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6807 NE 15th Ct, Vancouver, WA 98665
Three-residence configuration combines a primary home with two attached accessory dwelling units and separate living areas.
Property Size2,959 SF
Price / SF$337.92
Days on Market83
Property Features for 6807 NE 15th Ct
General Information
Standard status
Active
Size
2,959 SF
Class
A
Property subtype
Multifamily
Zoning
R1-5
Investment Type
Value Add
Units
Unit Mix
1 x 3BR/2.1BA, 2 x 1BR/1BA
Multifamily Units
3
Building Details
Year Built
2026
Buildings
1
Units
3
Listing Agency:
Keller Williams Realty Portland Premiere
(503) 597-2444
Listed By:
Darryl Bodle · License #199910100
Source:
Crexi
Added: Jun 11
Changed: Aug 30
Last Checked: Sep 1 at 1:39AM
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.
This triplex contains 2,959 square feet across three residences. The primary residence offers three bedrooms, 2.1 baths, an open-concept layout, loft space, high ceilings, substantial natural light, a gourmet kitchen, and designer finishes. Two attached one-bedroom, one-bath accessory dwelling units add full kitchens, stainless steel appliances, in-unit laundry, and individual living areas.
Located at 6807 NE 15th Ct in Vancouver’s Hazel Dell area, the property provides access to nearby shopping, dining, employment centers, and commuter routes serving Vancouver and the greater Portland metropolitan area. R1-5 zoning supports the recorded residential configuration.
Located at 6807 NE 15th Ct in Vancouver’s Hazel Dell area, the property provides access to nearby shopping, dining, employment centers, and commuter routes serving Vancouver and the greater Portland metropolitan area. R1-5 zoning supports the recorded residential configuration.
Key Highlights
- 2,959 SF triplex with three distinct residences
- Primary residence includes 3 bedrooms, 2.1 baths, loft space, and open‑concept living
- Two attached 1‑bedroom, 1‑bath accessory dwelling units
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
$39,537
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
3.95%
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%
$790,740
$790.7K
Cap Rate 7%
$564,814
$564.8K
Cap Rate 9%
$439,300
$439.3K
Market Conditions
NOI Build-Up for 2,959 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
$59.3K $20.04/SF
− Vacancy
−$2.8K −$0.95/SF
EGI
$56.5K $19.09/SF
− OpEx
−$16.9K −$5.73/SF
NOI
$39.5K $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%
$790,740
Cap Rate 7%
$564,814
Cap Rate 9%
$439,300
Alternative Uses
Best Use
Multifamily LT 5
$564.8K
$494.2K – $659.0K
NOI $39,537 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$490.3K
$429.0K – $572.1K
NOI $34,323 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$724.0K
$633.5K – $844.7K
NOI $50,679 @ 7.0% cap · market cap 5.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
3
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?
Triplex - Three-residence configuration combines a primary home with two attached accessory dwelling units and separate living areas.
Where is this triplex located?
The property is located at 6807 NE 15th Ct Vancouver, WA.
What is the asking price?
The asking price for this property is $999,900.
What are key features of this property?
This property features: 2,959 SF triplex with three distinct residences; Primary residence includes 3 bedrooms, 2.1 baths, loft space, and open‑concept living; Two attached 1‑bedroom, 1‑bath accessory dwelling units
