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Sehome Court Apartments and Townhomes 820 32nd St 57 Unit Apartment Building $14,995,000 ($263,070/Unit) Bellingham, WA 98225
EXECUTIVE SUMMARY
This well-maintained 57-unit apartment/townhouse complex (5 buildings) is in a high demand area, 1 mile from Western Washington University. Strong reliable rental history. Roofs replaced and exterior painted last 3 years; windows replaced with double pane. Units remodeled (countertops, cabinet faces, flooring fixtures, upgraded appliances). Full size washer/dryer in each unit. Rare opportunity: land is zoned for 27 additional units. 2 minutes from I/5, Historic Fairhaven, excellent shopping, and next to Joe’s Garden. All units have 2 bedrooms (53 – 850 sq ft units; 4 – 1,059 sq ft units; 4 – ADA features). Baths: 32 apts with 1 – ¾ bath; 21 townhouses with 1 – ½ bath; 4 apts with 1 large bath. Bellingham has high growth but limited new supply. Excellent income producing property. Property Video link https://youtu.be/oNbsnBclxFc
DATA ROOM Click Here to Access
- Title and Insurance
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| 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 (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 Under Contract
| Price | $14,995,000 | Apartment Style | Garden |
| Price Per Unit | $263,070 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.93 AC |
| No. Units | 57 | Building Size | 51,360 SF |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1988 |
| Zoning | RM1.0 - Multi-Family one unit per 1,000 sq feet of land | ||
| Price | $14,995,000 |
| Price Per Unit | $263,070 |
| Sale Type | Investment |
| No. Units | 57 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.93 AC |
| Building Size | 51,360 SF |
| No. Stories | 3 |
| Year Built | 1988 |
| Zoning | RM1.0 - Multi-Family one unit per 1,000 sq feet of land |
AMENITIES
UNIT AMENITIES
- Cable Ready
- Dishwasher
- High Speed Internet Access
- Refrigerator
- Carpet
- Smoke Free
- Vinyl Flooring
SITE AMENITIES
- Picnic Area
- Security System
- Recycling
- Smoke Free
- Storage Space
- Walk To Campus
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 4 | $1,875 | 850 |
| 2+1.5 | 21 | $1,895 | 850 |
| 2+2 | 32 | $1,937 | 850 - 1,056 |
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PROPERTY TAXES
| Parcel Number | 370306-236351-0000 | Improvements Assessment | $5,989,227 |
| Land Assessment | $1,769,850 | Total Assessment | $7,759,077 |
PROPERTY TAXES
Parcel Number
370306-236351-0000
Land Assessment
$1,769,850
Improvements Assessment
$5,989,227
Total Assessment
$7,759,077
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VIDEOS
MATTERPORT 3D EXTERIOR
MATTERPORT 3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
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Sehome Court Apartments and Townhomes | 820 32nd St
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