NOT LISTED FOR SALE

Estimated Value: $657,000 - $965,000

3 Beds
3 Baths
3,276 Sq Ft
$256/Sq Ft Est. Value

Last Sold April 22, 2019

Last sale price $1,075,000 $328 Per Sq Ft

Est. 22% decrease in value since last sale

Current estimated payment $5,252/month

12 Days on Market

Highlights

  • 0.41 Acre Lot
  • Corner Lot
  • Vinyl Flooring
  • Fairhaven Middle School Rated A-
  • Property is in very good condition
  • 1-Story Property

About This Home

As of April 2019

Happy Valley Apartments features 5 multi-family units near WWU in the Happy Valley neighborhood of Bellingham, WA. This fully occupied property was completely remodeled in the summer of 2018. With zero vacancies, this strong income property is turn key and has been well maintained and managed. Located on 24th St and Mill Ave, this property offers great accessibility to WWU, Happy Valley Elementary, Fairhaven and is easily accessed from I-5.

Last Agent to Sell the Property

Michael Reams

Windermere Real Estate Whatcom License #114384 Listed on: 03/05/2019

Last Buyer's Agent

Erika Buse

COMPASS License #125354

COMPASS

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1419357

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $6,611

Year Built

  • Built in 1970

Lot Details

  • 0.41 Acre Lot
  • Corner Lot
  • Property is in very good condition

Home Design

  • Brick Exterior Construction
  • Poured Concrete
  • Composition Roof

Interior Spaces

  • 3,276 Sq Ft Home
  • 1-Story Property
  • Vinyl Flooring

Parking

  • 16 Parking Spaces
  • Open Parking

Schools

  • Happy Vly Elementary School
  • Fairhaven Mid Middle School
  • Sehome High School

Community Details

  • Happy Valley Subdivision

Listing and Financial Details

  • Assessor Parcel Number 3702015591320000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$6,611

Year Built

Built in 1970

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 55 - 5-9 Units
  • Year Built: 1970
  • Buyer Agency Compensation: 3
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 3276
  • Special Features: None
  • Cumulative Days on Market: 281

Interior Features

  • Fireplace: No
  • Flooring: Vinyl
  • Stories: 1
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Composition
  • Lot Features: Corner Lot, Curbs
  • View: No
  • Waterfront: No
  • Exterior Features: Brick
  • Foundation Details: Poured Concrete
  • Property Condition: Very Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 16
  • Open Parking: Yes
  • Total Parking Spaces: 16
  • ParkingUncoveredSpaces: 16

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • PowerCompany: Puget Sound Energy
  • SewerCompany: City of Bellingham
  • WaterCompany: City of Bellingham
  • WaterSewerGarbage: 3360

Condo/Co-op/Association

  • Association Fee Frequency: Annually

Schools

  • Junior High Dist: Bellingham
  • High School: Sehome High
  • Middle Or Junior School: Fairhaven Mid

Lot Info

  • Parcel Number: 3702015591320000
  • Lot Size Acres: 0.41
  • Lot Size Sq Ft: 17859
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Realist
  • ZoningJurisdiction: City

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 16
  • LeasedItems: None
  • TotalMonthlyIncome: 6080

Multi Family

  • Gross Scheduled Income: 72960
  • Net Operating Income: 58791
  • Number Of Units Total: 6
  • Insurance Expense: 1260
  • Leasable Area: 3276
  • UnitsInBuildingTotal: 5
  • UnitsBelowGrade: false
  • VacancyRate: 1

Tax Info

  • Year: 2019
  • Tax Annual Amount: 6611

MLS Schools

  • Elementary School: Happy Vly Elem

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 5, 2019
Closed on
Apr 19, 2019
Sold by
Ho Wen Huan Steve and Chu Fang Yi
Bought by
Mc Capital Llc
Seller's Agent
Michael Reams
Windermere Real Estate Whatcom
Buyer's Agent
Erika Buse
COMPASS
List Price
$1,175,000
Sold Price
$1,075,000
Premium/Discount to List
-$100,000
-8.51%
Total Days on Market
12
Current Estimated Value
$838,667

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
-$236,333
Avg. Annual Appreciation
-3.76%
Original Mortgage
$515,625
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Listed on
Mar 5, 2019
Closed on
Apr 17, 2019
Sold by
Reams Michael P and Reams Katherine A
Bought by
Ho Wenhuan Steve and Ho Fangyi
Seller's Agent
Michael Reams
Windermere Real Estate Whatcom
Buyer's Agent
Erika Buse
COMPASS
List Price
$1,175,000
Sold Price
$1,075,000
Premium/Discount to List
-$100,000
-8.51%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$515,625
Interest Rate
4.4%
Mortgage Type
New Conventional

Purchase Details

Closed on
Feb 27, 2018
Sold by
Smith Monty M
Bought by
Reams Michael P and Reams Katherine A

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$580,000
Interest Rate
4.04%
Mortgage Type
Unknown
Source: Public Records

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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
Mc Capital Llc -- None Available
Ho Wenhuan Steve $387,500 Chicago Title Insurance Co
Reams Michael P $650,000 Chicago Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Md Capital Llc $507,500
Closed Ho Wenhuan Steve $515,625
Previous Owner Reams Michael P $580,000
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
04/22/2019 04/22/19 Sold $1,075,000 +56.4% $328 / Sq Ft
04/22/2019 04/22/19 Sold $687,500 -41.5% $315 / Sq Ft
03/17/2019 03/17/19 Pending -- -- --
03/17/2019 03/17/19 Pending -- -- --
03/05/2019 03/05/19 For Sale $1,175,000 +56.7% $359 / Sq Ft
03/05/2019 03/05/19 For Sale $750,000 -- $343 / 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 $6,530 $810,231 $439,244 $370,987
2023 $6,530 $839,199 $454,948 $384,251
2022 $5,377 $714,216 $387,192 $327,024
2021 $5,108 $575,996 $312,260 $263,736
2020 $5,019 $505,255 $273,910 $231,345
2019 $4,081 $479,597 $260,000 $219,597
2018 $4,219 $391,001 $211,575 $179,426
2017 $3,722 $347,067 $187,800 $159,267
2016 $3,388 $319,546 $172,800 $146,746
2015 $3,335 $303,034 $163,800 $139,234
2014 -- $0 $0 $0
2013 -- $0 $0 $0
Source: Public Records

Agents Affiliated with this Home

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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1419357

Northwest Multiple Listing Service (NWMLS)

APN: 370201-559132-0000