Property Details
1954 Eaton Avenue #1-3
Ferndale, WA 98248
$565,000
Active
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Property Overview
Prime Multifamily Value-Add & Development Opportunity in Ferndale! Located just minutes from schools, parks, and downtown, this rare tri-plex offers immediate cash flow with major future upside. Situated on a Mixed Use Commercial (MXD) zoned lot, NOT in a Flood Zone, this property presents an exceptional chance for investors seeking both stable rental income and expansion potential. The site includes a 1964 yr rambler duplex (1,560 sq ft total) featuring two fully rented 2-bedroom, 1-bath units (780 sq ft each), currently being updated/repaired. Additionally, there is a separate single story 1 bedroom, 1 bathroom, 702 sq ft home currently slated for rehab or removal—opening the door for redevelopment. Exciting possibilities: adding an additional ADU or more units (buyer to verify). Tenants have 3 covered parking spaces with extra storage, pay for garbage, electricity & natural gas. Owner pays Water/Sewer & yard care currently. Strong existing tenants make this a smooth, income-producing investment from day one. Opportunities like this—affordable multifamily with zoning flexibility in a non-flood zone, with room to grow—don’t come around often. Secure your foothold in Ferndale’s expanding market today!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Whatcom
Neighborhood
Ferndale
Listed
Feb 24, 2026
Original Price
$590,000
Financial Summary
Cap Rate
3.80%
Net Operating Income
$22,730
Gross Scheduled Income
$38,612
Gross Rent Multiplier
15.50
Total Expenses
$13,920
Vacancy Rate
8.0%
Building & Use
Building Sq Ft
2,262
Leasable Area
1,560 sqft
Total Units
3
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
16,117 sqft
Year Built
1964
Exterior & Lot
Lot Size
0.37 sqft
Year Built
1964
Exterior Materials
Wood
Parking
RV Parking
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Paved
Exterior Features
Wood
Location
City
Ferndale
County
Whatcom
Coordinates
48.85356, -122.58772
Additional Information
Tax Year
2025
Annual Taxes
$3,741
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 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.
