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Plainsmen Apartments 10701 NE 59th St 16 Unit Apartment Building $5,549,461 CAD ($346,841 CAD/Unit) 6.54% Cap Rate Vancouver, WA 98662
EXECUTIVE SUMMARY
This 16-unit property at 10701 NE 59th St offers investors immediate income with a 6.54% cap rate and the security of full renovations already completed. Each 2BR/1BA apartment showcases contemporary finishes, durable hard-surface flooring, and slab countertops in open, light-filled layouts. The desirable Five Corners location delivers high walkability, onsite parking, and close proximity to employment centers, retail, and transit—driving strong tenant demand. With minimal ongoing capital needs, this property is positioned for stable cash flow and long-term appreciation in one of Vancouver’s most active rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,549,461 CAD | Lot Size | 0.67 AC |
| Price Per Unit | $346,841 CAD | Construction Status | Under Renovation |
| Sale Type | Investment | Building Size | 12,464 SF |
| Cap Rate | 6.54% | Average Occupancy | 56% |
| No. Units | 16 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1968/2026 |
| Property Subtype | Apartment | Parking Ratio | 2.08/1,000 SF |
| Building Class | B | ||
| Zoning | GC - General Commercial | ||
| Price | $5,549,461 CAD |
| Price Per Unit | $346,841 CAD |
| Sale Type | Investment |
| Cap Rate | 6.54% |
| No. Units | 16 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 0.67 AC |
| Construction Status | Under Renovation |
| Building Size | 12,464 SF |
| Average Occupancy | 56% |
| No. Stories | 2 |
| Year Built/Renovated | 1968/2026 |
| Parking Ratio | 2.08/1,000 SF |
| Zoning | GC - General Commercial |
AMENITIES
UNIT AMENITIES
- Kitchen
- Tub/Shower
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 16 | - | 750 |
1 1
Walk Score®
Very Walkable (72)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 106970-000 | Total Assessment | $3,021,044 CAD (2025) |
| Land Assessment | $404,449 CAD (2025) | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $2,616,596 CAD (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
106970-000
Land Assessment
$404,449 CAD (2025)
Improvements Assessment
$2,616,596 CAD (2025)
Total Assessment
$3,021,044 CAD (2025)
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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Plainsmen Apartments | 10701 NE 59th St
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