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344 E Bellis Fair Pkwy, Bellingham, WA 98226 344 E Bellis Fair Pky 4 Unit Apartment Building $2,024,084 CAD ($506,021 CAD/Unit) 3.90% Cap Rate Bellingham, WA 98226
INVESTMENT HIGHLIGHTS
- Close to amenities
- Near I-5
- Near Community College
EXECUTIVE SUMMARY
Turnkey 4-Plex near Whatcom Community College and Bellis Fair Mall - Prime Investment Opportunity! Located just steps from the grocery store and the major retail corridor of Bellingham, this property offers income and long-term upside potential. Each unit features 2 bedrooms and 2 bathrooms with spacious layouts, fireplace, updated appliances, designated parking, nearby bus lines and in-unit laundry. The private decks and patios offer an escape from the indoors. Strong rental history with less than 1% vacancy rate. Rents are currently under market value, and there are several ways to reduce expenses to increase NOI. Pro forma cap rate is about 5.1% This is a great opportunity in Bellingham's demanding rental market.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,024,084 CAD | Property Subtype | Apartment |
| Price Per Unit | $506,021 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 3.90% | Building Size | 5,992 SF |
| Gross Rent Multiplier | 17 | Average Occupancy | 100% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2002 |
| Zoning | PRM3.6 | ||
| Price | $2,024,084 CAD |
| Price Per Unit | $506,021 CAD |
| Sale Type | Investment |
| Cap Rate | 3.90% |
| Gross Rent Multiplier | 17 |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 5,992 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2002 |
| Zoning | PRM3.6 |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Balcony
- Dishwasher
- Disposal
- Fireplace
- Microwave
- Storage Space
- Washer/Dryer
- Heating
- Bay Window
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Stainless Steel Appliances
- Tub/Shower
- Carpet
- Family Room
- Linen Closet
- Patio
- Vinyl Flooring
SITE AMENITIES
- Private Bathroom
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 4 | $2,513 CAD | 1,493 |
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PROPERTY TAXES
| Parcel Number | 380318-172480-0000 | Total Assessment | $2,160,891 CAD |
| Land Assessment | $333,500 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $1,827,391 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
380318-172480-0000
Land Assessment
$333,500 CAD
Improvements Assessment
$1,827,391 CAD
Total Assessment
$2,160,891 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2024
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344 E Bellis Fair Pkwy, Bellingham, WA 98226 | 344 E Bellis Fair Pky
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