Property Details

4233 Traverse Dr

Bellingham, WA 98226

$14,750,000

Available

CBA# 715311 courtesy of CBA Listing firm: Colliers International WA, LLC

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Commercial

Property Type

58,441

Bldg Sq Ft

Units

5.00%

Cap Rate

2024

Year Built

Property Overview

We are pleased to present a core investment opportunity consisting of 36-modern townhomes built in 2024. Parkside’s floorplans appeal to a broad subset of renters, that are attracted to the larger, functional floorplans that complement their active lifestyle.The 36 townhomes are individually parceled, providing optionality to sell-off individual townhomes in the future. Today, similar townhomes across the street are selling for $480k+ on average, 15% above guidance on Parkside.The property has completed lease-up and should stabilize to a 5.50% cap rate as concessions offered during the initial lease-up burn down and operations normalize.