Four-Unit Residential
For Sale
$700,000
908 NE 1ST Ave, Battle Ground, WA 98604
MultiFamily, BattleGround, WA
Property Size2,736 SF
Lot Size0.36 Acres
Price / SF$255.85
Days on Market149
Property Features for 908 NE 1ST Ave
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R7
Bedrooms
4
Bathrooms
3
Full bathrooms
3
Rooms
Bathroom 1, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 2, Bathroom 3, Bedroom 4
Subdivision
ERICKSONS SUB-DIVISION
Elementary school
Captain Strong
Middle school
Chief Umtuch
High school
Battle Ground
Directions
W Main St and N Parkway Ave to NE 1st Ave
Standard status
Active
APN
091052030
Size
2,736 SF
Lot size
0.36 Acres
Taxes and HOA fees
Tax Description
ERICKSONS SUB-DIV ADJ LOT 15 G317 FOR ASSESSOR USE ONLY BEGINNING
Tax Annual Amount
3600
Legal Description
ERICKSONS SUB-DIV ADJ LOT 15 G317 FOR ASSESSOR USE ONLY BEGINNING
Amenities
laundry hook ups
backyards or side yards
detached storage sheds
Building Details
Year built
1996
Floors in Building
1
Number of units
4
Roof type
Composition
Listing Agency:
Windermere Northwest Living · Windermere Real Estate
(360) 993-2222
Listed By:
Stefanie Foster
(360) 903-7200
Added: Apr 15
Changed: Sep 10
Last Checked: Sep 10 at 9:06PM
MLS# 283597269
Copyright © 2026 Regional Multiple Listing Services. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This 2,736-square-foot quadplex, built in 1996, contains four residences: two two-bedroom, one-bath units and two one-bedroom, one-bath units. Each unit includes laundry hookups, while heating is provided by a mini-split or wall-mounted system. Carpet is used in the bedrooms and living areas, with linoleum in the kitchens and bathrooms. The property also includes detached storage sheds serving some units, along with backyard or side-yard areas for most residences.
Six parking spaces support the property, which is located near Main Street in Battle Ground. All four units are currently rented to long-term tenants. The property is zoned R7, and offers are subject to interior inspection.
Six parking spaces support the property, which is located near Main Street in Battle Ground. All four units are currently rented to long-term tenants. The property is zoned R7, and offers are subject to interior inspection.
Key Highlights
- Four‑unit configuration with two 2 bed/1 bath residences and two 1 bed/1 bath residences
- 2,736 square feet on a 0.36‑acre lot
- All units currently rented to long‑term tenants
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
$35,646
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
5.09%
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%
$712,920
$712.9K
Cap Rate 7%
$509,229
$509.2K
Cap Rate 9%
$396,067
$396.1K
Market Conditions
NOI Build-Up for 2,736 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
$54.2K $19.80/SF
− Vacancy
−$3.3K −$1.19/SF
EGI
$50.9K $18.61/SF
− OpEx
−$15.3K −$5.58/SF
NOI
$35.6K $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%
$712,920
Cap Rate 7%
$509,229
Cap Rate 9%
$396,067
Alternative Uses
Best Use
Multifamily LT 5
$509.2K
$445.6K – $594.1K
NOI $35,646 @ 7.0% cap · market cap 5.09%
Second Best
Apartment 5plus
$475.4K
$416.0K – $554.7K
NOI $33,280 @ 7.0% cap · market cap 4.75%
Theoretical Best
Specialty Retail
$666.6K
$583.2K – $777.7K
NOI $46,659 @ 7.0% cap · market cap 6.67%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully occupied quadplex with varied unit layouts, individual laundry hookups, and outdoor areas for most residences.
Where is this quadplex 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 $700,000.
What are key features of this property?
This property features: Four‑unit configuration with two 2 bed/1 bath residences and two 1 bed/1 bath residences; 2,736 square feet on a 0.36‑acre lot; All units currently rented to long‑term tenants
