Property Details

We are pleased to present Texas Street Apartments, a 22-unit multifamily apartment community located in the Roosevelt neighborhood of Bellingham. Built in 1976 the property consists of two residential buildings totaling approximately 14,740 NRSF and features a well-balanced mix of 16 one-bedrooms and 6 two-bedroom units. The current operations provided potential buyers with an opportunity for immediate cash flow at a 6.02% in-place Cap Rate. Current rents are approximately 4.27% below market, providing owners with an opportunity to move rents to market on turnover. New ownership has the opportunity to further push rents through continued interior renovations of units on turnover. The community features 30 total parking spaces, including 15 surface and 15 covered stalls.Situated in the Roosevelt neighborhood of Bellingham, the property benefits from proximity to major employment centers including Western Washington University, PeaceHealth St. Joseph Medical Center, and downtown Bellingham. Residents also enjoy convenient access to popular retail and lifestyle amenities such as Bellis Fair Mall, local parks, and the city’s waterfront, as well as key transit corridors connecting the broader region. The area’s strong rental demand and limited new supply support long-term occupancy stability and value appreciation.