Four-Unit Townhome
For Sale
$1,759,900
6803 NE 15th Court, Vancouver, WA 98665
Newly constructed four townhomes under construction for 2026 delivery, each featuring 3 bedrooms, 2.1 baths, and an attached garage.
Property Size5,888 SF
Price / SF$298.90
Days on Market105
Property Features for 6803 NE 15th Court
General Information
Standard status
Active
Size
5,888 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
4
Building Details
Year Built
2026
Listing Agency:
Keller Williams Realty Portland Premiere
Listed By:
Darryl Bodle · License #199910100
(503) 597-2444
Source:
Century21northhomes
Added: May 22
Changed: Sep 2
Last Checked: Sep 1 at 8:28PM
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 Portland Premiere
Investment Insights
Based on property information with market context.
Under construction and coming soon in 2026, this boutique four-unit townhome community offers new rental housing designed for long-term occupancy. The property will include four residences, each with a spacious 3-bedroom layout and 2.1 baths, along with an attached garage for each unit. Interior features are planned to include open-concept floor plans and contemporary finishes intended to create functional living spaces.
The community is located at 6803 NE 15th Ct in Vancouver, WA 98665, with the overall offering scheduled for completion in 2026 by a local builder.
As a newly built multifamily asset with modern building systems and durable construction materials, the property is positioned to support efficient ownership and day-to-day operations with limited near-term capital needs.
The community is located at 6803 NE 15th Ct in Vancouver, WA 98665, with the overall offering scheduled for completion in 2026 by a local builder.
As a newly built multifamily asset with modern building systems and durable construction materials, the property is positioned to support efficient ownership and day-to-day operations with limited near-term capital needs.
Key Highlights
- Boutique four‑unit townhome community under construction with 2026 delivery
- Each unit offers 3 bedrooms and 2.1 bathrooms
- Attached garages included with every townhome unit
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
$78,674
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
4.47%
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%
$1,573,480
$1.6M
Cap Rate 7%
$1,123,914
$1.1M
Cap Rate 9%
$874,156
$874.2K
Market Conditions
NOI Build-Up for 5,888 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
$118.0K $20.04/SF
− Vacancy
−$5.6K −$0.95/SF
EGI
$112.4K $19.09/SF
− OpEx
−$33.7K −$5.73/SF
NOI
$78.7K $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%
$1,573,480
Cap Rate 7%
$1,123,914
Cap Rate 9%
$874,156
Alternative Uses
Best Use
Multifamily LT 5
$1.12M
$983.4K – $1.31M
NOI $78,674 @ 7.0% cap · market cap 4.47%
Second Best
Apartment 5plus
$975.7K
$853.7K – $1.14M
NOI $68,298 @ 7.0% cap · market cap 3.88%
Theoretical Best
Office A
$1.44M
$1.26M – $1.68M
NOI $100,844 @ 7.0% cap · market cap 5.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
109
Businesses Nearby
Explore this area
Business Placement
Demographics for 98665, WA
28,780
Population
11,894
Households
2.4
Avg Household Size
38
Median Age
29%
College-Educated
93%
High-School Grad
7.4 sq mi
ZIP Area
3,889
Density / Sq Mi
$83,750
Median Household Income
$46,000
Median Earnings
$1,678
Median Rent
$447,700
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?
Quadplex - Newly constructed four townhomes under construction for 2026 delivery, each featuring 3 bedrooms, 2.1 baths, and an attached garage.
Where is this quadplex located?
The property is located at 6803 NE 15th Court Vancouver, WA.
What is the asking price?
The asking price for this property is $1,759,900.
What are key features of this property?
This property features: Boutique four‑unit townhome community under construction with 2026 delivery; Each unit offers 3 bedrooms and 2.1 bathrooms; Attached garages included with every townhome unit
