Listed by Windermere Real Estate Whatcom
$15,495,000
$4M PRICE DROP

820 32nd St Bellingham, WA 98225

Happy Valley Neighborhood

Estimated payment $86,200/month

Total Views 16,546
114 Beds
142 Baths
51,316 Sq Ft
$302 Price per Sq Ft

Highlights

  • City View
  • 1.93 Acre Lot
  • No HOA
  • Fairhaven Middle School Rated A-
  • Deck
  • Thermal Windows

About This Home

This well-maintained 57-unit apartment/townhouse complex (5 bldg) is in a high demand area, 1 mile from WWU. Strong reliable rental history. Roofs replaced and exterior painted last 3 years; windows new with dbl pane. Units remodeled (countertops, cabinet faces, flooring fixtures, upgraded appliances). Full size washer/dryer in each unit. Rare opportunity:land is zoned for 27 additional units. 2 minutes from I/5, Historic Fairhaven, excellent shopping, and next to Joe’s Garden. All units have 2 bedrooms (53 – 850 sq ft units; 4 – 1,059 sq ft units; 4 – ADA features). Baths: 32 apts with 1 – 3⁄4 bath; 21 townhouses with 1 – 1⁄2 bath; 4 apts with 1 large bath. Bellingham has high growth but limited new supply. Excellent income producing property.

Listing Agent

Kevin Geraghty

Windermere Real Estate Whatcom License #20363 Listed on: 02/26/2025

Windermere Real Estate Whatcom

Source: Northwest Multiple Listing Service (NWMLS)

MLS#: 2333623

Northwest Multiple Listing Service (NWMLS)

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $52,463

Year Built

  • Built in 1988

Lot Details

  • 1.93 Acre Lot
  • Lot Dimensions are 490x200
  • Partially Fenced Property
  • Property is in very good condition

Property Views

  • City
  • Territorial

Home Design

  • Poured Concrete
  • Composition Roof
  • Wood Siding
  • Cement Board or Planked

Interior Spaces

  • 51,316 Sq Ft Home
  • 3-Story Property
  • Thermal Windows

Flooring

  • Carpet
  • Vinyl

Bedrooms and Bathrooms

  • 114 Bedrooms
  • 142 Bathrooms

Parking

  • 90 Parking Spaces
  • Open Parking

Outdoor Features

  • Deck
  • Patio

Schools

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

Utilities

  • Baseboard Heating
  • High Speed Internet
  • Cable TV Available

Community Details

  • No Home Owners Association
  • Sehome Court Condos
  • Sehome Subdivision

Listing and Financial Details

  • Assessor Parcel Number 370306236351

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$52,463

Year Built

Built in 1988

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Multi Family
  • StyleCode: 56 - 10+ Units
  • Year Built: 1988
  • MLS Status: Active
  • Prev Status: Active
  • Building Name: Sehome Court
  • New Construction: No
  • CalculatedSquareFootage: 51316
  • EffectiveYearBuiltSource: Public Records
  • Special Features: VirtualTour

Interior Features

  • Possible Use: Multi-Family
  • Total Bedrooms: 114
  • Fireplace: No
  • Flooring: Vinyl, Carpet
  • Stories: 3
  • SquareFootageFinished: 0
  • SquareFootageUnfinished: 0
  • BathsFullUpper: 0
  • BathsHalfUpper: 0
  • BathsThreeQuarterUpper: 0
  • BedroomsUpper: 0
  • Amenities: See Remarks,Thermal Windows

Exterior Features

  • Roof: Composition
  • View: City, Territorial
  • Lot Features: Curbs, Paved, Sidewalk
  • View: Yes
  • Waterfront: No
  • Construction Type: Cement Plank, Wood
  • Exterior Features: Cement Planked, Wood
  • Foundation Details: Poured Concrete
  • Property Condition: Very Good
  • Structure Type: Multi Family

Garage/Parking

  • Carport Y N: No
  • Open Parking Spaces: 90
  • Open Parking: Yes
  • Total Parking Spaces: 90
  • ParkingUncoveredSpaces: 90

Utilities

  • Sewer: Sewer Connected
  • Water Source: Public
  • Security: Partially Fenced
  • Cooling: None
  • Cooling Y N: No
  • Heating: Baseboard
  • Heating Yn: Yes
  • PowerCompany: Puget Sound Energy
  • SewerCompany: City of Bellingham
  • WaterCompany: City of Bellingham
  • CableConnected: Xfinity
  • InternetConnected: Xfinity
  • WaterSewerGarbage: 40363

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

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

Lot Info

  • Parcel Number: 370306236351
  • Lot Size Acres: 1.93
  • Lot Size: 490x200
  • Lot Size Sq Ft: 84071
  • Zoning Description: Multi-Family
  • Irrigation Water Rights: No
  • ShowMapLink: true
  • SiteFeatures: Cable TV,Deck,Fenced-Partially,High Speed Internet,Patio
  • MLSLotSizeSource: assessor
  • MLSSquareFootageSource: assessor
  • ZoningJurisdiction: City

Green Features

  • Efficiency: Thermal Windows
  • Power Production Type: Electric

Rental Info

  • GrossRentMultiplier: 19.6
  • LeasedItems: None
  • TotalMonthlyIncome: 81607

Multi Family

  • Gross Scheduled Income: 979284
  • Net Operating Income: 562129
  • Number Of Units Total: 57
  • Electric Expense: 1716
  • Insurance Expense: 22184
  • Leasable Area: 50956
  • EnergySource: Electric
  • UnitsInBuildingTotal: 57
  • UnitsBelowGrade: false
  • VacancyRate: 1

Tax Info

  • Year: 2024
  • Tax Annual Amount: 52463

MLS Schools

  • Elementary School: Happy Vly Elem

Map

Range of Values:

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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
09/15/2025 09/15/25 Price Changed $15,495,000 -2.9% $302 / Sq Ft
08/11/2025 08/11/25 Price Changed $15,950,000 -5.9% $311 / Sq Ft
07/21/2025 07/21/25 Price Changed $16,950,000 -5.6% $330 / Sq Ft
05/29/2025 05/29/25 Price Changed $17,950,000 -5.5% $350 / Sq Ft
02/26/2025 02/26/25 For Sale $19,000,888 -- $370 / Sq Ft
Source: Northwest Multiple Listing Service (NWMLS)

Source: Northwest Multiple Listing Service (NWMLS)

MLS Number: 2333623

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

820 32nd St, Bellingham, WA

This home is located at 820 32nd St, Bellingham, WA 98225 and is currently priced at $15,495,000, approximately $301 per square foot. This property was built in 1988. 820 32nd St is a home located in Whatcom County with nearby schools including Happy Valley Elementary School, Fairhaven Middle School, and Sehome 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.

Northwest Multiple Listing Service (NWMLS) 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. Listing information is provided by the Northwest Multiple Listing Service (NWMLS). Property information is based on available data that may include MLS information, county records, and other sources. Listings marked with the 3 tree icon and provided by NWMLS. All properties are subject to prior sale or withdrawal. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, that the data is deemed reliable but is not guaranteed by MLS GRID. ©2025 NWMLS.
Based on information submitted to the MLS GRID

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Kevin Geraghty
Listing Agent
Kevin Geraghty
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Windermere Real Estate Whatcom
(360) 587-0322