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Sydney Court 1016 NE 86th St 20 Unit Apartment Building $5,115,877 CAD ($255,794 CAD/Unit) Vancouver, WA 98665

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Investment Highlights

Attractive In-Place Yield: Offered at a 6.53% capitalization rate with stable in-place cash flow and strong current operations.
Strong Occupancy & Demand: Currently 95% occupied, demonstrating consistent tenant demand.
Desirable Unit Mix & Amenities: Spacious two- and three-bedroom floor plans averaging 858 square feet per unit, all featuring in-unit W&D

Rental Upside Potential: Current rents are approximately 7.89% below market.
Extensive Property Upgrades: 18 of 20 units have been extensively renovated including but not limited to stainless appliances, quartz counters, etc.

Executive Summary

Northmarq is pleased to present Sydney Court, a 20-unit multifamily investment opportunity located in the highly desirable Hazel Dell neighborhood of Vancouver, Washington. Originally constructed in 1968, the property offers investors a well-maintained apartment community with stable in-place cash flow and attractive value-add potential. The property features a desirable mix of two-bedroom, one-bathroom and three-bedroom, two-bathroom floor plans averaging approximately 858 square feet per unit, with full-size in-unit washers and dryers in every apartment, providing spacious, well-appointed layouts that appeal to a broad tenant base.
Offered at $3,650,000 ($183,000 per unit / $213 per NRSF), the property generates an attractive 6.47% in-place capitalization rate and is currently 95% occupied, demonstrating strong tenant demand and operational stability. Investors have the opportunity to capture additional revenue growth, with current rents approximately 7.89% below market levels. Recent extensive improvements to 18 of the 20 units include, but are not limited to, stainless appliances, quartz counters, new cabinets, flooring, trim, doors and lighting. The unit improvements, along with a new roof in 2022, enhance the property’s appeal while minimizing near-term capital expenditure requirements.
Located within the established Hazel Dell submarket of Vancouver, the property benefits from proximity to a major retail corridor anchored by national retailers including Walmart, Target, and Kohl’s, as well as the Hazel Dell Marketplace shopping center. Residents enjoy convenient access to shopping, dining, employment centers, and regional transportation routes, supporting continued tenant demand and long-term investment stability.

Sydney Court_OM RS

Property Facts

Price	$5,115,877 CAD	Lot Size	0.48 AC
Price Per Unit	$255,794 CAD	Building Size	19,798 SF
Sale Type	Investment	Average Occupancy	95%
No. Units	20	No. Stories	2
Property Type	Multifamily	Year Built	1968
Property Subtype	Apartment	Parking Ratio	1.41/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Building Class	C
Zoning	CH, Vancouver

Price	$5,115,877 CAD
Price Per Unit	$255,794 CAD
Sale Type	Investment
No. Units	20
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.48 AC
Building Size	19,798 SF
Average Occupancy	95%
No. Stories	2
Year Built	1968
Parking Ratio	1.41/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	CH, Vancouver