6-Unit Multifamily
For Sale
$1,299,999
908 NE 1st Ave, Battle Ground, WA 98604
Three duplex buildings across two tax lots with resident laundry hookups and outdoor areas for most units.
Property Size4,372 SF
Price / SF$297.35
Days on Market41
Property Features for 908 NE 1st Ave
General Information
Standard status
Active
Size
4,372 SF
Total Parking Spaces
10
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
4 x 2BR/1BA, 2 x 1BR/1BA
Multifamily Units
6
Amenities
laundry hookups
backyards
storage sheds
Building Details
Year Built
1996
Buildings
3
Listing Agency:
Windermere Northwest Living
(360) 993-2222
Listed By:
Stefanie Foster
Source:
Evergreenrealestatepartners
Added: Jul 21
Changed: Aug 28
Last Checked: Aug 29 at 12:10PM
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 Windermere Northwest Living
Investment Insights
Based on property information with market context.
This multifamily property consists of three duplex buildings across two separate tax lots, totaling 4,372 square feet and six units. The unit mix includes four two-bedroom, one-bath residences and two one-bedroom, one-bath residences. Built in 1996, the property includes laundry hookups in every unit, mini-split or wall heat, carpeted bedrooms and living areas, and linoleum flooring in the kitchens and bathrooms.
The site provides 10 parking spaces, with backyards or side yards serving most units. Some residences also have detached storage sheds. All six units are currently rented, with long-term tenants in place. The property is located at 908 NE 1st Ave in Battle Ground, with Main Street within a short walk.
The site provides 10 parking spaces, with backyards or side yards serving most units. Some residences also have detached storage sheds. All six units are currently rented, with long-term tenants in place. The property is located at 908 NE 1st Ave in Battle Ground, with Main Street within a short walk.
Key Highlights
- Six total units: four 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units
- Three duplex buildings situated on two separate tax lots
- 4,372 square feet; built in 1996
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
$56,960
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
4.38%
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%
$1,139,200
$1.1M
Cap Rate 7%
$813,714
$813.7K
Cap Rate 9%
$632,889
$632.9K
Market Conditions
NOI Build-Up for 4,372 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
$86.6K $19.80/SF
− Vacancy
−$5.2K −$1.19/SF
EGI
$81.4K $18.61/SF
− OpEx
−$24.4K −$5.58/SF
NOI
$57.0K $13.03/SF
Area
Clark County, WA
Vacancy
6.00%
Lease Rate
$19.80 /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%
$1,139,200
Cap Rate 7%
$813,714
Cap Rate 9%
$632,889
Alternative Uses
Best Use
Multifamily LT 5
$813.7K
$712.0K – $949.3K
NOI $56,960 @ 7.0% cap · market cap 4.38%
Second Best
Apartment 5plus
$759.7K
$664.8K – $886.3K
NOI $53,180 @ 7.0% cap · market cap 4.09%
Theoretical Best
Specialty Retail
$1.07M
$932.0K – $1.24M
NOI $74,559 @ 7.0% cap · market cap 5.74%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
663
Businesses Nearby
Explore this area
Business Placement
Demographics for 98604, WA
38,245
Population
13,557
Households
2.8
Avg Household Size
39
Median Age
28%
College-Educated
94%
High-School Grad
72.1 sq mi
ZIP Area
530
Density / Sq Mi
$108,616
Median Household Income
$58,693
Median Earnings
$1,492
Median Rent
$543,500
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?
Multifamily property - Three duplex buildings across two tax lots with resident laundry hookups and outdoor areas for most units.
Where is this multifamily property located?
The property is located at 908 NE 1st Ave Battle Ground, WA.
What is the asking price?
The asking price for this property is $1,299,999.
What are key features of this property?
This property features: Six total units: four 2‑bedroom/1‑bath units and two 1‑bedroom/1‑bath units; Three duplex buildings situated on two separate tax lots; 4,372 square feet; built in 1996
