8-Unit Multifamily Opportunity with Excess Land
8 Units with Excess Land - Possible Value Add
Marketing description
The property consists of 8 total units across three residential structures on a 1.17-acre parcel with frontage along NE Fourth Plain Boulevard, one of East Vancouver’s primary commercial corridors. The asset offers a lower density site plan than many competing multifamily assets and presents a rare small-balance repositioning opportunity. Several units are occupied and generating income, while others are vacant and require varying degrees of improvement before re-lease - allowing a buyer to phase capital expenditures rather than immediately displacing the entire rent roll.
The property is located in the Maple Tree / Orchards area of unincorporated Clark County, a practical workforce and commuter location benefiting from proximity to the Vancouver Mall, surrounding retail services, major arterials, and the I-205 corridor.
The location also benefits from Clark County’s continued demographic and economic expansion. Census data shows the county added population from 503,311 in 2020 to 527,269 in 2024, while maintaining a relatively strong household-income profile with median household income of $97,536. (Census.gov)
Investment highlights
- Large 1.17-acre site The parcel size is unusual for an 8-unit property in this corridor and Provides a compelling land-banking, repositioning, or redevelopment Story.
- General commercial zoning
- Gc zoning broadens the property’s strategic appeal beyond a simple Small-apartment acquisition and may support future alternative use Scenarios, subject to buyer verification and county approval.
- Value-add through renovation and lease-up Multiple vacant units require restoration or cosmetic improvement, Giving a new owner the ability to create value through unit turnover, Finish upgrades, and operational stabilization.
- Diverse unit mix The project includes studio, 1-bedroom, 2-bedroom, and 3-bedroom Product, helping diversify tenant demand across several renter profiles.
- Recent capital improvements
- City sewer connection completed in 2020
- New roof on the 10335/10337 duplex in 2022
- New gas wall furnaces in both duplex structures
- Complete post-fire gut renovation and update of unit 10331
- 2025 update to unit 10337
- Transit / retail / freeway access The property benefits from proximity to the vancouver mall, orchards Retail corridor, regional employment nodes, and I-205 connectivity.
- Operational upside The current utility structure is mixed across buildings, presenting an Opportunity for a buyer to review rubs-style reimbursement practices, Flat utility bill-backs, and lease structure standardization as units turn.
- Grocery and daily-needs retail
- Employment and service uses along the Fourth Plain and Vancouver Mall corridors
- Regional connectivity to Downtown Vancouver, North Portland, and Portland International Airport
- Public transit and major commuter routes
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