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Vista Villa Apartments Plus Potential Development Land

Vista Villa Apartments Plus Potential Development Land

http://www.josephbernard.net/vista-villa-apartments-plus-potential-development-
Address:
4501 NE 51st St, Vancouver, Washington 98661
Price:
$3,190,000
Units:
23
Price per unit:
$138,696
Cap Rate:
5.46%
Year Built:
1960/1980

Highlights

  • 2.47 acres (potential to split off four residential lots)
  • Washer/dryer hookups
  • Large units
  • Nice wood cabinetry
  • Multiple closets in units
  • BBQ area
  • Hilltop views of Portland
  • Off-street parking
  • Quiet, residential location
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Vista Villa Apartments Plus Potential Development Land

Summary

*Price modification: the 23 unit property plus land for potential development has a price adjustment, the new price is $3,190,000.  The price includes the land which has the potential to be subdivided into four separate, additional residential parcels. 

23 units well located in a quiet, residential neighborhood with pristine hilltop views of the city. Zoned R1-6, the property features a large 2.47 acre lot which potentially can be divided to create four additional residential lots. The price includes all 2.47 acres and is currently one tax lot. The Vista Villa has three one-bedroom units, and twenty two-bedroom units. Four of the two-bedroom units are extremely large (approximately 1,200 square feet), and the sixteen other two-bedroom units are approximately 875 square feet, perfect for tenants who desire larger than average apartments. The property has a tremendous amount of off-street parking, and the units have washer and dryer hookups. Owned for many years by the seller, this unique offering has the potential for additional value due to the large lot.

Highlights

  • 2.47 acres (potential to split off four residential lots)
  • Washer/dryer hookups
  • Large units
  • Nice wood cabinetry
  • Multiple closets in units
  • BBQ area
  • Hilltop views of Portland
  • Off-street parking
  • Quiet, residential location

Vista Villa Apartments Plus Potential Development Land

NE 51st St/NE 45th Ave

Vista Villa Apartments Plus Potential Development Land

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Vista Villa Apartments Plus Potential Development Land

Document Title Document Type
Property Flyer Adobe PDF

Vista Villa Apartments Plus Potential Development Land

Bernard Gehret
bgehret@josephbernard.net
Joseph Bernard, LLC
5200 SW Macadam Avenue
Suite 300
Portland, Oregon 97239
503.546.9390 Main
866.546.9390 Toll Free
503.546.9395 Fax