Property Details
631 N forest Street
Bellingham, WA 98225
$1,000,000
Pending Inspection
Schedule a Showing
Select your date preference
Request More Info
1 / 24
Property Overview
Rare Sehome Hill investment and development opportunity! Situated on a 12,056 sq. ft. lot with stunning bay and city views, this property features an existing triplex plus a detached carriage house just two blocks from WWU. Remodeled carriage house in 2025 which offers 2 bedrooms, 2 bathrooms, private laundry, and dedicated parking below. Triplex features three units full of timeless character, including original fir floors and shared laundry, with a strong rental history and consistent demand due to its prime location. Five total designated parking spaces provide added convenience for tenants. True value lies in the land. Zoned High Density with no maximum unit count, this property offers incredible infill development potential. Retain the existing income-producing structures while adding additional units or explore redevelopment options to maximize the site's density and breathtaking views. Located near Forest & Cedar Park, downtown Bellingham, and Western Washington University, opportunities like this are increasingly rare. Buyer to verify all development potential and zoning requirements. Don't miss your chance to own a premier investment property in one of Bellingham's most sought-after neighborhoods.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Whatcom
Neighborhood
South Hill
Listed
Jul 15, 2026
Structure Type
Quadruplex
Parcel Number
380331012397
Tax & HOA
Annual Property Tax
$8,845 (2026)
Est. Monthly Tax
$737/mo
Financial Summary
Cap Rate
5.74%
Net Operating Income
$57,363
Gross Scheduled Income
$86,940
Gross Rent Multiplier
11.50
Total Expenses
$29,577
Building & Use
Building Sq Ft
3,665
Leasable Area
3,665 sqft
Total Units
4
Lot Size
12,053 sqft
Year Built
1908
Exterior & Lot
Lot Size
0.28 sqft
Year Built
1908
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk, Value In Land
Exterior Features
Wood
Community & Access
Directions
Use GPS
Location
City
Bellingham
County
Whatcom
Coordinates
48.74174, -122.48556
Additional Information
Tax Year
2026
Annual Taxes
$8,845
Possession
Array
Based on information submitted to the MLS GRID as of July 29, 2026 2:21 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.
