201 N Commercial Street, Bellingham, WA 98225
- $2,250,000
- 11,180
- SqFt
Listing courtesy of John L. Scott, Inc.
- List Price
- $2,250,000
- Status
- ACTIVE
- MLS#
- 2553317
- Days on Market
- 18
- Style
- 56 - 10+ Units
- Finished SqFt
- 11,180
- Area Total SqFt
- 11180
- Annual Tax Ammount
- 21170
- Lot Size (sq ft)
- 6,534
- Sewer
- Sewer Connected
Property Description
Welcome to the Avalon! An appealing multifamily investment opportunity located at 201 N Commercial Street in Bellingham, Washington. Originally built between 1900 and 1906, the property is a two-story, sixteen-unit apartment community located in downtown Bellingham. Built as ten large flats, the Bellingham Herald described the building as “the leading fashionable apartment house in the city and the most modern.” Tenants enjoy nine-foot ceilings throughout all units, with ample natural light provided by large windows in nearly every room. The original fir siding remains in excellent condition, contributing to the historic charm of the property. The property unit mix consists of two studios with approximately 400 square feet, eight one-bedrooms averaging approximately 600 square feet, and six two-bedrooms averaging approximately 930 square feet. All units retain their original trim, and many retain original fir flooring that’s been repainted over time. Some units have been upgraded with baseboard heat, and all units have radiator heat served by a steam boiler in the basement. There is no known knob-and-tube wiring, and Square D electrical panels supply electricity to the units. Supply lines have been replaced with pex plumbing in nearly all units. The Avalon offers excellent price-per-pound metrics of $140,625 per unit and $201 per foot, not including the large basement. The Avalon provides an excellent, risk-adjusted income stream with room for growth in the long term.
/u.realgeeks.media/rolandacarriere/header.png)
Additional Information
- List Date
- 2026-07-10 16:52:14
- Community
- Bellingham
- Net Operating Income
- $151,056
- Gross Adjusted Income
- $285,780
- Gross Scheduled Income
- $267,701
- Total Monthly Income
- $22,308
- Insurance Expenses
- $17,027
- Water/Sewer/Garbage Expenses
- $13,283
- Gross Rent Multiplier
- 8.72
- Total Expenses
- $116,644
- Cap Rate
- 6.71
- Vacancy Rate
- 5
- Total Number of Units
- 16
- Unit Name
- 201
- Potential Terms
- Cash, Conventional
- Year Built
- 1900
- Roof
- Torch Down
- Electric Expenses
- 7760
- Other Expenses
- 43466
- Energy Source
- Electric, Natural Gas
- School District
- Bellingham
- Total Monthly Income
- $22,308
- Gross Scheduled Income
- $267,701
- Vacancy Rate
- 5
- Gross Adjusted Income
- $285,780
- Tax Year
- 2026
- Insurance Expense
- $17,027
- W/S/G Expenses
- $13,283
- Total Expenses
- $116,644
- Net Operating Income
- $151,056
- Gross Rent Multiplier
- 8.72
- Cap Rate
- 6.71
Based on information submitted to the MLS GRID as of . 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 noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.