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… Read More 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. Read Less
Listing courtesy of John L. Scott, Inc
Listing Snapshot
Cumulative Days On Market
11
Days on Website
10
Last Updated
Property Type
Multi Family
Square Ft.
11,180
Lot Size
0.15 Acres
Year Built
1900
Property Tax
$21,170
MLS Number
2553317
30 Days Snapshot Of 98225
$805k
+20%
(avg) sold price
51
+41%
homes sold
69
+1%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Building Area Total: 11180, Building Area Units: Square Feet, Calculated Square Footage: 11180, Elevation Units: Feet, Leasable Area: 11180, Living Area: 0, Number Of Units Total: 16, Stories Total: 2, Structure Type: Multi Family, Units In Building Total: 16, Year Built: 1900
Electric Expense: 7760, Fuel Expense: 13938, Power Company: PSE, Power Production Type: "Electric", "Natural Gas", Water Company: Bellingham, Water Source: Public
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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