Bought with Best Choice Realty
$740,000
$799,900
7.5%For more information regarding the value of a property, please contact us for a free consultation.
2,436 SqFt
SOLD DATE : 12/12/2023
Key Details
Sold Price $740,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 2,436 sqft
Price per Sqft $303
Subdivision Bellingham
MLS Listing ID 2162535
Sold Date 12/12/23
Style 52 - Duplex
Year Built 1999
Annual Tax Amount $5,355
Lot Size 7,400 Sqft
Property Description
Great property with expansive backyard, vaulted ceilings, 3bed/2bath, two story, and below market rents. Current rent is $1,350 and $1,400. Market rent is $2,100+, with nearby recent rents at $2,300+. Cap Rate of 5.15% based on $2,100 market rent. The property was built in 1999, and has been well maintained. Owners can choose to rent one side out and live in the second unit, or increase both unit's rent. Both tenants are on month-to-month leases, giving the landlord flexibility on when to raise the rents.
Location
State WA
County Whatcom
Area 860 - Bellingham
Interior
Interior Features Wall to Wall Carpet
Flooring Carpet
Fireplace No
Exterior
Exterior Feature Metal/Vinyl
Waterfront No
View Y/N No
Roof Type Composition
Building
Sewer Available
Water Community
New Construction No
Schools
School District Bellingham
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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