4202 NE Morrow Rd - Apartments FOR SALE


Vancouver, WA 98682- Kevanna Park
$5,600,000 USD
503-709-4632
4202 NE Morrow Rd, Vancouver, WA for Sale
$5,600,000 USD
Apartments - FOR SALE
1/26
null | 5.3% Cap Rate

4202 NE Morrow Rd
Vancouver, WA 98682
Kevanna Park


HIGHLIGHTS

  • Spacious unit layouts ranging from 690 to 1,155 SF
  • Recently completed 17 unit Vancouver multifamily offering
  • Ten units currently leased with remaining lease up upside
  • Modern interiors with solid surface counters and stainless steel appliances
  • Energy efficient mini splits provide year round heating and cooling
  • Accessible Kevanna Park location near Vancouver Mall, Orchards Market Center, SR 500, and I-205

OVERVIEW

Constructed in 2025 by a respected local builder, Sparrow Landing presents a rare opportunity to acquire a recently completed 17-unit multifamily asset comprised of a diverse mix of 1, 2, and 3 bedroom residences. The property was thoughtfully designed to maximize resident appeal, featuring spacious floor plans, lofty ceilings, abundant natural light, quality finishes, full appliance packages, window coverings, dedicated off-street parking, and privately fenced patio areas. Newly constructed, Sparrow Landing benefits from modern construction, durable building materials, and thoughtfully selected finishes designed to support long-term ownership. The property's quality construction helps reduce maintenance demands, limit future capital expenditure requirements, and promote operational efficiency, while its desirable unit mix and resident-focused amenities position it well for long-term occupancy and tenant retention. Additional community amenities include expansive shared greenspace and a highly accessible location near Vancouver Mall, major retailers, dining, recreation, and key commuter corridors. Combining quality construction, strong resident appeal, and the advantages of modern vintage, Sparrow Landing represents a compelling opportunity to acquire a low-maintenance asset with long-term ownership appeal in the growing Vancouver market.

FOR SALE DETAILS

PRICE

$5,600,000 USD

PRICE/SF

$778 USD /SF

# OF UNITS

17

PRICE/UNIT

$329,412

CAP RATE

5.3%

% LEASED

59%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sparrow Landing

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2025

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.92 AC

LAND SF

40,075 SF

ZONING

R-18

APN/PARCEL ID

159537-000

ASK ABOUT THIS PROPERTY

Darryl Bodle IIKeller Williams CommercialMore Info
503-709-4632

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Darryl Bodle IIKeller Williams CommercialMore Info
503-709-4632

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