For more information on this listing, please contact...
Sun Lakes Realty
509-476-2121
Email
  • Listing #:
    • 2140595
  • Price:
    • $21,000,000
  • Status:
    • Active
  • Property Type:
    • Multi-Family
  • Type:
    • 10+ Units
  • # of Units:
    • 37
  • # of Acres:
    • 0.63
  • Year Built:
    • 2021
  • Comm/Assn:
    • Sehome
  • City:
    • Bellingham
  • County:
    • Whatcom
  • State:
    • WA
  • Zip:
    • 98225
  • Right of 1st Refusal:
    • No
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Description
Location!!! This Property Is Inside The Samish Way Urban Village Plan. Built In 2021 Samish Flats Luxury Apartment Homes Offer All The Modern Amenities Including W/d In Units. Low Vacancies Can Be Attributed To The Convenient Location, Near I-5 And Western Washington University. The 20 Lower-level Garage Spaces Offer Additional Income. In Addition To The Tenants Paying All Utilities, The Property Enjoys An 8-year Tax Abatement On The Improvements. Owner Will Consider Partial Financing, Rate Negotiable, Price To Adjust Accordingly.
Property Features
  • Cap Rate:
    • - 3.9
  • Covered Spaces:
    • - 20
  • Electric Expense:
    • - 3840
  • Exterior Features:
    • - Cement Planked
  • Foundation Details:
    • - Poured Concrete
  • Gross Scheduled Income:
    • - $984,732.00
  • Heating Y/N:
    • - Yes
  • Insurance Expense:
    • - $18,000.00
  • Leasable Area:
    • - 37,207.00 Square Feet
  • Lot Features:
    • - Curbs
    • - Dead End Street
    • - Paved
    • - Sidewalk
  • Net Operating Income:
    • - $819,571.00
  • Amenities:
    • - Elevator
  • Gross Adjusted Income:
    • - 975065
  • Gross Rent Multiplier:
    • - 22.03
  • Leased Items:
    • - None
  • Parking Uncovered Spaces:
    • - 36
  • Site Features:
    • - Cable TV
    • - Fenced-Partially
    • - High Speed Internet
  • Style Code:
    • - 56 - 10+ Units
  • Total Expenses:
    • - 155493
  • Total Monthly Income:
    • - 82061
  • Units Below Grade:
    • - false
  • Vacancy Rate:
    • - 1
  • Water Sewer Garbage:
    • - 21250
  • Zoning Class:
    • - Multi-Family
  • Zoning Jurisdiction:
    • - City
  • Open Parking Spaces:
    • - 36
  • Open Parking Y/N:
    • - Yes
  • Other Expense:
    • - 101049
  • Parcel Number:
    • - 3803314661450000
  • Possible Use:
    • - Multi-Family
  • Property Condition:
    • - Very Good
  • :
    • - Mountain(s)
    • - Territorial
  • Security Features:
    • - FullyFenced
  • Stories Total:
    • - 6
  • Structure Type:
    • - Multi Family
  • Annual Tax Amount:
    • - $11,354.00
  • Tax Year:
    • - 2023
  • View Y/N:
    • - Yes
  • Water Source:
    • - Public
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For more information on this listing, please contact...
Sun Lakes Realty
509-476-2121
Email

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