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Sun-Mark Properties

Sun-Mark Properties
1850 Lake Whatcom Blvd.
Bellingham, WA 98229

360-733-3700
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Listing 2 out of 35
Sold for $5,700,000 Sold

194 E Bakerview Rd
Bellingham, WA 98226

47 units | Multi Family Home
1.07 acres - MLS# 1396901 Courtesy of Windermere Real Estate Whatcom
Property Photo

Sold

Sold for $5,700,000 on Apr 5, 2019

Description

True 5.76% Cap – New construction completed in late 2017 with 100% occupancy - 47 unit MF building on E Bakerview. The building has 40 studio apartments and 7 ground floor micro office suites with 52 parking spaces. Each studio unit features a HVAC, W/D, dishwasher, & 30 gal hot water tank. The timing is right on this new Bellingham apartment building.

Features

  • Property Type: Multi Family Home
  • Sub Type: Multi Family Home
  • New Construction: Y
  • Listing Status: Sold
  • Listing Price: $5,900,000
  • County/Area: Whatcom County
  • Zip Code: 98226
  • Year Built: 2017
  • School District: Bellingham
  • Sq.Ft.: 21,589 sq ft
  • Units: 47 units
  • # of Parking Spaces: 52
  • Lot Size: 1.07 acres
  • View: City, Partial, Territorial
  • Area: Bellingham
  • Amenities: Fire Sprinklers, Thermal Windows
  • Area Number: 860
  • Bathrooms Unit 1: 1.00
  • Bathrooms Unit 2: 1.00
  • Bathrooms Unit 3: 1.00
  • Bathrooms Unit 4: 1.00
  • Bathrooms Unit 5: 1.00
  • Bathrooms Unit 6: 1.00
  • Building Condition: Very Good
  • Cap Rate - NOI div LP: 5.76
  • Electrical Expenses: $18461
  • Energy Source(heat): Electric
  • Exterior: Cement Planked
  • Floor Covering: Laminate Hardwood, Vinyl, Wall to Wall Carpet
  • Foundation: Poured Concrete, Slab
  • General Zoning Class: Business, Commercial, Multi-Family, Office, Retail
  • Gross Adjusted Income: $467519
  • Gross Rent Multiplier: $12
  • Gross Scheduled Income: $477060
  • Heating/Cooling: Central A/C, Forced Air
  • Insurance Expenses: $5577
  • Lot Details: Paved Street, Sidewalk
  • Lot Dimensions: 166x281x165x282
  • Net Operating Income: $339906
  • New Construction Details: Completed
  • Number of Stories in Building: 3
  • Number of Uncovered Spaces: 52
  • Other Expenses: $43960
  • Power Company: Pse
  • Rent Unit 1: $851
  • Rent Unit 2: $851
  • Rent Unit 3: $851
  • Rent Unit 4: $851
  • Rent Unit 5: $851
  • Rent Unit 6: $851
  • Roof: Composition
  • Selling Agent: K.C. Coonc
  • Selling Office: Windermere Real Estate Whatcom
  • Sewer Company: City Of Bellingham
  • Site Features: Cable TV, Deck
  • Square Feet Unit 1: 320
  • Square Feet Unit 2: 320
  • Square Feet Unit 3: 320
  • Square Feet Unit 4: 320
  • Square Feet Unit 5: 320
  • Square Feet Unit 6: 320
  • Total Expenses: $127613, $127613
  • Total Monthly Income: $37399
  • Vacancy Rate: 2
  • Water Company: City Of Bellingham
  • Water Source: Public
  • Water/Sewer/Garbage: 10615
  • Sold Date: 2019-04-05 00:00:00
  • Sold Price: 5700000.00
Courtesy of Windermere Real Estate Whatcom
©NorthWest MLS 2019. Information deemed to be reliable but not guaranteed. The data relating to real estate for sale on this website is provided courtesy of NorthWest MLS. Real estate listings held by brokerage firms other than are marked with the three trees logo and detailed information about them includes the name of the listing brokers. Listing broker has attempted to offer accurate data, but buyers are advised to confirm all items. Information last updated on 2019-06-17

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Sun-Mark Properties | 360-733-3700 | Contact Us
1850 Lake Whatcom Blvd - Bellingham, WA 98229
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