Property Details
5698 2nd Avenue
Ferndale, WA 98248
$649,744
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Property Overview
Incredible investment opportunity in Ferndale! Tucked at the end of a dead-end street and close to schools, parks, and downtown, this duplex sits on a lot zoned for up to SIX units, providing cash flow now and tons of future upside. Site features two fully rented, standalone units and completed dirt-work for additional units behind. Alley access and private parking spots accommodate up to 12 vehicles, paving the path to bring this property to its highest potential. 5698 (left side unit) is a 2-bed/1-bath unit while 5696 (right side) is a 1/1 with a 200sqft storage area below and a partially finished 200sqft office above, plumbed for a bathroom. 600sqft shop can be used for storage or removed to put in additional units. 5698 built in 2004 + 5696 was finished in 2025. Both units in excellent shape, with LVP flooring, and are individually metered. Excellent current tenants, too. A rare, affordable opportunity for immediate rental income and significant development potential!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Whatcom
Neighborhood
Ferndale
Listed
Feb 5, 2026
Financial Summary
Cap Rate
4.10%
Net Operating Income
$26,739
Gross Scheduled Income
$31,200
Gross Rent Multiplier
20.80
Total Expenses
$4,461
Building & Use
Building Sq Ft
1,500
Leasable Area
1,500 sqft
Total Units
2
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
17,424 sqft
Year Built
2004
Exterior & Lot
Lot Size
0.40 sqft
Year Built
2004
Garage
2 spaces
Exterior Materials
Cement Plank, Wood
Parking
RV Parking
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Dead End Street, Paved
Exterior Features
Cement Planked, Wood
Location
City
Ferndale
County
Whatcom
Coordinates
48.84767, -122.58976
Additional Information
Tax Year
2025
Annual Taxes
$3,461
Possession
Array
Based on information submitted to the MLS GRID as of May 5, 2026 8:30 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.
