2603 Elm St, Bellingham, WA 98225

$1,050,000
6,474
SqFt

Listing courtesy of RE/MAX Whatcom County, Inc..

List Price
$1,050,000
Status
PENDING INSPECTION
MLS#
1206005
Days on Market
9
Style
55 - 5-9 Units
Finished SqFt
6,474
Lot Size (sq ft)
4,356

Property Description

Columbia/Fountain District Historic 9 Unit Apartment Building. Upgraded and well maintained. Rarely a vacancy. Gross Scheduled Income of $87,060 per year. Buyer of this building will have First opportunity to purchase the adjacent 2 bedroom rental with a 800 SQFT shop building and basement laundry room with a low-down payment Owners Contract.

Additional Information

List Date
2017-10-11 00:00:00
Community
Columbia
Property Type
MULT
Units
9
Stories
2
Potential Terms
Cash Out, Conventional
Year Built
1925
Total Parking
2
Uncovered Parking
2
Exterior
Brick
Roof
See Remarks
Lot Details
Corner Lot, Paved Street, Sidewalk
School District
Bellingham
Elementary School
Columbia Elem
Middle School
Whatcom Mid
High School
Bellingham High
Total Monthly Income
$7,255
Gross Scheduled Income
$87,060
Vacancy Rate
3
Gross Adjusted Income
$84,883
Annual Taxes
$6,677
Tax Year
2017
Insurance Expense
$4,600
W/S/G Expenses
$9,357
Total Expenses
$32,501
Net Operating Income
$54,559
Gross Rent Multiplier
12
Cap Rate
5

Room Dimensions

Unit 1 Beds
1
Unit 1 Baths
1.00
Unit 1 Rent
$850
Unit 2 Baths
1.00
Unit 2 Rent
$780
Unit 3 Beds
1
Unit 3 Baths
1.00
Unit 3 Rent
$800
Unit 4 Baths
1.00
Unit 4 Rent
$750
Unit 5 Baths
1.00
Unit 5 Rent
$750
Unit 6 Beds
1
Unit 6 Baths
1.00
Unit 6 Rent
$800

Mortgage Calculator

Amount of Loan
Annual Interest Rate
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Term of Loan
Years

Does not include any taxes or fees.
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Calculator source: Real Geeks

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