742 9th Street 742-760 9th St 4 Unit Apartment Building $1,459,783 CAD ($364,946 CAD/Unit) 5.88% Cap Rate Washougal, WA 98671

» Pride-of-Ownership Asset in Established Washougal Neighborhood
742 9th Street is a meticulously maintained four-unit property configured
as two duplex-style buildings on a single lot, offering investors a clean,
low-density asset in a quiet residential setting. Major systems have been
proactively cared for, including exterior paint completed within the last year,
copper plumbing throughout, water heaters replaced approximately two years
ago, and roofs approximately 15 years old minimizing near-term capital needs
and providing a stable income foundation from day one.
» Functional Layout with Tenant-Friendly Features
Each unit benefits from washer/dryer hookups, cadet heating, and functional
floor plans that support long-term tenant retention. The property includes
private backyard space, a private driveway, and a detached 4-car garage
with individual storage lockers a rare combination of amenities for a small
multifamily asset that drives stickier tenancies and supports rent premiums
relative to comparable vintage product.
» Light Value-Add Through Natural Turnover
Three of the four units have already been updated with modern interior
finishes, leaving one classic unit as a clear path for additional rental upside
through future renovation at turnover. This light-touch business plan allows
a new owner to capture incremental rent growth organically without the
disruption, capital intensity, or execution risk of a full repositioning.
» Strategic Location in the Growing Camas-Washougal Submarket
The property sits within the combined Camas-Washougal market, one of Clark County’s most
desirable submarkets, anchored by strong household incomes, low unemployment, and steady
population growth. Median household income in Camas is estimated between $121,000 and
$140,000, and the 2025 unemployment rate of 3.6% outpaces both state and national averages.
The area continues to attract residents seeking small-town quality of life with proximity to major
metro employment.
» Diverse Employment Base Across the Camas-Washougal Corridor
The submarket is anchored by a diversified mix of employers including WaferTech (a TSMC
subsidiary providing semiconductor contract manufacturing), Sharp Microelectronics, Georgia-
Pacific, and Fred Meyer, alongside a growing base of tech, healthcare, and professional services
firms. Many residents also commute to nearby Portland or Vancouver, leveraging the area’s
quality of life while accessing the broader Silicon Forest tech corridor employment pool providing
a deep and resilient renter demand base.
» Walkable to Downtown Washougal and Major Waterfront Investment
The property is positioned within easy reach of downtown Washougal’s growing restaurant and
retail scene (Trap Door Brewery, Washougal Times, Asaka Sushi) and the Evergreen Marketplace/
Safeway anchor center, with downtown Camas’s vibrant dining and shopping district just minutes
away. Major investment is reshaping the waterfront: the Hyas Point master-planned community at
Washougal Waterfront Park is delivering 276 apartments and 56,000 SF of retail and restaurant
space along the Columbia River, designed as a walkable mixed-use destination connecting
downtown Washougal and downtown Camas. SR-14 provides direct connectivity west to
Vancouver and the I-205 corridor to Portland.