Rare development/commercial opportunity in the heart of Old Town Bellingham. This site previously approved permits for a 50-unit multifamily apartment project, qualifies for the MFH Tax Exemption, offering strong financial upside for developers pursuing new residential density in a high-demand urban corridor. History of prior entitlements provides a proven roadmap… Read More for redevelopment, allowing flexibility for a revised/expanded vision. The existing improvements support a range of permitted commercial uses including retail, office, creative or design studios, service-based businesses, light production, and mixed commercial occupancy. This flexibility allows an investor or owner-user to generate income by leasing the property over several years while completing design, entitlement, or capital planning for future redevelopment. The property is strategically located minutes from Downtown Bellingham, the Waterfront District, and Western Washington University, with easy access to major transit routes, employment centers, and surrounding neighborhoods. Old Town continues to experience revitalization, with an 84-unit multifamily development currently underway nearby, reinforcing strong housing demand and long-term growth momentum. A rare combination of MFTE eligibility, proven development feasibility, flexible interim commercial use, and a highly desirable central location for investors, developers, or owner-operators. the permitted plans are included in the list price Read Less
Listing courtesy of KW Lake Washington So
Listing Snapshot
Cumulative Days On Market
159
Days on Website
26
Last Updated
Property Type
Land
Lot Size
0.23 Acres
Property Tax
$8,524
MLS Number
2550658
30 Days Snapshot Of 98225
$763k
0%
(avg) sold price
50
+28%
homes sold
71
-2%
(avg) days on market
Snapshot
Area Map
Additional Details
Property Access
Road Surface: Gravel, Paved, See Remarks, Road Responsibility: See Remarks
Building
Building Area Total: 0, Building Area Units: Square Feet, Calculated Square Footage: 0, Elevation Units: Feet, Living Area: 0, Structure Type: None
Fireplaces
Fireplaces Total: 0
Home Owner's Association
Association Fee Frequency: Not Applicable, Association Fee: $0
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. Listings last updated on ,
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