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Listed by:Muljat Group • Ian Steger
$ 1,550,000
Est. payment | /mo
23 Beds
9 Baths
8,184 SqFt
$ 1,550,000
Est. payment | /mo
23 Beds
9 Baths
8,184 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 8,184 sqft
Price per Sqft $189
Subdivision Ferndale
MLS Listing ID 2571429
Style 55 - 5-9 Units
Bedrooms 23
Year Built 1969
Annual Tax Amount $11,958
Lot Size 0.400 Acres
Property Sub-Type Multi Family
Property Description
9-Unit Multifamily Investment property with 6.3% Cap Rate. This income opportunity comprised of two well-maintained, adjacent properties in a great investment area of Ferndale: a 6-unit building at 1955 Eaton St and a triplex at 5825 Portal. All 9 units are currently occupied, with a strong base of long-term renters providing stable, in-place income, and the property sits outside the flood plain. The unit mix includes 6 three-bedroom, one-bath units, 2 two-bedroom, one-bath units, and 1 one-bedroom, one-bath unit, with rents ranging from $1,300 to $1,700 per month. The location is minutes from downtown shopping and restaurants, with easy access to parks, schools, freeway and the bus line. Highlights include on-site laundry, ample parking, an enclosed courtyard that adds a layer or privacy, and a new roof installed in 2025 on the triplex unit. The property is zoned RM High Density, offering potential upside for additional units (buyer to verify with the city). With a 6.2% cap rate, consistent occupancy, and a strong location in a growing investment area, this is a solid addition to any income portfolio. Buyer to verify all information, including zoning potential, square footage, and income/expense details.
Location
State WA
County Whatcom
Area 870 - Ferndale/Custer
Interior
Fireplace false
Exterior
Exterior Feature See Remarks
View Y/N No
Roof Type Composition
Building
Lot Description Paved
Sewer Sewer Connected
Water Community
New Construction No
Schools
School District Ferndale
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Marty Whitman
Agent | License ID: 22009898