Property Details
820 32nd Street
Bellingham, WA 98225
$14,250,000
Pending Inspection
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Property Overview
This well-maintained 57-unit apartment/townhouse complex (5 bldg) is in a high demand area, 1 mile from WWU. Strong reliable rental history. Roofs replaced and exterior painted last 3 years; windows new with dbl pane. Units remodeled (countertops, cabinet faces, flooring fixtures, upgraded appliances). Full size washer/dryer in each unit. Rare opportunity:land is zoned for 27 additional units. 2 minutes from I/5, Historic Fairhaven, excellent shopping, and next to Joe’s Garden. All units have 2 bedrooms (53 – 850 sq ft units; 4 – 1,059 sq ft units; 4 – ADA features). Baths: 32 apts with 1 – ¾ bath; 21 townhouses with 1 – ½ bath; 4 apts with 1 large bath. Bellingham has high growth but limited new supply. Excellent income producing property.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Pending Inspection
County
Whatcom
Neighborhood
Sehome
Listed
Feb 26, 2025
Original Price
$19,000,888
Structure Type
Multi Family
Parcel Number
370306236351
Tax & HOA
Annual Property Tax
$52,463 (2024)
Est. Monthly Tax
$4,372/mo
Financial Summary
Cap Rate
3.00%
Net Operating Income
$562,129
Gross Scheduled Income
$979,284
Gross Rent Multiplier
19.60
Total Expenses
$407,362
Vacancy Rate
1.0%
Building & Use
Building Sq Ft
51,316
Leasable Area
50,956 sqft
Total Units
57
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
1.93 acres
Year Built
1988
Exterior & Lot
Lot Size
1.93 sqft
Year Built
1988
Exterior Materials
Cement Plank, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Cement Planked, Wood
Community & Access
Directions
I-5 to Samish Way exit follow west of the freeway 36th St to Fielding follow to 820 32nd just north of Joe's Garden's.
Location
City
Bellingham
County
Whatcom
Coordinates
48.72600, -122.47655
Additional Information
Tax Year
2024
Annual Taxes
$52,463
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 10:37 AM. 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.
