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About the Listing 4KWP01 - WUNDERJE,WUNDERLI
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.
Listing Highlights
Status
Active
Days on Site
0
Property Type
Multi-Family
MLS ®
243213175
Year Built
1939
Total Square Footage
0
Lot/Acreage
0.28
Interior Details
- Bedrooms: 13
- Bathrooms: 13 Full
- Appliances:
- Air Cond: Central Air
- Heating: Forced Air
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Finished
- Other:
- Water: Public Water
Exterior Details
- Lot Description: Corner Lot
- Garage Capacity: N/A
- Parking Spaces: 15
- Zoning: R-22
- Roof: Composition
- Others: Proposed
- Sewer: Public Sewer
- Parking Features: On Street,Paved
Financial Details
- Tax Amount: $3,482
- Taxes w/Assessments: N/A
- Tax/Property ID: 010780000
- Tax Year: N/A
Payment Calculator
Monthly Payment
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- in Taxes
Years
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Questions About..
3506 Main St Vancouver, WA 98663
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