Property Details

1717 Texas St

Bellingham, WA 98229

$4,350,000

Off Market

CBA# 711167 courtesy of CBA Listing firm: Northmarq Multifamily LLC

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Commercial

Property Type

14,740

Bldg Sq Ft

Units

1976

Year Built

Property Overview

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 t