- ADDRESS:
- 3506 MAIN ST Vancouver, WA 98663
- Price:
- $989,000
- Units:
- 9
- Acres:
- 0.28
- Unit 1:
- 1 Bed 1.0 Bath
- Unit 2:
- 1 Bed 1.0 Bath
- Unit 3:
- 1 Bed 1.0 Bath
- Unit 4:
- 1 Bed 1.0 Bath
- Unit 5:
- 1 Bed 1.0 Bath
- Unit 6:
- 2 Bed 2.0 Bath
- Unit 7:
- 2 Bed 2.0 Bath
- Unit 8:
- 2 Bed 2.0 Bath
- Unit 9:
- 2 Bed 2.0 Bath
- MLS#:
- 243213175
- Lot Size:
- 10,000 to 14,999 SqFt
- Type:
- Multi
- Zone:
- R-22
- Yr Built:
- 1939
- Taxe/yr:
- $3,482.42
- County:
- Clark
- Status:
- Active
- Heat:
- Forced Air
- Elem:
- Lincoln
- Middle:
- Discovery
- High:
- Hudsons Bay
- Lot Desc:
- Corner Lot
- Area:
- Vancouver: Downtown
- Courtesy of:
- Keller Williams Realty
- Remarks:
- 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.