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Listing provided courtesy of Brett Nichols, Hammer Properties NW Inc..
Source NWMLS.
521 N Forest St, Bellingham, WA 98225
12
beds
6.75
baths
11410
ft2
· 13764
ft2 lot
$3,949,000
$346 / ft2
8 units one block from WWU. Never lack for tenants. Location can't be beat. Campus is a 2-minute walk, downtown, 10-minutes. Students love the walkable location. Owner-paid expenses are reasonable. Property is two well kept older homes, and one 2018 triplex and one 2021 triplex, almost completed. Complex rents fast. Return on investment is excellent! Never any vacancy. Listing is for 2 single-family houses, and 2 triplexes.
HOA
$0/month
On market
2 months
Year built
2021
Property type
55 5 Plex,Multi Family
Parking
16
MLS
1734256
Price / Sq.Ft.
$346 / ft2
Status
Active
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Flyhomes Cash Offer
Based on a price of $3,949,000
Rebate:
Cash Offer Costs:
Net Rebate:
Negotiating Power:
Flyhomes Cash Offer
$29,618
$4,969
+$673/day
$24,649
Best
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$29,618
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Discount Brokerage
$13,624
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$13,624
Average
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$0
not offered
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Property Details
Interior Features & Layout
Oven Unit 1
Oven Unit 1
Oven Unit 2
Oven Unit 2
Dishwasher Unit 1
Dishwasher Unit 1
Washer Dryer Unit 1
Washer Dryer Unit 1
Dishwasher Unit 2
Dishwasher Unit 2
Washer Dryer Unit 2
Washer Dryer Unit 2
Dishwasher Unit 3
Dishwasher Unit 3
Dishwasher Unit 4
Dishwasher Unit 4
Dishwasher Unit 5
Dishwasher Unit 5
Dishwasher Unit 6
Dishwasher Unit 6
Heating Details
Forced Air
Refrigerator Unit 1
Refrigerator Unit 1
Flooring
Ceramic Tile, Vinyl, Wall to Wall Carpet
Unit 6 Beds
3
Refrigerator Unit 2
Refrigerator Unit 2
Unit 5 Beds
3
Unit 1 Baths
0.00
Unit 4 Beds
3
Unit 2 Baths
0.00
Unit 3 Baths
1.75
Unit 3 Beds
3
Unit 4 Baths
1.75
Unit 5 Baths
1.75
Unit 6 Baths
1.50
Property, Lot, Community & Exterior Features
Total Units In Building
8
Garage Spaces
6
View
Bay
Area Amenities
Basement, Fire Sprinklers, Storage
Zoning
Multi-Family
Lot Features
AB, Cable TV, Deck, Gas Available, High Speed Internet, Sprinkler System
Lot Size Source
Architectural plans
Mls Prop Type
55 - 5-Plex, Multi-Family
Building Exterior Details
Cement Planked, Wood, Wood Products
Uncovered Spaces
10
Zoning Type
City
New Construction
New Construction
Unit 6 Sqft
1100
Building Condition
Very Good
Unit 5 Sqft
1000
Style
55 - 5-Plex
Unit 4 Sqft
1000
Foundation
Poured Concrete
Unit 3 Sqft
1000
Roof
Composition
Effective Year Built
2021
Unit 2 Sqft
3000
Lot Details
Alley, Curbs, Paved Street, Sidewalk, O
Unit 1 Sqft
2200
Carport Spaces
6
Lot Number
3802365313470000
Mls Property Type
Multi-Family
Unit 1 Details
521
Unit 2 Details
517
Unit 3 Details
523#1
Lot Dimensions
125 x 100
Unit 4 Details
523#2
Number Stories
3
Unit 5 Details
523#3
Year Built Source
PR
Unit 6 Details
519 #1
Utilities & Other Information
Water / Sewer / Garbage
8760
Water Source
Public
Power Company
PSE
Sewer Company
CoB
Energy Source
Electric, Natural Gas
Sewer
Sewer Connected
Water Company
CoB
Electric Expenses
288
Listing Details, Costs & Financing Information
Insurance Expenses
4188
Form 17
Provided
Possession
Sub. Tenant's Rights
Buyer's Agent Commission
1.5
Terms
Cash Out
Net Operating Income
219972
Monthly Rent Unit 1
3500
Other Expenses
4437
Monthly Rent
21600
Monthly Rent Unit 2
4500
Gross Rent Multiplier
18
Monthly Rent Unit 3
2500
Cap Rate
5.60
Monthly Rent Unit 4
2300
Monthly Rent Unit 5
2100
Monthly Rent Unit 6
2100
Tax Year
2019
Sale Type
MLS
Status
Active
Gross Scheduled Income
259000
Offers
RECEIPT
Taxes
24822
Operating Expense
39028, 39028
Apn
3802365313470000
Gross Adjusted Income
259000
School Neighborhood & Directions
Directions
From I-5 take the Lakeway Bellingham exit and go west towards downtown Bellingham. South on State Street. Exit roundabout onto State. Go left on Cedar. Turn right into alley.
Details provided by NWMLS and may not match the public record.The information contained in this listing has not been verified by Flyhomes and should be verified by the buyer.

Data last updated: Apr 21, 2021 5:35pm
Neighborhood snapshot
28
Properties for sale
7
Median days on market
$375.22
Median sold price/sqft
102.12%
Sold/List %
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walk score® :
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transit score® :
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bike score® :
Property History
02/25/2021
02/25/2021
NWMLS #1734256
active
NWMLS #1734256
$3,949,000
+1000.00%
12/23/2014
12/23/2014
NWMLS #694351
sold
NWMLS #694351
$359,000
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Courtesy of NWMLS
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