NOT LISTED FOR SALE

Estimated Value: $623,906 - $855,000

4 Beds
4 Baths
1,994 Sq Ft
$360/Sq Ft Est. Value

Last Sold April 30, 2024

Last sale price $625,000 $313 Per Sq Ft

Est. 15% increase in value since last sale

Current estimated payment $4,534/month

388 Days on Market

Highlights

  • Bay View
  • Softwood Flooring
  • High Speed Internet
  • Fairhaven Middle School Rated A-
  • No HOA

About This Home

As of April 2024

This is a rare find of a 4 plex that is almost 120 years old with good "bones" and character. One unit (#5) has a partial bay view and the others all have tall ceilings and long term tenants. These are all one bed/one bath units and there is off alley parking which is dedicated to the tenants. There is even a small lawn between the building and the parking area. There is asbestos siding which appears to be in good condition. The Seller has had this property for 35 years and it has always had tenants due to its awesome location and proximity to Downtown and WWU, he has not lived in the area for a number of years, however, if the building and units were improved the rental rates could be much higher. All four leases are 1 year.

Last Agent to Sell the Property

Lynda Hinton

Windermere Real Estate Whatcom License #24074 Listed on: 02/28/2023

Windermere Real Estate Whatcom

Last Buyer's Agent

Lisa Gergen

Better Properties NorthSeattle License #27955

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2039856

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,247

Year Built

  • Built in 1904

Lot Details

  • 4,356 Sq Ft Lot
  • Lot Dimensions are 27' x 125'
  • Property is in average condition

Property Views

  • Bay
  • Limited

Home Design

  • Quadruplex
  • Poured Concrete
  • Composition Roof

Interior Spaces

  • 1,994 Sq Ft Home
  • 2-Story Property

Flooring

  • Softwood
  • Wall to Wall Carpet
  • Vinyl Plank

Parking

  • 3 Parking Spaces
  • Open Parking

Utilities

  • Radiator
  • High Speed Internet

Community Details

  • No Home Owners Association
  • New Whatcom Condos
  • Downtown Subdivision

Listing and Financial Details

  • Legal Lot and Block 12 / 70
  • Assessor Parcel Number 3803301840030000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,247

Year Built

Built in 1904

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 54 - 4-Plex
  • Year Built: 1904
  • Buyer Agency Compensation: 2.5%
  • MLS Status: Sold
  • Prev Status: Closed
  • Building Name: New Whatcom
  • New Construction: No
  • CalculatedSquareFootage: 1994
  • Special Features: None
  • Cumulative Days on Market: 675

Interior Features

  • Possible Use: Multi-Family
  • Fireplace: No
  • Flooring: Softwood, Vinyl Plank, Carpet
  • Interior Amenities: Fir/Softwood, Wall to Wall Carpet
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • View: Bay, Partial, See Remarks
  • Lot Features: Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Exterior Features: See Remarks
  • Foundation Details: Poured Concrete
  • Property Condition: Average
  • Structure Type: Quadruplex
  • ConstructionMethods: Standard Frame

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 3
  • Open Parking: Yes
  • Total Parking Spaces: 3
  • ParkingUncoveredSpaces: 3

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Cooling: None
  • Cooling Y N: No
  • Heating: Radiator
  • Heating Yn: Yes
  • PowerCompany: PSE
  • SewerCompany: City of Bellingham
  • WaterCompany: City Of Bellingham
  • CableConnected: Xfinity
  • InternetConnected: Xfinity
  • WaterSewerGarbage: 3427

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Fee Information

  • Annual Fuel Expense: 1584

Schools

  • Junior High Dist: Bellingham
  • High School: Buyer To Verify
  • Middle Or Junior School: Buyer To Verify

Lot Info

  • Parcel Number: 3803301840030000
  • Lot Size Acres: 0.1
  • Lot Size: 27' x 125'
  • Lot Size Sq Ft: 4356
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • SiteFeatures: High Speed Internet
  • MLSLotSizeSource: Assessor
  • ZoningJurisdiction: City
  • ZoningClass: Multi-Family
  • LotNumber: 12

Green Features

  • Power Production Type: Natural Gas

Rental Info

  • GrossRentMultiplier: 22.78
  • LeasedItems: None
  • TotalMonthlyIncome: 3200

Multi Family

  • Gross Scheduled Income: 38400
  • Net Operating Income: 26688
  • Number Of Units Total: 4
  • Electric Expense: 182
  • Insurance Expense: 1272
  • Leasable Area: 1994
  • EnergySource: Natural Gas
  • UnitsInBuildingTotal: 4
  • UnitsBelowGrade: false
  • VacancyRate: 0

Tax Info

  • Year: 2022
  • Tax Annual Amount: 5247

MLS Schools

  • Elementary School: Buyer To Verify

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Feb 28, 2023
Closed on
Apr 30, 2024
Sold by
Cornia Gregory L and Goodman John
Bought by
Gergen Brianna and Gergen Jessica Teresa
Seller's Agent
Lynda Hinton
Windermere Real Estate Whatcom
Buyer's Agent
Lisa Gergen
Better Properties NorthSeattle
List Price
$875,000
Sold Price
$625,000
Premium/Discount to List
-$250,000
-28.57%
Views
486
Current Estimated Value
$717,977

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$92,977
Avg. Annual Appreciation
3.95%
Original Mortgage
$468,750
Outstanding Balance
$464,175
Interest Rate
6.74%
Mortgage Type
New Conventional
Estimated Equity
$188,795

Purchase Details

Listed on
Feb 28, 2023
Closed on
Apr 10, 2024
Sold by
Jones Marlene J and Jones Dale
Bought by
Estates Cole-Graham
Seller's Agent
Lynda Hinton
Windermere Real Estate Whatcom
Buyer's Agent
Lisa Gergen
Better Properties NorthSeattle
List Price
$875,000
Sold Price
$625,000
Premium/Discount to List
-$250,000
-28.57%
Views
486

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$468,750
Outstanding Balance
$464,175
Interest Rate
6.74%
Mortgage Type
New Conventional
Estimated Equity
$188,795

Purchase Details

Closed on
Dec 12, 2022
Sold by
Cole Mark
Bought by
Cornia Greg
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Gergen Brianna $625,000 Chicago Title
Estates Cole-Graham -- Chicago Title
Cornia Greg -- --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Gergen Brianna $468,750
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/30/2024 04/30/24 Sold $625,000 -3.8% $313 / Sq Ft
03/22/2024 03/22/24 Pending -- -- --
12/22/2023 12/22/23 Price Changed $650,000 -17.5% $326 / Sq Ft
07/29/2023 07/29/23 Price Changed $787,500 -10.0% $395 / Sq Ft
02/28/2023 02/28/23 For Sale $875,000 -- $439 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $6,424 $805,155 $538,790 $266,365
2023 $6,424 $825,606 $552,475 $273,131
2022 $5,247 $711,742 $476,280 $235,462
2021 $5,148 $564,875 $378,000 $186,875
2020 $3,642 $523,032 $350,000 $173,032
2019 $3,261 $357,667 $146,284 $211,383
2018 $3,283 $321,059 $131,337 $189,722
2017 $2,832 $276,421 $113,074 $163,347
2016 $2,478 $249,143 $101,468 $147,675
2015 $2,430 $226,971 $92,675 $134,296
2014 -- $215,343 $87,927 $127,416
2013 -- $214,153 $87,927 $126,226
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2039856

Northwest Multiple Listing Service (NWMLS)

APN: 380330-184003-0000