Van Mall North

JLL Capital Markets is pleased to present Van Mall North Apartments (the “Property”), a 52-unit garden style community with a strong concentration of townhomes style floorplans in Vancouver, Washington, one of the Portland MSA’s most highly sought-after submarkets. Situated proximate to the Vancouver Mall, the Property is positioned within a dense retail hub boasting 5.6 million square feet of retail space within a two-mile radius. This prime location is further demonstrated by being positioned less than 0.3 miles from both SR-500 and Interstate 205, providing immediate access to major employers and retail destinations throughout the Portland MSA. Van Mall North provides residents with tranquil suburban living with convenient access to Vancouver’s rapidly expanding employers.

Van Mall North presents a prime value-add opportunity, offering spacious units with 98% of units with attached garages, catering to a diverse and affluent renter pool that prefers renting over more costly home ownership. Current ownership has upgraded 52% of the property by adding vinyl flooring throughout, installing stainless steel appliances, and placing white laminate or granite countertops. This presents an ideal opportunity to continue renovating the remaining classic units while also enhancing the finish quality of existing renovations to compete with neighboring new construction rental communities, which command average rents of $156 above Van Mall North's classic units.