NOT LISTED FOR SALE

5601 3rd Ave Ferndale, WA 98248

Studio
-- Bath
13,952 Sq Ft
0.77 Acres

Last Sold March 27, 2015

Last sale price $850,000 $61 Per Sq Ft

160 Days on Market

Highlights

  • Territorial View
  • High Speed Internet
  • 5-minute walk to Pioneer Park
  • Corner Lot
  • Wall to Wall Carpet

About This Home

As of March 2015

Many recent improvements top to bottom. 20 units decrease your vacancy risks. The units are a good mix of 1, 2 and 3 bedroom in a high rental demand area with demand increasing due to the growth of Ferndale and the surrounding area including the ports and refineries. A strong history of occupancy levels and opportunities to increase the net income through property management options & potential expansion on site by adding units or mini storage rental. 6.22 CAP rate reflects all prop. mngt. fees

Last Agent to Sell the Property

Eric Snow

RE/MAX Whatcom County, Inc. License #49490 Listed on: 09/18/2014

RE/MAX Whatcom County, Inc.

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: NWM697379

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Year Built

  • Built in 1971

Lot Details

  • Street terminates at a dead end
  • Corner Lot

Home Design

  • Poured Concrete
  • Built-Up Roof
  • Bitumen Roof
  • Stone

Interior Spaces

  • 2-Story Property
  • Territorial Views

Flooring

  • Wall to Wall Carpet
  • Vinyl

Utilities

  • Septic System
  • High Speed Internet
  • Cable TV Available

Community Details

  • 20 Units
  • Ferndale Community

Listing and Financial Details

  • Assessor Parcel Number 3902290254480000

Property Details

Home Type

Multi-Family

Year Built

Built in 1971

Lot Details

0.77 Acres

Listing Details

  • Property Type: Multifamily
  • Style: 56 - 10+ Units
  • Year Built: 1971
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Floor Covering: Vinyl, Wall To Wall Carpet
  • Estimated Sq Ft: 13952

Exterior Features

  • Exterior: Stone
  • Foundation: Poured Concrete
  • Roof: Built-Up, Torch Down
  • View: Territorial

Garage/Parking

  • Numberof Uncovered Spaces: 14
  • Total Numberof Parking Spaces: 14

Utilities

  • Electrical Expenses: 1475
  • Water/Sewer/Garbage: 14608
  • Heating And Cooling: Baseboard
  • Power Company: PSE
  • Sewer: Septic
  • Sewer Company: City of Ferdale
  • Water Company: City of Ferndale
  • Water Source: Public

Condo/Co-op/Association

  • Numberof Units in Building: 20
  • Community Name: Ferndale
  • Project: Amended plat of Ferndale
  • Amenities: Coin Op Laundry

Schools

  • School District: FRN

Lot Info

  • Lot Number: 11-20
  • General Zoning Classification: Multi-Family
  • Lot Details: Alley, Corner Lot, Curbs, Dead End Street, Paved Street
  • Lot Sq Ft: 33541
  • Parcel Number: 3902290254480000

Multi Family

  • Gross Adjusted Income: 1533114
  • Gross Rent Multiplier: 8
  • Insurance Expenses: 9500
  • Other Expenses: 35753
  • Total Expenses: 72533
  • Total Monthly Income: 12905
  • Total Expenses: 72533
  • Vacancy Rate: 1

Tax Info

  • Tax Amount: 11197
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area

Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
03/27/2015 03/27/15 Sold $850,000 -34.6% $61 / Sq Ft
02/27/2015 02/27/15 Pending -- -- --
09/19/2014 09/19/14 For Sale $1,299,000 -- $93 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

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
2025 $16,574 $2,211,599 $773,750 $1,437,849
2024 $15,373 $2,211,599 $773,750 $1,437,849
2023 $15,373 $2,211,599 $773,750 $1,437,849
2022 $12,368 $1,671,673 $563,010 $1,108,663
2021 $10,850 $1,381,555 $465,300 $916,255
2020 $10,496 $1,114,151 $375,240 $738,911
2019 $8,112 $969,671 $326,580 $643,091
2018 $10,795 $890,751 $300,000 $590,751
2017 $9,524 $890,751 $300,000 $590,751
2016 -- $850,000 $318,000 $532,000
2015 $10,953 $1,015,480 $318,000 $697,480
2014 -- $958,000 $300,000 $658,000
2013 -- $958,000 $300,000 $658,000
Source: Public Records

Agents Affiliated with this Home

  • Section Image
See All Agents

Map

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: NWM697379

Northwest Multiple Listing Service (NWMLS)
Your Personal Tour Guide

Ask me questions while you tour the home.