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Listed by:Muljat Group • Ian Steger
$ 1,550,000
Est. payment | /mo
0.4 Acres Lot
$ 1,550,000
Est. payment | /mo
0.4 Acres Lot
Key Details
Property Type Commercial
Sub Type Commercial Industrial
Listing Status Active
Purchase Type For Sale
Subdivision Ferndale
MLS Listing ID 2572692
Style 61 - Comm Bldg Ovr 10K
Year Built 1969
Annual Tax Amount $11,958
Lot Size 0.400 Acres
Property Sub-Type Commercial Industrial
Property Description
9-Unit Multifamily Investment property with 6.3% Cap Rate. This income opportunity comprised of two well-maintained, adjacent properties in a great investment area of Ferndale: a 6-unit building at 1955 Eaton St and a triplex at 5825 Portal. All 9 units are currently occupied, with a strong base of long-term renters providing stable, in-place income, and the property sits outside the flood plain. The unit mix includes 6 three-bedroom, one-bath units, 2 two-bedroom, one-bath units, and 1 one-bedroom, one-bath unit, with rents ranging from $1,300 to $1,700 per month. The location is minutes from downtown shopping and restaurants, with easy access to parks, schools, freeway and the bus line. Highlights include on-site laundry, ample parking, an enclosed courtyard that adds a layer or privacy, and a new roof installed in 2025 on the triplex unit. The property is zoned RM High Density, offering potential upside for additional units (buyer to verify with the city). With a 6.2% cap rate, consistent occupancy, and a strong location in a growing investment area, this is a solid addition to any income portfolio. Buyer to verify all information, including zoning potential, square footage, and income/expense details.
Location
State WA
County Whatcom
Area 870 - Ferndale/Custer
Interior
Fireplace false
Building
Sewer Sewer Connected
Water Community
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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NEARBY SCHOOL & BUSINESS