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LCR
2312 Orleans Street, Bellingham, WA 98229
- $1,099,000
- 3,456
- SqFt
Listing Broker: Keller Williams Western Realty; Anthony Zapata; 360-739-1995; anthonyz@benkinneyteam.com
- List Price
- $1,099,000
- Status
- ACTIVE
- MLS#
- 2449566
- Days on Market
- 336
- Style
- 54 - 4-Plex
- Building Condition
- Good
- Finished SqFt
- 3,456
- Area Total SqFt
- 3456
- Annual Tax Ammount
- 6915
- Lot Size (sq ft)
- 10,019
- Sewer
- Sewer Connected
Property Description
Build your portfolio with this Bellingham fourplex offering rental income potential, recent improvements and room for future growth. With three 2BD/1BA units and one 1BD/1BA unit, the property offers options for an investor expanding a portfolio or a buyer looking to live in one unit and build a rental portfolio with the others. The mix of one- and two-bedroom homes provides flexibility for a long-term investment plan, while on-site coin-op laundry adds another income source. Recent improvements include fresh paint in two units, new carpet in Unit B, a new refrigerator in Unit D, and refreshed paint and caulking in the common areas. These updates support the property's rental appeal and give the next owner a starting point for future opportunities. Located in a central Bellingham area near shopping, restaurants, parks and freeway access, the property combines everyday convenience with long-term investment possibilities. Beyond the existing fourplex, the back portion of the lot offers potential for future development, creating another avenue to explore as part of a broader investment strategy. Focus on the existing rental income potential, consider an owner-occupied approach, or explore how the property could fit your plans for future growth. Buyer to verify development potential.
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Additional Information
- List Date
- 2025-10-31 00:13:12
- Community
- Bellingham
- Net Operating Income
- $43,955
- Gross Adjusted Income
- $69,540
- Gross Scheduled Income
- $73,200
- Total Monthly Income
- $6,100
- Insurance Expenses
- $3,500
- Gross Rent Multiplier
- 15
- Total Expenses
- $25,584
- Cap Rate
- 4
- Vacancy Rate
- 5
- Total Number of Units
- 4
- Unit Name
- 2312
- Potential Terms
- Cash, Conventional, FHA, VA Loan
- Year Built
- 1973
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Deck, Fenced-Partially, High Speed Internet
- Other Expenses
- 15169
- Energy Source
- Electric
- School District
- Bellingham
- Total Monthly Income
- $6,100
- Gross Scheduled Income
- $73,200
- Vacancy Rate
- 5
- Gross Adjusted Income
- $69,540
- Tax Year
- 2025
- Insurance Expense
- $3,500
- Total Expenses
- $25,584
- Net Operating Income
- $43,955
- Gross Rent Multiplier
- 15
- Cap Rate
- 4
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.