496 S State St, Bellingham, WA 98225

$2,499,990
4,140
SqFt

Listing courtesy of Muljat Group.

List Price
$2,499,990
Status
ACTIVE
MLS#
1691094
Days on Market
105
Style
55 - 5-9 Units
Building Condition
['Good']
Finished SqFt
4,140
Lot Size (sq ft)
12,197

Property Description

Incredible Opportunity! Bayview, highend luxury 6 unit condo site on the Southside overlooking Boulevard Park, Bellingham Bay and the islands, but that's not all! It also has a well cared for 5 unit apartment building that is always rented to help with the carrying costs until you are ready to build. This opportunity won't come up again as there isn't anything like it left in this location. Don't wait!

Additional Information

List Date
2020-11-12 00:00:00
Community
South Hill
Property Type
MULT
Stories
2
Potential Terms
Cash Out, See Remarks
Year Built
1965
Total Parking
10
Uncovered Parking
10
View
Bay, City, Mountain, Ocean, Sound
Exterior
Wood
Roof
Flat
Site Features
Cable TV, Deck, Gas Available, High Speed Internet, Patio
Lot Details
Curbs, Paved Street, Sidewalk, Adjacent to Public Land
School District
Bellingham
Elementary School
Lowell Elem
Middle School
Fairhaven Mid
High School
Sehome High
Total Monthly Income
$7,100
Gross Scheduled Income
$85,200
Gross Adjusted Income
$85,200
Annual Taxes
$10,561
Tax Year
2020
Insurance Expense
$3,785
W/S/G Expenses
$3,451
Total Expenses
$20,621
Net Operating Income
$64,579
Gross Rent Multiplier
29
Cap Rate
2

Room Dimensions

Unit 1 Beds
2
Unit 1 Baths
1.00
Unit 1 Size
800
Unit 1 Rent
$1,500
Unit 2 Beds
2
Unit 2 Baths
1.00
Unit 2 Size
800
Unit 2 Rent
$1,250
Unit 3 Beds
3
Unit 3 Baths
2.00
Unit 3 Size
1000
Unit 3 Rent
$1,400
Unit 4 Beds
2
Unit 4 Baths
1.00
Unit 4 Size
800
Unit 4 Rent
$1,400
Unit 5 Beds
2
Unit 5 Baths
1.00
Unit 5 Size
800
Unit 5 Rent
$1,550
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