Clara Flats

08-16-2021
08-17-2021

608 NE Birch St, Camas, WA 98607

TURN-KEY new construction opportunity HIGH BARRIER to entry submarket with very little new multifamily ONLY THREE 5+ unit apartment buildings in the entire downtown Camas core (57 total units) RENTS increasing rapidly upon turnover PROPERTY TAX EXEMPTION for 12 years on all real property improvements CENTRALLY-LOCATED one block from the heart of historic downtown Camas LOCATED in one of the fasts growing cities in SW Washington with top rent growth LESS THAN a 15 minutes to the Vancouver CBD, waterfront, restaurants, and retailers; 30 minutes to Downtown Portland CAMAS is becoming the technology and financial hub of activity in all of SW Washington

Property Description

See Offering Memorandum for more information. Completed in early 2020 and leased up immediately, Clara consists of 30 contemporary, high end boutique apartment homes and two retail spaces, located in the heart of downtown Camas, Washington, an affluent suburb of Vancouver, Washington. Perched on a hill overlooking the sprawling mountains and woodlands of the Pacific Northwest, Clara provides unbeatable access to one of the best cities in SW Washington, which is rapidly becoming the technology and financial hub of activity in all of SW Washington.

Key Property Information

Listing Status
Available
Multi-family type
Mixed-Use
Price
$ 14,885,000
No. of Units
30
Cap Rate
4.25%
Year Built
2020
Building Size
28,976 Sq ft
No. of Stories
3
No. of Parking Spots
19
Opportunity Zone
Off
Price per unit
$ 496,167
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45.5867, -122.406353