Seven-Unit Multifamily
504 West Evergreen Boulevard Vancouver, WA 98660
For Sale
$1,050,000
Seven-unit property offering 6 studio units and 1 one-bedroom unit, with landlord-paid utilities.
Property Size2,790 SF
Price / SF$376.34
Days on Market117
Property Features for 504 West Evergreen Boulevard
General Information
Standard status
Active
Size
2,790 SF
Property subtype
Multi Family
Building Details
Year Built
1910
Listing Agency:
The Phillips Group Inc
(360) 798-6058
Listed By:
Elaine Armstrong
(360) 798-6058
Source:
Compass
Added: Apr 2
Changed: Jul 23
Last Checked: Jul 27 at 11:07AM
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
Investment Insights
Based on property information with market context.
This seven-unit multifamily building consists of six studio apartments and one one-bedroom unit. The landlord covers all utilities, and the property includes solar panels intended for energy savings. Interior features include hardwood floors.
The building is located downtown, a block from the Farmers Market and Esther Short Park, and within minutes of Jantzen Beach. The seller notes that appointments are required for showings.
All unit information provided indicates a mix of studio and one-bedroom layouts, supported by the building’s overall residential income configuration.
The building is located downtown, a block from the Farmers Market and Esther Short Park, and within minutes of Jantzen Beach. The seller notes that appointments are required for showings.
All unit information provided indicates a mix of studio and one-bedroom layouts, supported by the building’s overall residential income configuration.
Key Highlights
- 7‑plex with 6 studio units and 1 one‑bedroom unit
- Landlord pays all utilities
- Built in 1910; 2 stories with concrete perimeter foundation
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $61.9k | $22.20 |
| − Vacancy | −$3.1k | −$1.11 |
| EGI | $58.8k | $21.09 |
| − OpEx | −$26.5k | −$9.49 |
| NOI | $32.4k | $11.60 |
2,790 SF · lease $22.20/SF/yr · vacancy 5.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$462.3K
$404.5K – $539.4K
NOI $32,363 @ 7.0% cap · market cap 3.08%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$682.6K
$597.3K – $796.4K
NOI $47,784 @ 7.0% cap · market cap 4.55%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit property offering 6 studio units and 1 one-bedroom unit, with landlord-paid utilities.
Where is this apartment building located?
The property is located at 504 West Evergreen Boulevard Vancouver, WA.
What is the asking price?
The asking price for this property is $1,050,000.
What are key features of this property?
This property features: 7‑plex with 6 studio units and 1 one‑bedroom unit; Landlord pays all utilities; Built in 1910; 2 stories with concrete perimeter foundation
