VANCOUVER, WA - Corporate Woods, a 47-unit multifamily community located in Vancouver, Washington, has sold for $8,610,000, or $183,191 per unit, reflecting continued investor confidence in well-located Southwest Washington apartment assets.
Built in 2003, Corporate Woods represents a newer-vintage suburban apartment community offering residents convenient access to major employment centers, retail amenities, and regional transportation corridors. The property averaged 95% occupancy at the time of sale and features an average unit size of approximately 955 square feet, positioning it favorably within the Vancouver multifamily market. The transaction equates to approximately $192 per rentable square foot.
The sale highlights sustained buyer demand for post-2000 construction vintage assets, as investors increasingly prioritize properties with newer building systems and mechanicals. With operating expenses, insurance costs, and capital replacement risks rising across older housing stock, newer-vintage communities are viewed as offering greater predictability of cash flow and reduced near-term capital exposure.
“This transaction reflects the sustained demand for well-maintained, mid-sized apartment communities in Clark County,” said Rob Marton, broker on the transaction. “In today’s environment, buyers are placing a premium on assets with newer systems and lower expected capital volatility. Even without amenity packages, well-located properties with strong occupancy, solid construction vintage, and a clear path to value creation continue to attract deep investor interest.”
The acquisition closed at an approximate 6.25% capitalization rate. The buyer intends to execute a measured value-add strategy, focused on realistic unit-level improvements implemented upon natural resident turnover, while operating the property as a long-term hold. The buyer’s financing was provided by Chase.
The transaction was facilitated by HFO Investment Real Estate, which represented the parties in the sale.
About HFO Investment Real Estate: HFO Investment Real Estate is a leading multifamily brokerage firm specializing exclusively in apartment properties throughout the Pacific Northwest. The firm advises private investors, institutions, and family offices on the acquisition and disposition of multifamily assets. Learn more at www.hfore.com