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    1500 E Victor Street

    Bellingham, WA 98225
    • $1,895,000
    • STATUS: Pending
    • ON SITE: 67 Days
    • ID#: 1823404
    Under Contract
    UPDATED: 18 min ago
    $1,895,000
    • 0
      BEDS
    • 0.5
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,700
      SQFT
    • $246
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1969
    County:
    Area:

    School Information

    Elementary School:
    Middle School:
    High School:
    School District:
    Listing Courtesy of Re/Max Whatcom County, Inc..

    Description

    10 Unit Apartment Building - Columbia Neighborhood - Bellingham, WA. Single level apartments consisting of SIX 2 Bedroom and FOUR 1 Bedroom Units. Believe it or not, the rents truly are below market value. Current Actual Rent is $9,325 per month. Market rent value should be in the $11,700 - $13,200 per month range. Current owners are out of state and did not want to increase the monthly rent. Laundry generates an additional $110 per month income. Desirably located in a predominately owner occupied neighborhood. Very few apartments in the surrounding. Actual Cap rate is 4.7, with a proforma in the 6-7 Cap range. This is it - act quick. Possible Seller Terms - Owner Contract. Please do not Disturb the Tenants!

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    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Alchemy Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-10-24T15:15:17.28.

    www.alchemyre.com/homes/120567134
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    1500 E Victor Street Bellingham, WA 98225

    • Price: $1,895,000
    • Status: Pending
    • Updated: 18 min ago
    • ID#: 1823404
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.5
    Acres
    7,700
    SQFT
    $246
    $/SQFT
    1969
    Built
    Neighborhood:
    Columbia
    County:
    Whatcom
    Area:
    Bellingham
    Elementary School:
    Parkview Elem
    Middle School:
    Whatcom Mid
    High School:
    Bellingham High
    School District:
    Bellingham
    Property Description
    10 Unit Apartment Building - Columbia Neighborhood - Bellingham, WA. Single level apartments consisting of SIX 2 Bedroom and FOUR 1 Bedroom Units. Believe it or not, the rents truly are below market value. Current Actual Rent is $9,325 per month. Market rent value should be in the $11,700 - $13,200 per month range. Current owners are out of state and did not want to increase the monthly rent. Laundry generates an additional $110 per month income. Desirably located in a predominately owner occupied neighborhood. Very few apartments in the surrounding. Actual Cap rate is 4.7, with a proforma in the 6-7 Cap range. This is it - act quick. Possible Seller Terms - Owner Contract. Please do not Disturb the Tenants!
    Exterior Features

    Carport Spaces 0 Carport YN No Covered Spaces 0 Exterior Features Cement/Concrete Lot Features PavedSidewalk Open Parking Spaces 20 Open Parking YN Yes Parking Total 20 Parking Uncovered Spaces 20 Roof Composition Structure Type Multi Family Style Code 56 - 10+ Units View Territorial View YN Yes Waterfront YN No

    Interior Features

    Building Area Total 7700 Fireplace YN No Furnished Unfurnished Heating Cooling Type Baseboard Heating YN Yes Living Area 0 Square Footage Finished 0 Square Footage Unfinished 0

    Property Features

    Electric On Property YN No Energy Source Electric FIRPTAYN No Irrigation Water Rights YN No Listing Terms Cash OutConventional Net Operating Income 88706 New Construction YN No Possession Tenant's Rights Possible Use Multi-FamilyResidential Power Company Pse Power Production Type Electric Property Sub Type Multi-Family Senior Community YN No Sewer Sewer Connected Sewer Company Cob Special Listing Conditions None Tax Annual Amount 9055 Tax Year 2021 Units In Building Total 10 Utilities Sewer ConnectedElectricity Available Water Company Cob Water Source Public Zoning Class Multi-FamilyResidential Zoning Jurisdiction City

    Listing information © 2021 Northwest Multiple Listing Service. Information is based on data available to the associate, including county records. The information contained in this listing has not been verified by Alchemy Real Estate and should be verified by the buyer.


    The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than Alchemy Real Estate are marked by the "three tree" symbol; detailed information about such listings includes the names of the listing brokers. Data last updated 2021-10-24T15:15:17.28.

     
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    Alchemy Real Estate
    2921 Eastlake Ave E
    Seattle WA, 98102
    Listing Courtesy of Re/Max Whatcom County, Inc..