Property Details

357 Martin Street
Blaine, WA 98230
$1,099,990
MLS# 2517689 courtesy of NWMLS Listing firm: Windermere RE Whatcom, Inc.

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357 Martin Street , Blaine, WA 98230, Blaine

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Multi-Family
Property Type
3,000
Bldg Sq Ft
7
Units
6.40%
Cap Rate
1990
Year Built

Property Overview

Prime mixed-use investment opportunity in the heart of Blaine, WA. This 3,000 sq ft income-producing commercial building offers a strong blend of residential and retail revenue streams in a high-demand, walkable location. Featuring multiple fully leased units, this property provides immediate cash flow with upside potential. The upper level includes two remodeled residential units, each approximately 750 sq ft with 2 bedrooms and 1 full bath, showcasing modern upgrades such as custom cabinetry, luxury vinyl plank flooring, tile finishes, updated appliances, new windows, and doors. The main level offers flexible commercial space with established retail presence, three office suites, and an additional residential unit, creating diversified income sources. Recent capital improvements include new cement board siding, a new roof, and composite exterior stairs, enhancing long-term durability and reducing future maintenance costs. Ample parking is available via alley access and street frontage. Strategically located near downtown Blaine, I-5, and the US/Canada border, this property benefits from consistent local traffic and cross-border economic activity. Ideal for investors seeking a stabilized asset with mixed-use zoning, strong rental history, and long-term appreciation potential.

Property Details

Property Information

Property Type Residential Income
Subtype Multi Family
Status Active
County Whatcom
Neighborhood Blaine
Listed May 4, 2026

Financial Summary

Cap Rate 6.40%
Net Operating Income $70,449
Gross Scheduled Income $83,400
Gross Rent Multiplier 13.00
Total Expenses $9,951

Building & Use

Building Sq Ft 3,000
Leasable Area 3,000 sqft
Total Units 7
Zoning Business
Possible Use Business
Lot Size 5,227 sqft
Year Built 1990

Exterior & Lot

Lot Size 0.12 sqft
Year Built 1990
Exterior Materials Cement Plank
Sewer Sewer Connected
Water Source Public
Lot Features Alley, Paved, Sidewalk
Exterior Features Cement Planked

Location

City Blaine
County Whatcom
Coordinates 48.99286, -122.74870

Additional Information

Tax Year 2025
Annual Taxes $2,864
Possession Array
Listed By
Brandi Coplen
Windermere RE Whatcom, Inc.

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