3902 Gibbons St - Apartments FOR SALE


Vancouver, WA 98661- Bagley Downs
$3,804,000 USD
503-313-8149
3902 Gibbons St, Vancouver, WA for Sale
$3,804,000 USD
Apartments - FOR SALE
1/16
null | 6.5% Cap Rate

3902 Gibbons St
Vancouver, WA 98661
Bagley Downs


HIGHLIGHTS

  • Garages
  • Outdoor Space
  • Value Add Opportunities
  • Stable Income

OVERVIEW

Cottonwood Court presents a compelling opportunity to acquire a 20-unit value-add multifamily community in the growing Vancouver market, positioned to benefit from continued regional demand and strong connectivity to Portland. Constructed in 1965, the property consists entirely of well-designed 2-bedroom, 1-bath units, each featuring a consistent and efficient floor plan. Units average ± 727 SF and are complemented by ± 325 SF attached garages, a rare amenity that, combined with in-unit washer and dryer, enhances tenant appeal and supports long-term retention. Vaulted, sloped ceilings and charming fireplaces add architectural character and create a warm, inviting living environment that differentiates the property from typical vintage product. Cottonwood Court offers a clear and executable path to value creation. Ownership has begun renovating units as they turn, with three units already upgraded to include modern finishes such as shaker-style cabinetry, updated countertops, and stainless steel appliances. These improvements provide a proven blueprint for continued renovations, allowing a new owner to systematically enhance the remaining units and capture meaningful rental upside. The property is further distinguished by its expansive green space, creating a campus-style setting that resonates with tenants seeking a balance of privacy and community. This physical layout, combined with straightforward unit uniformity, allows for operational efficiency and ease of management. Strategically located between I-5 and I-205, the asset provides seamless access throughout the Portland Metro. Residents benefit from proximity to Downtown Vancouver, an increasingly vibrant urban core anchored by waterfront redevelopment, dining, retail, and lifestyle amenities that continue to attract both residents and investment. Cottonwood Court stands out as a stable, income-producing asset with immediate upside, offering investors the opportunity to implement a disciplined renovation strategy in a supply-constrained submarket with strong long-term fundamentals.

FOR SALE DETAILS

PRICE

$3,804,000 USD

PRICE/SF

$181 USD /SF

# OF UNITS

20

PRICE/UNIT

$190,200

CAP RATE

6.5%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cottonwood Court

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1965

PARKING SPACES

20

LAND DETAILS

LAND ACRES

2.53 AC

LAND SF

110,207 SF

ZONING

R-18 (2026)

APN/PARCEL ID

030240-030,030240-190,030240-211

ASK ABOUT THIS PROPERTY

Jordan FezlerApex Real Estate PartnersMore Info
503-313-8149

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Jordan FezlerApex Real Estate PartnersMore Info
503-313-8149

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.