Updated Three-Bedroom
For Sale
$1,280,000
8015 NE 117th Ave, Vancouver, WA 98662
Fully occupied multifamily property with refreshed exterior components and interior flooring.
Property Size3,600 SF
Price / SF$355.56
Days on Market49
Property Features for 8015 NE 117th Ave
General Information
Standard status
Active
Size
3,600 SF
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Multifamily Units
3
Building Details
Year Built
1970
Listing Agency:
Pounder Realty LLC
Listed By:
Grayson Pounder · License #200008193
(503) 680-4638
Source:
Evergreenrealestatepartners
Added: Aug 30
Changed: Oct 13
Last Checked: Oct 16 at 1:54PM
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 Pounder Realty LLC
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Investment Insights
Based on property information with market context.
This 3,600-square-foot triplex contains three-bedroom townhome units and is fully occupied. The 1970-built property has received several recent improvements, including new roofing, windows, siding, and replacement flooring inside the units.
The property is located at 8015 NE 117th Ave in Vancouver, Washington. Its townhome configuration and current occupancy provide a straightforward multifamily ownership profile, while the updated exterior and interior finishes support continued residential use. A neighboring duplex is also available, creating a potential opportunity to evaluate both properties together.
The property is located at 8015 NE 117th Ave in Vancouver, Washington. Its townhome configuration and current occupancy provide a straightforward multifamily ownership profile, while the updated exterior and interior finishes support continued residential use. A neighboring duplex is also available, creating a potential opportunity to evaluate both properties together.
Key Highlights
- Three‑bedroom townhome configuration across three units
- 3,600 SF triplex built in 1970
- Fully occupied at present
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,102
Cap Rate
3.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$962,040
$962.0K
Cap Rate 7%
$687,171
$687.2K
Cap Rate 9%
$534,467
$534.5K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$72.1K $20.04/SF
− Vacancy
−$3.4K −$0.95/SF
EGI
$68.7K $19.09/SF
− OpEx
−$20.6K −$5.73/SF
NOI
$48.1K $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%
$962,040
Cap Rate 7%
$687,171
Cap Rate 9%
$534,467
Alternative Uses
Best Use
Multifamily LT 5
$687.2K
$601.3K – $801.7K
NOI $48,102 @ 7.0% cap · market cap 3.76%
Second Best
Apartment 5plus
$596.5K
$522.0K – $696.0K
NOI $41,758 @ 7.0% cap · market cap 3.26%
Theoretical Best
Office A
$880.8K
$770.7K – $1.03M
NOI $61,657 @ 7.0% cap · market cap 4.82%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
282
Businesses Nearby
Explore this area
Business Placement
Demographics for 98662, WA
37,134
Population
14,609
Households
2.5
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
13.0 sq mi
ZIP Area
2,856
Density / Sq Mi
$91,883
Median Household Income
$45,847
Median Earnings
$1,685
Median Rent
$424,200
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?
Triplex - Fully occupied multifamily property with refreshed exterior components and interior flooring.
Where is this triplex located?
The property is located at 8015 NE 117th Ave Vancouver, WA.
What is the asking price?
The asking price for this property is $1,280,000.
What are key features of this property?
This property features: Three‑bedroom townhome configuration across three units; 3,600 SF triplex built in 1970; Fully occupied at present
