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4233 Traverse Drive

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4233 Traverse Drive

4233 Traverse Dr, Bellingham, WA 98226
Multi-Family For Sale Available Cap Rate 5.5% Built 2024 2 floors Zoning: Residential Single
Asking Price
$14,750,000
Total Building58,441 SF
Land1,217 SF land
MarketWhatcom County
CountyWhatcom

Read Overview
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Overview

Property ID
307547
Listing ID
715311
Type
Multi-Family
Asset Class
Multi-Family
Zoning
Residential Single

Description

We are pleased to present a core investment opportunity consisting of 36-modern townhomes built in 2024. Parkside’s floorplans appeal to a broad subset of renters, that are attracted to the larger, functional floorplans that complement their active lifestyle.The 36 townhomes are individually parceled, providing optionality to sell-off individual townhomes in the future. Today, similar townhomes across the street are selling for $480k+ on average, 15% above guidance on Parkside.The property has completed lease-up and should stabilize to a 5.50% cap rate as concessions offered during the initial lease-up burn down and operations normalize.

Listing Courtesy of:

SW
Sam Wayne
Colliers International WA, LLC
11225 SE 6th St, Suite 240,
Bellevue, WA 98004-5873
State: WA City: Bellingham ZIP: 98226 Type: For Sale

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