Property Details
5660 Eagle Place
Ferndale, WA 98248
$895,000
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Property Overview
April Update!! Newly remodeled Unit 1 now rented = full occupancy. Best Value 4-Plex in Ferndale. Now priced at $895,000. This is one of the best 4-plex opportunities in Ferndale for investors who understand value-add potential. With one fully renovated & now RENTED unit already completed (Unit 1), the path to increased income is factual —not theoretical. Each unit offers a functional 2-bedroom, 1-bath layout with private decks, while upper units feature vaulted ceilings that enhance tenant appeal and livability. The property has a strong rental history and remains consistently occupied, supported by its cul-de-sac location and proximity to schools, parks, and key commuter routes. What sets this asset apart is the built-in upside: one unit fully upgraded, three remaining units offering clear opportunity for future rent increases through light, interior cost-effective improvements. Six off-street parking spaces and a well-maintained structure further support long-term performance. For investors comparing options, this property stands out as a strategic play—buy at today’s adjusted price, stabilize, and grow income over time. In a market where fully “maxed-out” properties leave little room to improve returns, this one gives you control of the upside from day one.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Whatcom
Neighborhood
Ferndale
Listed
Feb 24, 2026
Original Price
$920,000
Financial Summary
Cap Rate
3.64%
Net Operating Income
$32,548
Gross Scheduled Income
$57,865
Gross Rent Multiplier
15.50
Total Expenses
$21,845
Vacancy Rate
6.0%
Building & Use
Building Sq Ft
3,208
Leasable Area
3,208 sqft
Total Units
5
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
10,454 sqft
Year Built
1991
Exterior & Lot
Lot Size
0.24 sqft
Year Built
1991
Exterior Materials
Metal/Vinyl
Sewer
Sewer Connected
Water Source
Public
Lot Features
Cul-De-Sac, Dead End Street, Paved
Exterior Features
Metal/Vinyl
Location
City
Ferndale
County
Whatcom
Coordinates
48.84738, -122.60611
Additional Information
Tax Year
2025
Annual Taxes
$5,713
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.
