Listed by Pacific Continental Realty LLC, Bought with Coldwell Banker Bain
NOT LISTED FOR SALE

3435 Redwood Ave Bellingham, WA 98225

12 Beds
9 Baths
14,400 Sq Ft
0.73 Acres

Last Sold January 04, 2021

Last sale price $3,317,885 $230 Per Sq Ft

About This Home

As of January 2021

16 units located directly across from the new Alderwood Elementary School scheduled for completion in August of 2021. Owner managed, zero vacancy, with 11 of the 16 units on month to month leases to long term tenants. Lots of upside by bringing this property to market rents thru professional management. Townhouse style units with 14 of the 16 units recently updated. City of Bellingham is reviewing annexing the property into the City. Strong 6% cap stabilized with projected rents.

Last Agent to Sell the Property

KC Coonc

Pacific Continental Realty LLC License #17357 Listed on: 12/29/2020

Last Buyer's Agent

Dean Ulrich

Coldwell Banker Bain License #26646

Coldwell Banker Bain

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 1712637

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $18,799

Year Built

  • Built in 1973

Lot Details

  • 0.73

Home Design

  • Bitumen Roof
  • Vinyl Construction Material

Parking

  • 40 Parking Spaces
  • Open Parking

Additional Features

  • 2-Story Property
  • 0.73 Acre Lot

Community Details

  • Bellingham Subdivision

Listing and Financial Details

  • Tax Lot 33-34
  • Assessor Parcel Number 3802140940550000

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$18,799

Year Built

Built in 1973

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi-Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1973
  • Buyer Agency Compensation: 2%
  • MLS Status: Sold
  • Prev Status: Closed
  • New Construction: No
  • CalculatedSquareFootage: 0
  • Special Features: None

Interior Features

  • Fireplace: No
  • Stories: 2
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0

Exterior Features

  • Roof: Torch Down
  • View: No
  • Waterfront: No
  • Exterior Features: Metal/Vinyl
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 40
  • Open Parking: Yes
  • Total Parking Spaces: 40
  • ParkingUncoveredSpaces: 40

Utilities

  • Sewer: Sewer Connected
  • Heating Yn: Yes
  • Utilities: Sewer Connected, Electric
  • WaterSewerGarbage: 15513

Fee Information

  • Annual Fuel Expense: 605

Schools

  • Junior High Dist: Bellingham

Lot Info

  • Parcel Number: 3802140940550000
  • Lot Size Acres: 0.73
  • Lot Size Sq Ft: 31799
  • Irrigation Water Rights: No
  • ResoLotSizeUnits: SquareFeet
  • ShowMapLink: true
  • MLSLotSizeSource: Whatcom County Assessor
  • LotNumber: 33-34

Green Features

  • Power Production Type: Electric

Rental Info

  • Furnished: Unfurnished
  • GrossRentMultiplier: 14
  • LeasedItems: Washer/Dryer
  • TotalMonthlyIncome: 20575

Multi Family

  • Gross Scheduled Income: 246900
  • Net Operating Income: 181223
  • Number Of Units Total: 16
  • Electric Expense: 605
  • Insurance Expense: 4425
  • Leasable Area: 14725
  • UnitsBelowGrade: false
  • VacancyRate: 2

Tax Info

  • Year: 2019
  • Tax Annual Amount: 18799

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
01/04/2021 01/04/21 Sold $3,317,885 -3.1% $230 / Sq Ft
12/29/2020 12/29/20 Pending -- -- --
12/29/2020 12/29/20 For Sale $3,425,000 -- $238 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • KC Coonc

    Seller's Agent in 2021

    KC Coonc

    Pacific Continental Realty LLC

    (360) 483-8745

    1 in this area

    32 Total Sales

    KC Coonc
    Section Image
  • Dean Ulrich

    Buyer's Agent in 2021

    Dean Ulrich

    Coldwell Banker Bain

    (360) 820-3326

    1 in this area

    17 Total Sales

    Dean Ulrich
    Section Image
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Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 1712637

Northwest Multiple Listing Service (NWMLS)
Washington Whatcom County Bellingham 98225

3435 Redwood Ave, Bellingham, WA

This home is located at 3435 Redwood Ave, Bellingham, WA 98225 since 29 December 2020. This property was built in 1973. 3435 Redwood Ave is a home located in Whatcom County with nearby schools including Alderwood Elementary School, Shuksan Middle School, and Squalicum High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

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Based on information submitted to the MLS GRID

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