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Texas Street Apartments

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Texas Street Apartments

1717 Texas St, Bellingham, WA 98229
Multi-Family For Sale Available Built 1976 2 floors Zoning: RM2L5
Asking Price
$4,350,000
Total Building14,740 SF
Available14,740 SF avail
Land24,829 SF land
Parking Total30
& Uncov.
ConstructionFramed
MarketWhatcom County
CountyWhatcom

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Overview

Property ID
306693
Listing ID
711167
Type
Multi-Family
Asset Class
Multi-Family
Zoning
RM2L5

Description

We are pleased to present Texas Street Apartments, a 22-unit multifamily apartment community located in the Roosevelt neighborhood of Bellingham. Built in 1976 the property consists of two residential buildings totaling approximately 14,740 NRSF and features a well-balanced mix of 16 one-bedrooms and 6 two-bedroom units. The current operations provided potential buyers with an opportunity for immediate cash flow at a 6.02% in-place Cap Rate. Current rents are approximately 4.27% below market, providing owners with an opportunity to move rents to market on turnover. New ownership has the opportunity to further push rents through continued interior renovations of units on turnover. The community features 30 total parking spaces, including 15 surface and 15 covered stalls.Situated in t

Listing Courtesy of:

TS
Tyler Smith
Northmarq Multifamily LLC
10500 NE 8th Suite 1920,
Bellevue, WA 98004
State: WA City: Bellingham ZIP: 98229 Type: For Sale

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Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.