2203 B Street, Bellingham, WA 98225

$648,000
3,902
SqFt

Listing courtesy of Keller Williams Western Realty. Selling Office: Redfin Corp..

Sold Price
$648,000
List Price
$648,000
Status
SOLD
MLS#
1713770
Closing Date
Mar 01, 2021
Days on Market
19
Style
54 - 4-Plex
Finished SqFt
3,902
Area Total SqFt
3902
Annual Tax Ammount
5772
Lot Size (sq ft)
10,019
Sewer
Sewer Connected
Offer Review Date
2021-01-18

Property Description

Great 4-plex rental property located in the Lettered Streets, just blocks from downtown. This is a legal 4-plex, separately metered. Situated on a large corner site, approximately 10,000 sqft. Plenty of room for on-site parking and renovation of existing property. Tenants pay own SSC trash pickup, so actual monthly rents are $925 per unit. Rents are low for unit size. Some tenants have used as 2 bedrooms. Units are spacious with 9 foot ceilings, built- ins, bay windows and loads of character. Covered porches and balconies in front and rear of building.

Additional Information

List Date
2021-02-10 00:00:00
Community
Lettered Streets
Net Operating Income
$34,045
Gross Adjusted Income
$42,960
Gross Scheduled Income
$42,960
Total Monthly Income
$3,580
Insurance Expenses
$1,385
Water/Sewer/Garbage Expenses
$1,758
Gross Rent Multiplier
16
Total Expenses
$8,915
Cap Rate
5
Total Number of Units
4
Unit Name
2203
Potential Terms
Cash Out, Conventional
Year Built
1925
Roof
Composition, Flat, Torch Down
Site Features
Cable TV, Deck, Gas Available
School District
Bellingham
Elementary School
Parkview Elem
Middle School
Whatcom Mid
High School
Bellingham High
Total Monthly Income
$3,580
Gross Scheduled Income
$42,960
Gross Adjusted Income
$42,960
Tax Year
2020
Insurance Expense
$1,385
W/S/G Expenses
$1,758
Total Expenses
$8,915
Net Operating Income
$34,045
Gross Rent Multiplier
16
Cap Rate
5
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