Property Details
2312 Orleans Street
Bellingham, WA 98229
$1,099,000
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Property Overview
Prime investment opportunity in Bellingham! This well-maintained fourplex offers strong income potential and future development options on the back portion of the lot. The property features three spacious 2BD/1BA units and one 1BD/1BA unit, plus an on-site coin-op laundry for added income. Located in a central area close to shopping, restaurants, parks, and freeway access, it’s ideal for investors seeking steady returns and long-term upside. Current rents are below market, creating immediate value-add potential with rent adjustments or upgrades. Whether you’re entering the investment market or expanding your portfolio, this property offers solid cash flow today and room to grow tomorrow. Buyer to verify development potential.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Whatcom
Neighborhood
Bellingham
Listed
Oct 30, 2025
Structure Type
Quadruplex
Parcel Number
3803201680080000
Tax & HOA
Annual Property Tax
$6,915 (2025)
Est. Monthly Tax
$576/mo
Financial Summary
Cap Rate
5.50%
Net Operating Income
$60,240
Gross Scheduled Income
$70,656
Gross Rent Multiplier
16.00
Total Expenses
$10,415
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
3,456
Leasable Area
3,456 sqft
Total Units
4
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
10,019 sqft
Year Built
1973
Exterior & Lot
Lot Size
0.23 sqft
Year Built
1973
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Community & Access
Directions
West on Alabama St. Left on Orleans. Building is near end of street on the left.
Location
City
Bellingham
County
Whatcom
Coordinates
48.76083, -122.45724
Additional Information
Tax Year
2025
Annual Taxes
$6,915
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:08 AM. 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.
