1016 NE 86TH ST Vancouver WA 98665-8936

Northmarq is pleased to present Sydney Court in Vancouver, Washington. This 20 unit, turnkey asset is available at an in place 6.45% cap rate with potential for an additional 11% in EGI to be captured by renovating the remaining unrenovated units. Currently 14 of the 20 units are renovated and achieving premium rents. The building is composed of 18 two-bedroom units, 1 two-bedroom townhome unit, and 1 three-bedroom townhome unit. All units have an in-unit WD and the property received a new roof, exterior paint, and parking lot update. Sydney Court presents a great opportunity for an investor to purchase a turnkey asset in a strong market with a clear and achievable upside.

• In place cap Rate 6.45%, stabilizing to a 6.95% cap on cost assuming a $150,000 renovation budget.

• Current GRM 10.46

• Turnkey asset with the potential to renovate the six remaining unrenovated units to capture an additional 11% in EGI.

• Well located just off of I5, 10 miles from Portland.

• Vancouver, WA is strongly supported by the Portland metro and is projected to see 5.4% population growth over the next five years (CoStar).

• Clark County Population 2022 - 516,779 up 21% since 2010 Population of 426,772

• Part of Portland, OR metro market which has a population of 2.5M people.