Listing provided courtesy of Muljat Group - MLS# NWM2140595MLS Provider

3613 Consolidation AvenueBellingham, WA 98225

Multi-Family · 108 Beds · 47,097 Sq. ft. | 0.63 Acres

$21,000,000 Active

Overview

Time on Site:
266 days
Visits:
2

Location!!! This property is inside the Samish Way Urban Village Plan. Built in 2021 Samish Flats luxury apartment homes offer all the modern amenities including w/d in units. Low vacancies can be attributed to the convenient location, near I-5 and Western Washington University. The 20 lower-level garage spaces offer additional income. In addition to the tenants paying all utilities, the property enjoys an 8-year tax abatement on the improvements. Owner will consider partial financing, rate negotiable, price to adjust accordingly.

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Facts & Features

  • Type Multi-Family
  • Sq. ft. 47,097
  • Price/Sq.ft. $445
  • Lot 0.63 Acres

General

Association/HOA
  • Association Fee: $0.00
School Information
  • School District: Bellingham
Income/Expenses
  • Other Expense: 101049
  • Electric Expense: 3840
  • Fuel Expense: 0
  • Gross Scheduled Income: 984732
  • Insurance Expense: 18000
  • Net Operating Income: 819571
  • Total Expenses: 155493
  • Total Monthly Income: 82061
  • Water/Sewer/Garbage: 21250
Building Information
  • New Construction: No
  • Year Built: 2021
Location/Region
  • Country: US
  • County Or Parish: Whatcom
  • MLS Area Major: 860 - Bellingham
  • Subdivision Name: Sehome
Community/Development
  • Amenities: Elevator
Tax Information
  • Tax Annual Amount: $11,354.00
  • Tax Year: 2023
General Information
  • Buyers Agent Compensation: 1.0
  • Parcel Number: 3803314661450000
  • Possible Use: Multi-Family
  • Property Condition: Very Good
  • Property Sub Type: Multi-Family
  • Property Type: Residential Income
  • Senior Community: No
  • Special Listing Conditions: None
  • Zoning Class: Multi-Family

Interior

Building Interior
  • Building Area Units: Square Feet
  • Calculated Square Footage: 0
  • Square Footage Finished: 0
  • Square Footage Unfinished: 0
General Information
  • Cooling: No
  • Fireplace: No
  • Foundation Details: Poured Concrete
  • Heating: Yes
  • Leasable Area: 37207
  • Leasable Area Units: Square Feet
  • Living Area: 0
  • Living Area Units: Square Feet
  • Power Production Type: Electric
  • Stories Total: 6

Exterior

Parking Information
  • Open Parking Spaces: 36
  • Open Parking: Yes
  • Parking Total: 56
  • Parking Uncovered Spaces: 36
Lot Information
  • Irrigation Water Rights: No
  • Lot Features: Curbs, Dead End Street, Paved, Sidewalk
  • Lot Size Acres: 0.6325
  • Lot Size Square Feet: 27550
  • Lot Size Units: Square Feet
  • Site Features: Cable TV, Fenced-Partially, High Speed Internet
  • Elevation Units: Feet
  • Water Source: Public
Waterfront/View
  • Waterfront: No
Building Exterior/Construction
  • Roof: Metal
  • Structure Type: Multi Family
General Information
  • Carport Spaces: 0
  • Carport: No
  • Covered Spaces: 20
  • Exterior Features: Cement Planked
  • Number Of Units Total: 37
  • Sewer: Sewer Connected

Unit Information

Unit Details

    Neighborhood

    Community

    98225 (Bellingham) Demographics
    29
    Median Age
    3,455
    Population Density (per sq. mile)
    56%
    College Educated
    $53,093
    Estimated Median Income
    9,008
    Estimated Total Home Owners
    12,804
    Estimated Total Renters
    41% / 59%
    Estimated Owner / Renter Divide
    2
    Estimated Average Household Size
    Community data courtesy of LiveBy, Inc.

    Schools

    Elementary Schools
    1
    Public
    Birchwood Elementary School
    • Grades: PK - 5
    • Enrollment: 359
    4
    Public
    Columbia Elementary School
    • Grades: PK - 5
    • Enrollment: 300
    3
    Public
    Happy Valley Elementary School
    • Grades: PK - 5
    • Enrollment: 454
    4
    Public
    Lowell Elementary School
    • Grades: PK - 5
    • Enrollment: 270
    3
    Public
    Parkview Elementary School
    • Grades: PK - 5
    • Enrollment: 343
    2
    Public
    Sunnyland Elementary School
    • Grades: PK - 5
    • Enrollment: 310
    Middle Schools
    4
    Public
    Fairhaven Middle School
    • Grades: 6 - 8 /
    • Enrollment: 595
    1
    Public
    Shuksan Middle School
    • Grades: 6 - 8 /
    • Enrollment: 686
    4
    Public
    Whatcom Middle School
    • Grades: 6 - 8 /
    • Enrollment: 678
    High Schools
    4
    Public
    Bellingham High School
    • Grades: 9 - 12 /
    • Enrollment: 1,193
    1
    Public
    Options High School
    • Grades: 9 - 12 /
    • Enrollment: 205
    4
    Public
    Sehome High School
    • Grades: 9 - 12 /
    • Enrollment: 1,153
    School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.

    Monthly Cost

    $
    $ %
    %
    $
    $
    * Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information.

    Market Data

    Based on the last 30 days in this zip code

    $986,361
    Median Sales Price
    $562
    Median Price per Square Foot
    319
    Properties Sold
    35
    New on Market
    64
    Average Days on Market
    66
    Properties for Sale
    Calculations provided by Reliance Network

    History

    Date Event Value Agent
    7/20/2023Source: NWMLS Added to Database
    July 20, 2023