820 32nd Street, Bellingham, WA 98225
- $12,500,000
- 51,316
- SqFt
Listing courtesy of Windermere RE Whatcom, Inc.. Selling Office: Saratoga Commercial R.E..
- Sold Price
- $12,500,000
- List Price
- $14,250,000
- Status
- SOLD
- MLS#
- 2333623
- Closing Date
- Aug 21, 2026
- Days on Market
- 273
- Style
- 56 - 10+ Units
- Building Condition
- Very Good
- Finished SqFt
- 51,316
- Area Total SqFt
- 51316
- Annual Tax Ammount
- 52463
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 84,071
- Sewer
- Sewer Connected
Property Description
This well-maintained 57-unit apartment/townhouse complex (5 bldg) is in a high demand area, 1 mile from WWU. Strong reliable rental history. Roofs replaced and exterior painted last 3 years; windows new with dbl pane. Units remodeled (countertops, cabinet faces, flooring fixtures, upgraded appliances). Full size washer/dryer in each unit. Rare opportunity:land is zoned for 27 additional units. 2 minutes from I/5, Historic Fairhaven, excellent shopping, and next to Joe’s Garden. All units have 2 bedrooms (53 – 850 sq ft units; 4 – 1,059 sq ft units; 4 – ADA features). Baths: 32 apts with 1 – ¾ bath; 21 townhouses with 1 – ½ bath; 4 apts with 1 large bath. Bellingham has high growth but limited new supply. Excellent income producing property.
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Additional Information
- List Date
- 2025-11-21 00:00:00
- Community
- Sehome
- Net Operating Income
- $562,129
- Gross Adjusted Income
- $969,491
- Gross Scheduled Income
- $979,284
- Total Monthly Income
- $81,607
- Insurance Expenses
- $22,184
- Water/Sewer/Garbage Expenses
- $40,363
- Gross Rent Multiplier
- 19.6
- Total Expenses
- $407,362
- Cap Rate
- 3
- Vacancy Rate
- 1
- Total Number of Units
- 57
- Unit Name
- 820
- Potential Terms
- Cash, Conventional
- Year Built
- 1988
- View
- City, Territorial
- Roof
- Composition
- Site Features
- Cable TV, Deck, Fenced-Partially, High Speed Internet, Patio
- Electric Expenses
- 1716
- Other Expenses
- 290636
- Energy Source
- Electric
- School District
- Bellingham
- Elementary School
- Happy Vly Elem
- Middle School
- Fairhaven Mid
- High School
- Sehome High
- Total Monthly Income
- $81,607
- Gross Scheduled Income
- $979,284
- Vacancy Rate
- 1
- Gross Adjusted Income
- $969,491
- Tax Year
- 2024
- Insurance Expense
- $22,184
- W/S/G Expenses
- $40,363
- Total Expenses
- $407,362
- Net Operating Income
- $562,129
- Gross Rent Multiplier
- 19.6
- Cap Rate
- 3
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.