Oak Terrace Apartments | 9100 NE 15th Ave
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Oak Terrace Apartments 9100 NE 15th Ave
25 Unit Block of Flats £3,098,419 (£123,937/Unit) 5.95% Net Initial Yield Vancouver, WA 98665
Executive Summary
Foundation Group is pleased to offer the opportunity to acquire the Oak Terrace Apartments, a well-located asset in the Hazel Dell neighborhood of Vancouver, Washington. The 25 unit complex, built in 1984, is well positioned to capitalize on the continued growth of Vancouver which the U.S. Census list as one of the fastest growing cities in the Pacific Northwest.
Oak Terrace is ideally located with easy access to major highways and public transportation while being surrounded by a vibrant diverse mix of businesses, including retail stores, restaurants, and professional services. With the tightening of the Portland landlord tenant laws, Oak Terrace’s location gives investors more landlord friendly laws while only being 15 minutes from major Portland
employment centers.
Oak Terrace is a very low maintenance asset with 25 efficiently laid out one-bedroom units. Current ownership has positioned the asset perfectly for someone to immediately realize remaining management upside or come in and do light renovations and add a unit in an oversized storage unit, to maximize the value add component.
Oak Terrace is ideally located with easy access to major highways and public transportation while being surrounded by a vibrant diverse mix of businesses, including retail stores, restaurants, and professional services. With the tightening of the Portland landlord tenant laws, Oak Terrace’s location gives investors more landlord friendly laws while only being 15 minutes from major Portland
employment centers.
Oak Terrace is a very low maintenance asset with 25 efficiently laid out one-bedroom units. Current ownership has positioned the asset perfectly for someone to immediately realize remaining management upside or come in and do light renovations and add a unit in an oversized storage unit, to maximize the value add component.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| 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 - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | £3,098,419 | Apartment Style | Low Rise |
| Price Per Unit | £123,937 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.79 AC |
| Net Initial Yield | 5.95% | Building Size | 20,450 SF |
| Gross Rent Multiplier | 11.8 | Average Occupancy | 100% |
| No. Units | 25 | Number of Floors | 2 |
| Property Type | Residential | Year Built | 1984 |
| Property Subtype | Apartment | Parking Ratio | 2.64/1,000 SF |
| Price | £3,098,419 |
| Price Per Unit | £123,937 |
| Sale Type | Investment |
| Net Initial Yield | 5.95% |
| Gross Rent Multiplier | 11.8 |
| No. Units | 25 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.79 AC |
| Building Size | 20,450 SF |
| Average Occupancy | 100% |
| Number of Floors | 2 |
| Year Built | 1984 |
| Parking Ratio | 2.64/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 25 | £949.14 | 500 - 680 |
1 of 1
Bike Score ®
Very Bikeable (80)
PROPERTY TAXES
| Parcel Number | 144973-000 | Total Assessment | £2,403,635 (2024) |
| Land Assessment | £170,059 (2024) | Annual Taxes | -£1 (£0.00/sf) |
| Improvements Assessment | £2,233,577 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
144973-000
Land Assessment
£170,059 (2024)
Improvements Assessment
£2,233,577 (2024)
Total Assessment
£2,403,635 (2024)
Annual Taxes
-£1 (£0.00/sf)
Tax Year
2023
zoning
| Zoning Code | MH |
| MH |
-
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Oak Terrace Apartments | 9100 NE 15th Ave
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