1615 James Street, Bellingham, WA 98225

$825,000
3,648
SqFt

Listing courtesy of Windermere Real Estate Whatcom. Selling Office: HomeSmart One Realty.

Sold Price
$825,000
List Price
$775,000
Status
SOLD
MLS#
2074264
Closing Date
Dec 29, 2023
Days on Market
44
Style
54 - 4-Plex
Building Condition
Good
Finished SqFt
3,648
Area Total SqFt
3648
Annual Tax Ammount
7550
Lot Size (sq ft)
9,148
Sewer
Sewer Connected

Property Description

Highly desirable 4-plex right in the heart of Bellingham. Easy access to shopping, WWU campus, downtown, and near bus routes. These units are currently under market rent. Rents are scheduled to go up in August 2023 to $1300 per unit. Opportunity to bring rents higher up to current market value. Newer roof and some interior remodeling done in the last 3 years.

Additional Information

List Date
2023-11-15 00:00:00
Community
York
Net Operating Income
$49,354
Gross Adjusted Income
$61,692
Gross Scheduled Income
$63,600
Total Monthly Income
$5,300
Water/Sewer/Garbage Expenses
$2,160
Gross Rent Multiplier
14.94
Total Expenses
$12,338
Cap Rate
5.2
Vacancy Rate
3
Total Number of Units
4
Unit Name
1615
Potential Terms
Cash Out, Conventional
Year Built
1969
View
Territorial
Roof
Composition
Site Features
Cable TV
Other Expenses
2628
Energy Source
Electric
School District
Bellingham
Elementary School
Lowell Elem
Middle School
Fairhaven Mid
High School
Sehome High
Total Monthly Income
$5,300
Gross Scheduled Income
$63,600
Vacancy Rate
3
Gross Adjusted Income
$61,692
Tax Year
2023
W/S/G Expenses
$2,160
Total Expenses
$12,338
Net Operating Income
$49,354
Gross Rent Multiplier
14.94
Cap Rate
5.2
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