ON THE MARKET // 1005-1101 NE Minnehaha Street & 6013 NE 10th Avenue, Vancouver, WA
Avondbloem & Royal West
On the Market
Portfolio:$2,575,000
Avondbloem:
$1,400,000
Royal West:
$1,175,000
The Avondbloem & Royal West Apartments are located in a vibrant community located within the West Minnehaha neighborhood of Vancouver, WA. Originally constructed in 1965 & 1970, The Avondbloem & Royal West Apartments offers incoming investors a value-add opportunity to reposition the community and achieve a 45% premium over current rents. Comprised of ten 832 SF two-bedroom one bath (Royal West) and twelve 840 SF two-bedroom one bath units, the property adheres to working professionals looking for extra space or small families.
Vancouver, the fourth-largest city in Washington, is a growing metro with a strong economic base inclusive of Peace Health Vancouver, Ilani Casino Resort, HP Vancouver & ZoomInfo as some of the largest employers. With a current population of 196,442 and anticipated population growth of 22% by 2030, Vancouver benefits as Portland’s largest suburban market and offers lower vacancy rates than the broader Portland metro thanks to a sustained interest from renters and limited new supply.
Property Overview
ADDRESS
1005-1101 NE Minnehaha Street & 6013 NE 10th Avenue, Vancouver, WA
RESIDENTIAL SF
±18,400 SF
NEIGHBORHOOD
Hazel Dell
SITE AREA
68,390 SF (1.57 Acres)
YEAR BUILT
1965 & 1970
ZONING
R-30
UNITS
22 Units
PARKING
22 Off-Street Spaces
Location
Executive Highlights
-
Value-Add Opportunity
An incoming investor can achieve 45% premiums over existing rents by completing interior renovations
-
Ample Off-Street Parking
22 off street parking spaces, accommodating a 1:1 unit parking ratio
-
Oversized Lot With R-30 Zoning
68,390 square feet of urban high density zoning
(R-30) for future development opportunity
-
Opportunity to Add Washer/Dryer
Royal West (10 Units) has in unit laundry hookups already installed easily allowing an incoming investor to install washer/dryers.
-
Strong Unit Mix
Spacious two-bedroom units, averaging 836 square feet. Units feature separate living and dining areas, with select units offering private back patios and in unit laundry hookups
-
Desirable Suburban Location With Convenient Access To Vancouver & Portland, OR
- 3.2 miles to Downtown Vancouver
- 12 miles to Downtown Portland
- Near the Ellen Davis Trail, Hazel Dell Community Park & Arnold Park
Gallery
