4202 NE Morrow Rd, Vancouver, WA 98682
Local realty services provided by:CENTURY 21 North Homes Realty
4202 NE Morrow Rd,Vancouver, WA 98682
$5,600,000
- - Beds
- - Baths
- 15,465 sq. ft.
- Multi-family
- Active
Listed by: darryl bodle, michael brazie
Office: keller williams realty portland premiere503-597-2444
MLS#:398221983
Source:PORTLAND
Price summary
- Price:$5,600,000
- Price per sq. ft.:$362.11
About this home
Sparrow Landing offers investors a compelling opportunity to acquire a recently completed, move-in ready 17 unit multifamily offering with modern construction, attractive unit variety, and a selection of units already leased for in place income from day one. The offering includes a mix of one, two, and three bedroom residences ranging from 690 to 1,155 sqft. Unit features include efficient layouts, quality finishes, private patio areas, shared greenspace, a community fitness and weight room, dedicated storage space, and 30 dedicated off street parking spaces. Kitchens feature peninsula eat bars with solid surface countertops and stainless steel appliances. The included appliance package adds refrigerator, washer/dryer, and window coverings for each unit. Each bedroom is outfitted with a ceiling fan, and energy efficient mini splits provide year round heating and cooling. With ten units currently leased and seven vacant units available for continued lease up, the property offers both immediate income and clear upside toward stabilization. Projected stabilized performance reflects a 5.3% cap rate. The recent construction may help reduce near term capital demands while supporting long term operational efficiency and tenant appeal. The Kevanna Park location adds another layer of retention strength, placing residents close to Vancouver Mall for shopping, dining, and entertainment; Orchards Market Center for groceries and daily errands; local cafes and restaurants for everyday convenience; nearby parks and recreation; and key commuter routes including SR 500 and I-205 for access across Vancouver, the Portland metro, PDX Airport, and the Columbia River waterfront. With modern vintage, resident focused amenities, in place income, and remaining lease up upside, Sparrow Landing is well positioned as a compelling ownership opportunity in the growing Vancouver rental market....
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Home facts
- Year built:2025
- Listing ID #:398221983
- Added:1 day(s) ago
- Updated:June 04, 2026 at 12:21 PM
Rooms and interior
- Living area:15,465 sq. ft.
Heating and cooling
- Cooling:Heat Pump
- Heating:Mini Split
Structure and exterior
- Roof:Composition
- Year built:2025
- Building area:15,465 sq. ft.
- Lot area:0.92 Acres
- Lot Features:Level, Public Road
- Foundation Description:Slab
- Levels:2 Stories
Schools
- High school:Heritage
- Middle school:Covington
- Elementary school:Orchards
Utilities
- Water:Public Water
- Sewer:Public Sewer
Finances and disclosures
- Price:$5,600,000
- Price per sq. ft.:$362.11
- Tax amount:$32,584 (2025)
Parking
- Total parking spaces:30
- Parking description:Off Street
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