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Pomeroy Court & 500 Square 2 Multifamily Properties in Bellingham, WA
INVESTMENT HIGHLIGHTS
- 7-minute walk to Western Washington University and Bellingham employers
- Superb area demographics
- Large floor plans averaging almost 1,000 square feet at both properties
- Lack of new supply and in-migration bolster submarket fundamentals
- Outstanding access to amenities, retail hubs, and lifestyle destinations
- Outstanding historical occupancy of ~99% and strong historical operating performance
EXECUTIVE SUMMARY
JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire Pomeroy Court and 500 Square, two premier apartment communities located in Bellingham, WA, within walking distance to Western Washington University.
Built in 1986/1999 and 2022, Pomeroy Court and 500 Square (each, a “Property” and together the “Properties”) are 60-unit and 68-unit garden-style and mid-rise apartment communities, respectively, located in the Happy Valley neighborhood of Bellingham. A light valueadd opportunity is available at Pomeroy Court through selective improvements to appliances, fixtures, blinds, and cabinet fronts. Situated near Interstate-5 and Western Washington University, the Properties provide residents with unparalleled access to Bellingham’s key employment centers as well as the nearby submarkets of Mount Vernon, Everett and the broader Puget Sound region. Bellingham’s economy is anchored by Western Washington University and bolstered by other prominent employers including St. Joseph’s Hospital, British Petroleum, and the headquarters of Haggen Food & Pharmacy. Located near the Pacific Northwest’s premier lifestyle destinations, Pomeroy Court & 500 Square offers residents exceptional proximity to the region’s most desirable recreational amenities. The portfolio diversifies risk by targeting distinct market segments, with 500 Square serving affluent families while Pomeroy Court caters to middle-income households.
The pair of Properties is being offered as a combined portfolio. Be advised that ownership has requested no Property Tours be conducted until the contract due diligence period. Please contact broker for additional information.
Built in 1986/1999 and 2022, Pomeroy Court and 500 Square (each, a “Property” and together the “Properties”) are 60-unit and 68-unit garden-style and mid-rise apartment communities, respectively, located in the Happy Valley neighborhood of Bellingham. A light valueadd opportunity is available at Pomeroy Court through selective improvements to appliances, fixtures, blinds, and cabinet fronts. Situated near Interstate-5 and Western Washington University, the Properties provide residents with unparalleled access to Bellingham’s key employment centers as well as the nearby submarkets of Mount Vernon, Everett and the broader Puget Sound region. Bellingham’s economy is anchored by Western Washington University and bolstered by other prominent employers including St. Joseph’s Hospital, British Petroleum, and the headquarters of Haggen Food & Pharmacy. Located near the Pacific Northwest’s premier lifestyle destinations, Pomeroy Court & 500 Square offers residents exceptional proximity to the region’s most desirable recreational amenities. The portfolio diversifies risk by targeting distinct market segments, with 500 Square serving affluent families while Pomeroy Court caters to middle-income households.
The pair of Properties is being offered as a combined portfolio. Be advised that ownership has requested no Property Tours be conducted until the contract due diligence period. Please contact broker for additional information.
PROPERTY FACTS
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 148,800 SF |
| Number of Properties | 2 | Total Land Area | 3.86 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 148,800 SF |
| Total Land Area | 3.86 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
|
Pomeroy Court Apartments
3100 Ferry Ave, Bellingham, WA 98225 |
Multifamily | 96,000 SF | 1986 | - |
|
500 Square
500-512 32nd St, Bellingham, WA 98225 |
Multifamily | 52,800 SF | 2022 | - |
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Pomeroy Court & 500 Square
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