10800 7Th St Vancouver, WA 98664

This exceptional six-unit apartment building, located at 10800 NE 7th St, Vancouver, WA 98664, presents a compelling investment opportunity. Boasting a 100% occupancy rate and recently completed renovations in 2024, this property offers immediate cash flow and significant upside potential. The building comprises 4,464 square feet on a 0.45-acre lot and features six two-bedroom, one-bathroom units, each with a private backyard and in-unit laundry. Recent upgrades include new flooring, paint, bathrooms, kitchens, a new roof with updated ventilation, a resurfaced parking lot, and enhanced landscaping. Five of the six units have undergone these extensive renovations. The property's prime location in Northeast Vancouver, near I-205, provides convenient access to numerous amenities, including grocery stores and restaurants. The surrounding neighborhood is experiencing significant revitalization, further enhancing the property's value and desirability. Financial highlights include a current NOI of $71,802 and a pro-forma NOI of $87,462, translating to a current cap rate of 6.56% and a pro-forma cap rate of 7.99%. The asking price is $1,094,545.27, representing a price per unit of $182,424.21 and a price per square foot of $245.19. The property was built in 1968 and is a single-story building. The seller is open to financing options. This is a rare opportunity to acquire a high-performing, well-maintained multifamily asset in a rapidly appreciating market.