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Listing 3 out of 25
$3,300,000 For Sale

4071 Home Rd
Bellingham, WA 98226

30 units | Multi Family Home
0.71 acres - MLS# 1397398 Courtesy of Windermere Real Estate Whatcom
Property Photo
1/11

Description

True 6.3% Cap – Echo Flats West was built in 1981 but received a major renovation converting the property into a 30 unit apartment building with 16 ground floor studios, 12 loft one bedrooms, and 2 huge two bedroom units w/ loft with 36 parking spaces plus cell tower lease. Centrally located near Starbucks, Fred Meyer, the new Costco with more commercial development to come. Great looking property with zero vacancy.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • Listing Status: Active
  • County/Area: Whatcom County
  • Zip Code: 98226
  • Year Built: 1981
  • School District: Bellingham
  • Sq.Ft.: 9,180 sq ft
  • Units: 30 units
  • # of Parking Spaces: 34
  • Lot Size: 0.71 acres
  • Area: Bellingham
  • Amenities: Fire Sprinklers, 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
  • Building Condition: Remodeled
  • Cap Rate - NOI div LP: 5.90
  • Electrical Expenses: $8420
  • Energy Source(heat): Electric
  • Exterior: Cement Planked, Wood, Wood Products
  • Floor Covering: Hardwood, Vinyl
  • Foundation: Poured Concrete
  • General Zoning Class: Commercial, Multi-Family
  • Gross Adjusted Income: $276815
  • Gross Rent Multiplier: $12
  • Gross Scheduled Income: $268500
  • Heating/Cooling: Central A/C
  • Insurance Expenses: $7025
  • Lot Details: Curbs, Dead End Street, Paved Street, Sidewalk
  • Lot Dimensions: 103x304x103x304
  • Net Operating Income: $206346
  • Number of Stories in Building: 2
  • Number of Uncovered Spaces: 34
  • Other Expenses: $34882
  • Power Company: Pse
  • Roof: Composition
  • Sewer Company: Cob
  • Site Features: Cable TV
  • Total Expenses: $70469, $70469
  • Total Monthly Income: $276815
  • Vacancy Rate: 2
  • Water Company: Cob
  • Water Source: Public
  • Water/Sewer/Garbage: 10006
Courtesy of Windermere Real Estate Whatcom
©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 2019-03-26

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