1135 Ellis Street, Bellingham, WA 98225

$396,500

Listing courtesy of Premier Properties NW. Selling Office: Windermere RE Skagit Valley.

Sold Price
$396,500
List Price
$409,000
Status
SOLD
MLS#
1136961
Closing Date
Aug 11, 2017
Days on Market
41
Annual Tax Ammount
3848

Property Description

High Visibility location - Ellis & Liberty. Great office space with long term tenants. Modified Gross Lease/Rent. Tenants currently have 3 year leases but may be willing to consider vacating for owner occupant. The building is 4 individual units, each could be rented separately or together. See Floor Plans in Photos. Sep HVAC units each floor. Newer commercial metal roof. Asphalt parking lot. Bldg has been 100% occupied for last 12 years. W/ 6% cap, property values at over $418K.

Additional Information

Community
Sehome
Building Condition
Average
Style
73 - Office
Year Built
1973
# of Assigned Spaces
14
Roof
Metal
Tax Year
2017
Potential Terms
Cash Out, Conventional
Interior Features
Forced Air, Wall to Wall Carpet
Flooring
Vinyl, Carpet
Driving Directions
I-5 to Lakeway, west to 5 way light at Ellis, left (up hill) to site on the corner of Ellis and Liberty Streets
Electric Expenses
711
Other Expenses
1633
Net Operating Income
$23,838
Gross Scheduled Income
$32,400
Water/Sewer/Garbage Expenses
$1,876
Cap Rate
6
Total Expenses
$9,121
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