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Listed by Keller Williams Realty • 360-931-1178
$989,000
Est. payment /mo
3,514 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Office
Listing Status Active
Purchase Type For Sale
Square Footage 3,514 sqft
Price per Sqft $281
MLS Listing ID 449847689
Year Built 1939
Annual Tax Amount $3,482
Tax Year 2025
Lot Size 0.280 Acres
Property Sub-Type Office
Property Description
Located in the heart of downtown Vancouver, Washington, this property offers a rare combination of stable in-place income and significant redevelopment upside. Currently operating as a fully leased 3,514 SF office building, the site is already permitted (2023/2024) for a 9-unit apartment project with 3,548 SF of ground-floor commercial space. The heavy lifting of entitlement has been done. Recent building code updates have removed unit count limitations on the site, opening the door for a buyer to expand well beyond the original scope. Using the existing approved plans as a foundation, a new owner could feasibly add 13 or more units, dramatically increasing density and long-term value without starting the entitlement process from scratch.This is a unique window for developers and investors: acquire a cash-flowing asset in a walkable, high-demand downtown core, hold or lease through the interim period, and capitalize on a codified upside that didn't exist when the original plans were drawn. Few opportunities offer this level of built-in optionality — permitted, de-risked, and primed for a density play most sites can't touch. Whether you're looking to execute the current 9-unit + commercial plan or maximize returns with an expanded unit count, this downtown Vancouver property is ready for its next chapter.
Location
State WA
County Clark
Area _11
Zoning R-22
Interior
Heating Forced Air
Cooling Central Air
Exterior
Roof Type Composition
Garage No
Building
Story 1
Sewer Public Sewer
Water Public Water
Level or Stories 1
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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