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201 Tull Ct - Tull Court Townhomes 32 Unit Apartment Building Offered at $10,995,000 at a 5.53% Cap Rate Bellingham, WA 98226
Executive Summary
Recently built and beautifully designed Tull Court Townhomes in Northern Bellingham! Townhomes are located just off Meridian Street in a private cul-de-sac, which gives this property a rural feel within city limits. The property is in close proximity to major shopping centers, Whatcom Community College, and just over one mile from I-5 access. The 32-units are a mix of primarily 2-bed/1.5-bath and some 3-bed/2.5-bath. Units feature fully equipped kitchens, in-unit washer/dryer, and high-end finishes.
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $10,995,000 | Apartment Style | Townhome |
| Price Per Unit | $343,594 | Lot Size | 2.47 AC |
| Sale Type | Investment | Building Size | 31,360 SF |
| Cap Rate | 5.53% | Average Occupancy | 94% |
| Gross Rent Multiplier | 14.01 | No. Stories | 2 |
| No. Units | 32 | Year Built | 2021 |
| Property Type | Multifamily | Parking Ratio | 1.56/1,000 SF |
| Zoning | RM - Residential Multiple -Subareas 29 & 30 per the Meridian neighborhood zoning map | ||
| Price | $10,995,000 |
| Price Per Unit | $343,594 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| Gross Rent Multiplier | 14.01 |
| No. Units | 32 |
| Property Type | Multifamily |
| Apartment Style | Townhome |
| Lot Size | 2.47 AC |
| Building Size | 31,360 SF |
| Average Occupancy | 94% |
| No. Stories | 2 |
| Year Built | 2021 |
| Parking Ratio | 1.56/1,000 SF |
| Zoning | RM - Residential Multiple -Subareas 29 & 30 per the Meridian neighborhood zoning map |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1.5 | 26 | $1,950 | 844 |
| 3+2.5 | 8 | $2,450 | 1,360 |
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
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201 Tull Ct - Tull Court Townhomes
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