Cottonwood Court presents a compelling opportunity to acquire a20-unit value-add multifamily community in the growing Vancouvermarket, positioned to benefit from continued regional demand andstrong 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 valuecreation. Ownership has begun renovating units as they turn, withthree units already upgraded to include modern finishes such asshaker-style cabinetry, updated countertops, and stainless steelappliances. These improvements provide a proven blueprint forcontinued renovations, allowing a new owner to systematicallyenhance the remaining units and capture meaningful rental upside.
Bagley Downs, located between Fourth Plain Boulevard and NE 18th Street, is a residential and commercial Vancouver neighborhood with mid-century ranch homes and a grid of walkable side streets. The neighborhood’s character concentrates around the Fourth Plain Blvd corridor near NE 65th Ave, where taquerias, panaderías, small grocers, and service storefronts keep the sidewalks active. Single-story houses and modest infill sit behind mature street trees, with larger arterials framing the edges. Bagley Community Park adds open lawns and play areas that shape daily routines. Nearby, Clark College and the Clark County Historical Museum anchor local culture and learning. The feel is practical and grounded, with errands and recreation centered on the main corridors.
Provided by Walk Score and Local Logic
Property details
Interior
Exterior
Finance
Interior features
Fireplace
Attached storage
Bedrooms
2 bedrooms per unit
Bathrooms
1 bathroom per unit
Laundry & utility
Washer/dryer hookup
Flooring
Hardwood floors
Heating & cooling
Mini-split heating
Exterior features
Park/greenbelt view
Home design
Multifamily property
20 units
Updated/remodeled
Parking
Assigned garage parking
40 parking spaces
Security
Security lights
Construction
Built in 1965
Brick and wood siding
Built-up, composition, and flat roof
Utilities
Electricity
Public water
Shared and standard septic
Financial info
Actual rent of $1,630 per unit
6.49% cap rate
9.42 gross rent multiplier
Rent includes sewer, trash collection, and water
Electricity and solar
View estimated energy costs and solar savings for this home
The R-18 zoning district is designed to accommodate attached homes such as duplexes and rowhouses, and garden-type apartments at a minimum lot size of 1,800 sq ft per unit. Professional office uses are permitted under certain circumstances. Some retail, civic and institutional uses are allowed conditionally. This zone consolidates the R-18 and OR-18 zones as of March 11, 2004.
Zone overlays
Fourth Plain Corridor Overlay Dist : VAN
Transit Overlay District
Permitted uses
Include but are not limited to:
Agriculture
Housing-Group
Housing-Single unit
Housing-Multiple units
Infrastructure
Park & open space
Climate risks
1/10 Flood Factor
Minimal risk of a flood reaching the building in the next 30 years
1/10 Fire Factor
Unlikely to be in a wildfire in next 30 years
3/10 Heat Factor
7 days above 91° expected this year, 15 days in 30 years
1/10 Wind Factor
Minimal risk of severe winds over next 30 years
10/10 Air Factor
20 unhealthy days expected this year, 21 days in 30 years
Provided by First Street
Historical weather
Vancouver, WA • 98661
Average low and high temperatures (°F)
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41
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43
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81
57
82
60
75
55
62
46
52
43
49
41
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
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Dec
Sun exposure
93/ 100
Exceptional sunlight
Sunscore
This home ranks in the top 22% for direct sun exposure in Vancouver. There appears to be minimal shading by surrounding buildings, terrain, and vegetation.
10.8 hrs
6.2 hrs
JuneDecember
Provided by Shadowmap
Redfin Estimate for 2700 Falk Rd
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