2603 Elm St

Bellingham, WA 98225

Status

PENDING

MLS#

1206005

List Price

$1,050,000

Days on Market

9

Style

55 - 5-9 Units

Finished SqFt

6,474

Lot Size (sq ft)

4,356

Property Description

Columbia/Fountain District Historic 9 Unit Apartment Building. Upgraded and well maintained. Rarely a vacancy. Gross Scheduled Income of $87,060 per year. Buyer of this building will have First opportunity to purchase the adjacent 2 bedroom rental with a 800 SQFT shop building and basement laundry room with a low-down payment Owners Contract.

Property Details

List Date

2017-10-11 00:00:00

Community

Columbia

Property Type

MULT

Units

9

Stories

2

Additional Information

Potential Terms

Cash Out, Conventional

Year Built

1925

Total Parking

2

Uncovered Parking

2

Exterior

Brick

Roof

See Remarks

Lot Details

Corner Lot, Paved Street, Sidewalk

School District

Bellingham

Elementary School

Columbia Elem

Middle School

Whatcom Mid

High School

Bellingham High

Financial Information

Total Monthly Income

$7,255

Gross Scheduled Income

$87,060

Vacancy Rate

3

Gross Adjusted Income

$84,883

Annual Taxes

$6,677

Tax Year

2017

Insurance Expense

$4,600

W/S/G Expenses

$9,357

Total Expenses

$32,501

Net Operating Income

$54,559

Gross Rent Multiplier

12

Cap Rate

5

Approximate Room Dimensions

Unit 1 Beds

1

Unit 1 Baths

1.00

Unit 1 Rent

$850

Unit 2 Baths

1.00

Unit 2 Rent

$780

Unit 3 Beds

1

Unit 3 Baths

1.00

Unit 3 Rent

$800

Unit 4 Baths

1.00

Unit 4 Rent

$750

Unit 5 Baths

1.00

Unit 5 Rent

$750

Unit 6 Beds

1

Unit 6 Baths

1.00

Unit 6 Rent

$800

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Listing courtesy of RE/MAX Whatcom County, Inc..

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