500 -508 Gladstone Street, Bellingham, WA 98225
- $850,000
- 1,872
- SqFt
Listing Broker: Windermere RE Whatcom, Inc.; David Hovde; ; Selling Office: NextHome Northwest Living.
- Sold Price
- $850,000
- List Price
- $850,000
- Status
- SOLD
- MLS#
- 2482349
- Closing Date
- Mar 25, 2026
- Days on Market
- 75
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 1,872
- Area Total SqFt
- 1872
- Annual Tax Ammount
- 8716
- Internet Provider
- Comcast
- Lot Size (sq ft)
- 4,356
- Sewer
- Sewer Connected
Property Description
This rare property offers exceptional flexibility—operate it as a 4-plex or as two separate duplexes. Each apartment features 1 bedroom and 1 bath, along with an equal amount of square footage in a daylight basement that can function as a garage, storage area, or workspace. Ideally located just a short distance from Nelson’s Market and Café, offering walkability and long-term rental appeal. Three of the 4 units were vacated preparing for sale, one long term tenant in 504 recently signed a new lease at $1,400 per month, providing a reliable benchmark for rental potential. Property updates include a new roof (500), gas ranges and heat throughout, new LVP flooring in 500 Gladstone, and a newly installed sewer line in 508.
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Additional Information
- List Date
- 2026-01-09 00:00:00
- Community
- York
- Net Operating Income
- $48,951
- Gross Adjusted Income
- $65,856
- Gross Scheduled Income
- $67,200
- Total Monthly Income
- $5,600
- Insurance Expenses
- $3,149
- Water/Sewer/Garbage Expenses
- $5,040
- Gross Rent Multiplier
- 12.65
- Total Expenses
- $16,905
- Cap Rate
- 5.76
- Vacancy Rate
- 2
- Total Number of Units
- 4
- Unit Name
- 500 -508
- Potential Terms
- Cash, Conventional
- Year Built
- 1925
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Gas Available
- Energy Source
- Natural Gas
- School District
- Bellingham
- Elementary School
- Lowell Elem
- Middle School
- Fairhaven Mid
- High School
- Sehome High
- Total Monthly Income
- $5,600
- Gross Scheduled Income
- $67,200
- Vacancy Rate
- 2
- Gross Adjusted Income
- $65,856
- Tax Year
- 2025
- Insurance Expense
- $3,149
- W/S/G Expenses
- $5,040
- Total Expenses
- $16,905
- Net Operating Income
- $48,951
- Gross Rent Multiplier
- 12.65
- Cap Rate
- 5.76
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.