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
Commercial Sale
Subtype
Commercial Industrial
Status
Active
County
Whatcom
Neighborhood
Ferndale
Listed
Feb 5, 2026
Financial Summary
Cap Rate
4.00%
Net Operating Income
$25,754
Gross Scheduled Income
$31,200
Gross Rent Multiplier
20.80
Total Expenses
$5,446
Total Actual Rent
$2,600/mo
Building & Use
Building Sq Ft
2,100
Total Units
2
Sq Ft Rented
1,500
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
Exterior Materials
Cement, Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Cement/Concrete, Wood
Location
City
Ferndale
County
Whatcom
Coordinates
48.84767, -122.58976
Additional Information
Tax Year
2026
Annual Taxes
$4,446
Possession
Array
Based on information submitted to the MLS GRID as of May 5, 2026 8:45 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.
