Property Details
1252 Nevada Street
Bellingham, WA 98226
$3,400,000
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Property Overview
17 unit apartment complex off Lakeway on Nevada Street within walking distance to bus line, Whole Foods, Carl cozier elementary school, city park and pool complex. Central location.Unit mix:12 one- bedroom units and 5 -two bedroom units all under market rent with stable vacancy history.Excellent parking.Recent maintenance:New roof 2026new gutters 2026new washer dry units in common laundry roomThe third floor units are accessed off a ground level parking lot with 9 uncovered spaces on the east side of the property.20 uncovered spaces on ground floor access and 7 covered spaces.There is a parking agreement that can be terminated or negotiated for parking income with adjacent building owner that generates additional income.Operating Expenses: Using a 28% total expense estimate.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Whatcom
Neighborhood
Puget
Listed
Jun 5, 2026
Structure Type
Multi Family
Parcel Number
3803321344930000
Tax & HOA
Annual Property Tax
$25,357 (2026)
Est. Monthly Tax
$2,113/mo
Financial Summary
Cap Rate
5.50%
Net Operating Income
$186,000
Gross Scheduled Income
$263,000
Gross Rent Multiplier
12.90
Total Expenses
$71,967
Vacancy Rate
2.0%
Building & Use
Building Sq Ft
12,768
Leasable Area
10,000 sqft
Total Units
1
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
29,185 sqft
Year Built
1979
Exterior & Lot
Lot Size
0.67 sqft
Year Built
1979
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Paved
Exterior Features
Wood
Community & Access
Directions
Lakeway east off I-5 to Nevada StreetRight (south) on Nevada.
Location
City
Bellingham
County
Whatcom
Coordinates
48.74427, -122.45886
Additional Information
Tax Year
2026
Annual Taxes
$25,357
Possession
Array
Based on information submitted to the MLS GRID as of June 11, 2026 8:30 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
