1234 Grant Street, Bellingham, WA 98225

$725,000
1,632
SqFt

Listing courtesy of BHHS Bayside Realty.

List Price
$725,000
Status
ACTIVE
MLS#
2225036
Price Change
▼ $25,000 1718834534
Days on Market
80
Style
52 - Duplex
Finished SqFt
1,632
Area Total SqFt
1632
Annual Tax Ammount
4977
Lot Size (sq ft)
4,356
Sewer
Sewer Connected

Property Description

Updated classic rental duplex in the Historic York neighborhood. Spacious 3 bedroom lower unit and 2 bedroom upper unit provided years of near zero vacancy rent. Large detached garage and 3 private off-street/alley parking spots for tenants. Newer main roof and seamless gutters, plus newer hot water heaters, appliances, vinyl flooring & paint. Recently replaced shed roof. Washer and dryer conveniently located on back porch utility room. Market value rent increase potential to $2,000 for the lower unit and $1,700 for the upper unit would increase cap rate 4.7%. Utilities individually metered. Professionally managed. Short distance to WWU makes this an excellent college rental. Close to parks & centrally located to downtown.

Additional Information

List Date
2024-04-25 16:54:08
Community
York
Net Operating Income
$31,420
Gross Adjusted Income
$40,200
Gross Scheduled Income
$40,200
Total Monthly Income
$3,350
Insurance Expenses
$723
Water/Sewer/Garbage Expenses
$1,700
Gross Rent Multiplier
18.66
Total Expenses
$10,480
Cap Rate
4.2
Total Number of Units
2
Unit Name
1234
Potential Terms
Cash Out, Conventional
Year Built
1910
Roof
Composition, Torch Down
Site Features
Cable TV, Fenced-Partially, Gas Available
Other Expenses
3080
Energy Source
Electric, Natural Gas
School District
Bellingham
Elementary School
Happy Vly Elem
Middle School
Fairhaven Mid
High School
Sehome High
Total Monthly Income
$3,350
Gross Scheduled Income
$40,200
Gross Adjusted Income
$40,200
Tax Year
2024
Insurance Expense
$723
W/S/G Expenses
$1,700
Total Expenses
$10,480
Net Operating Income
$31,420
Gross Rent Multiplier
18.66
Cap Rate
4.2
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