Investor Opportunity! 8.2% (ish) Cap Rate!! Ask price is $149K per Unit. Huge financial upside possibility, these 8 units are already condominimized, if one was to sell separately @ $249K per condo, one would expect an immediate return of an $800K profit. (Less closing costs) Units are 2 bedrooms, 2 Baths, averaging 952 SQFT. If rents averaged $1,250 or $10K per Month / $120K per year. Current rents range in the $1,100 - $1,375 per month range. With a little effort, rent could be closer to $1,450 per month, This would create a 9.76 Cap. Lots of upside! Building is well situated, decent elevation, new construction methods and was not effected in the past Sumas floods. Or- The Condominium Building could be purchased by 8 separate individuals.
Listing courtesy of NWMLS / RE/MAX Whatcom County, Inc.
Last checked:
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Last updated Dec 1, 2023
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MLS# 2169586 —
The Building
Year Built:
1993
New Construction:
false
Structure Type:
Multi Family
Exterior Features:
Wood
Roof:
Composition
Units In Building Total:
8
Foundation Details:
Poured Concrete
# of Units Total:
8
Stories Total:
2
Building Area Total:
7672
Building Area Units:
Square Feet
Calculated SqFt:
7672
Interior
Interior Features:
Wall to Wall Carpet
Flooring:
Vinyl Plank, Carpet
Fireplace:
false
Financial & Terms
Possession:
Tenant's Rights
Buyer Financing:
Cash
Location
Latitude:
49.000258
Longitude:
-122.260832
Unit Number:
1-8
Directions:
HFrom Beautiful Downtown Sumas...From Cherry Street head East on Garfield Street and building is on your left.
The Property
Property Type:
Residential Income
Property Subtype:
Multi-Family
Parcel Number:
4104350393170008
Lot Features:
Paved, Sidewalk
Lot Size Units:
Square Feet
Lot Size Acres:
0.3409
Lot Size SqFt:
14850
Lot Size Source:
Tax Records
Zoning Class:
Multi-Family
Zoning Jurisdiction:
City
View:
Mountain(s)
View:
true
Waterfront:
false
Possible Use:
Multi-Family
Irrigation Water Rights:
false
Listing Agent
Contact info:
Agent phone:
3606(471) 313-3050
Office phone:
3606(471) 313-3050
Taxes
Tax Year:
2023
Tax Annual Amount:
12674
The Listing
Special Listing Conditions:
None
Heating & Cooling
Cooling:
true
Heating:
true
Cooling:
Forced Air
Heating:
Forced Air
Utilities
Water Company:
City Of Sumas
Water Source:
Community
Sewer:
Sewer Connected
Sewer Company:
City Of Sumas
Power Company:
Pse
Schools
Elementary School:
Sumas Elem
Middle Or Junior School:
Nooksack Vly Mid
High School:
Nooksack Vly High
High School District:
Nooksack Valley
The Community
Subdivision Name:
Sumas
Senior Community:
false
Association:
false
Parking
Parking Total:
15
Parking Uncovered Spaces:
11
Open Parking:
true
Open Parking Spaces:
11
Carport Spaces:
4
Carport:
false
Listing courtesy of NWMLS / RE/MAX Whatcom County, Inc.
This "Three Trees" icon indicates a listing provided courtesy of NWMLS. To submit a request for a takedown notice per the Digital Millennium Copyright Act (the “DMCA”) for any NWMLS listings please see these guidelines and follow the instructions provided.
The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.
GreatSchools scores are based on a scale from 1 to 10, where 10 is above average. The school service areas are not definitive and should only be used as guidance.
Walk Score is the most well-known measure of walkability for any address. It is based on the distance to a variety of nearby services and pedestrian friendliness. Walk Scores range from 0 (Car-Dependent) to 100 (Walker’s Paradise).
Bike Score®
Provided by WalkScore® Inc.
Bike Score evaluates a location's bikeability. It is calculated by measuring bike infrastructure, hills, destinations and road connectivity, and the number of bike commuters. Bike Scores range from 0 (Somewhat Bikeable) to 100 (Biker’s Paradise).
Sale history
Date
Event
Source
Price
% Change
12/1/23
Dec 1, 2023
Sold
NWMLS
$1,197,000
0.4%
10/18/23
Oct 18, 2023
Pending
NWMLS
$1,192,000
10/6/23
Oct 6, 2023
Listed / Active
NWMLS
$1,192,000
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No additional history available
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Multifamily
Sold
on 12/1/2023
$1,197,000
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Listing courtesy of NWMLS / RE/MAX Whatcom County, Inc.
This "Three Trees" icon indicates a listing provided courtesy of NWMLS. To submit a request for a takedown notice per the Digital Millennium Copyright Act (the “DMCA”) for any NWMLS listings please see these guidelines and follow the instructions provided.
The offer of compensation listed above is made to, and can only be accepted by, participants of the multiple listing service in which this listing is filed.
Disclaimer: The information contained in this listing has not been verified by RE/MAX Whatcom County, Inc. and should be verified by the buyer.
Checking…
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Last updated Dec 1, 2023
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