309 S State Street St

Bellingham, WA 98225

Status

ACTIVE

MLS#

1337086

List Price

$1,199,000

Days on Market

15

Style

52 - Duplex

Building Condition

['Remodeled']

Finished SqFt

2,156

Lot Size (sq ft)

8,712

Property Description

Great investment duplex property in highly coveted South Hill with amazing ocean views. This is the second time this property has been available since 1973! Potential to live in one unit beginning in November and rent the other unit. This property also has great development potential, have steady rental income while you are planning a new build. The property has been impeccably maintained and each 2BR/1.5 BA unit features high end finishes and large ocean facing decks. A must see!

Property Details

List Date

2018-08-02 00:00:00

Community

South Hill

Property Type

MULT

Units

2

Stories

2

Additional Information

Potential Terms

Cash Out, Conventional

Year Built

1973

Total Parking

6

Uncovered Parking

2

View

Bay, Ocean

Exterior

Wood

Roof

Composition

Lot Details

Paved Street, Sidewalk

School District

Bellingham

Financial Information

Total Monthly Income

$3,750

Gross Scheduled Income

$45,000

Vacancy Rate

1

Gross Adjusted Income

$45,000

Annual Taxes

$5,731

Tax Year

2017

Insurance Expense

$1,400

W/S/G Expenses

$2,340

Total Expenses

$9,471

Net Operating Income

$35,529

Gross Rent Multiplier

26

Cap Rate

3

Approximate Room Dimensions

Unit 1 Beds

2

Unit 1 Baths

1.50

Unit 1 Size

1100

Unit 1 Rent

$1,800

Unit 2 Beds

2

Unit 2 Baths

1.50

Unit 2 Size

1100

Unit 2 Rent

$1,950

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Listing courtesy of Coldwell Banker Bain.

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