
3.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,260
$647.3K
Cap Rate 7%
$462,329
$462.3K
Cap Rate 9%
$359,589
$359.6K
Market Conditions
NOI Build-Up for 2,790 SF
Gross rent
$61.9K $22.20/SF
− Vacancy
−$3.1K −$1.11/SF
EGI
$58.8K $21.09/SF
− OpEx
−$26.5K −$9.49/SF
NOI
$32.4K $11.60/SF
Area
Vancouver, WA
Vacancy
5.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$647,260
Cap Rate 7%
$462,329
Cap Rate 9%
$359,589
Alternative Uses
Best Use
Apartment 5plus
$462.3K
$404.5K – $539.4K
NOI $32,363 @ 7.0% cap · market cap 3.41%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$682.6K
$597.3K – $796.4K
NOI $47,784 @ 7.0% cap · market cap 5.03%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
3,574
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Downtown apartment property with six studios, one one-bedroom unit, solar panels, and hardwood flooring.
Where is this apartment building located?
The property is located at 504 W Evergreen Blvd W Vancouver, WA.
What is the asking price?
The asking price for this property is $950,000.
What are key features of this property?
This property features: Seven‑unit apartment property with six studios and one one‑bedroom unit; 2,790 SF building constructed in 1910; Landlord pays all utilities
