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Listing 17 out of 27
Sold for $1,500,000 Sold

2516 Cornwall Ave
Bellingham, WA 98225

8 units | Multi Family Home
6098 sq ft - MLS# 1352483 Courtesy of Bellwether Real Estate
Property Photo

Sold

Sold for $1,500,000 on Feb 28, 2019

Description

Stable income stream from this amazing turn key investment property. Nearly 100K in net operating income providing a 6.23% Cap rate. Every unit re-done with new kitchens and baths and granite counters, new appliances, and cabinets. Gorgeous fir flooring. , absolutely amazing character. Sought after building with zero vacancy. Income of just under 10K per month. All units are leased. New TPO roof, plumbing and electrical upgrades. Sit back and enjoy the cash flow. GREAT VALUE/100% TURN KEY

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Sold
  • Listing Price: $1,595,000
  • County/Area: Whatcom County
  • Zip Code: 98225
  • Year Built: 1932
  • School District: Bellingham
  • Elementary School: Buyer To Verify
  • Middle School: Whatcom Mid
  • High School: Bellingham High
  • Sq.Ft.: 4,800 sq ft
  • Units: 8 units
  • # of Parking Spaces: 5
  • Lot Size: 6098 sq ft
  • View: City, Territorial
  • Area: Cornwall Park
  • Amenities: Basement, Thermal Windows
  • Area Number: 860
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 1.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Bedrooms Unit 1: 1
  • Bedrooms Unit 2: 1
  • Bedrooms Unit 4: 2
  • Bedrooms Unit 6: 1
  • Building Condition: Very Good
  • Cap Rate - NOI div LP: 5.90
  • Electrical Expenses: $368
  • Energy Source(heat): Electric
  • Exterior: Stucco
  • Floor Covering: Fir/Softwood, Laminate Tile, See Remarks
  • Foundation: Poured Concrete
  • General Zoning Class: Multi-Family, Residential
  • Gross Adjusted Income: $118140
  • Gross Rent Multiplier: $14
  • Gross Scheduled Income: $118140
  • Heating/Cooling: Wall
  • Insurance Expenses: $4729
  • Lot Details: Alley, Curbs, Sidewalk
  • Lot Dimensions: 50X126
  • Net Operating Income: $99340
  • Number of Stories in Building: 2
  • Number of Uncovered Spaces: 5
  • Other Expenses: $1778
  • Power Company: Pse
  • Rent Unit 1: $1120
  • Rent Unit 2: $1200
  • Rent Unit 3: $975
  • Rent Unit 4: $1500
  • Rent Unit 5: $1200
  • Rent Unit 6: $1150
  • Roof: See Remarks
  • Selling Agent: Monte Young
  • Selling Office: Bellwether Real Estate
  • Sewer Company: City Of Bellingham
  • Site Features: Cable TV, Gas Available, High Speed Internet
  • Square Feet Unit 1: 539
  • Square Feet Unit 2: 588
  • Square Feet Unit 3: 341
  • Square Feet Unit 4: 813
  • Square Feet Unit 5: 517
  • Square Feet Unit 6: 420
  • Total Expenses: $18800, $18800
  • Total Monthly Income: $9845
  • Water Company: City Of Bellingham
  • Water Source: Public
  • Water/Sewer/Garbage: 3978
  • Sold Date: 2019-02-28 00:00:00
  • Sold Price: 1500000.00
Courtesy of Bellwether Real Estate
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website is provided courtesy of NorthWest MLS. Real estate listings held by brokerage firms other than RE/MAX Whatcom County, Inc. are marked with the three trees logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-05-25

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