$ 875,000
-
$875,000
Price -
5
Bed -
2
Bath -
1,272
SqFt
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About the Listing 9947 - 57320,111197
Located in a desirable area of Bellingham, this income-producing property offers strong current cash flow with exceptional long-term development potential. The property includes a recently updated 3-bedroom, 1-bath home renting for $2,500/month and a fully remodeled 2-bedroom, 1-bath apartment bringing $1,600/month. Tenants pay all utilities, and both units feature fully fenced yards and ample off-street parking, creating a low-maintenance investment with a cap rate exceeding 5% at current rents. An unfinished space ready to be built out into a studio apartment provides an immediate value-add opportunity to increase income. The real upside is the development potential. Zoning aligned with the city’s Middle Housing Ordinance allows for 16+ units, ideal for clusters of fourplex-style buildings. With improved street frontage and alley access, the property offers flexibility for phased redevelopment or a larger future project. The large grassy area north of the home may even provide the opportunity to subdivide, build another home, or pursue a smaller development project down the road. Located just minutes from Whatcom Falls Park and the Interurban Trail, the location supports strong rental demand from residents who value Bellingham’s outdoor lifestyle. Hold for income, add a third unit, subdivide, or plan future redevelopment—this is an investment with immediate performance and long-term upside.
Listing Highlights
Interior Details
- Bedrooms: 5
- Bathrooms: 2 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Ceramic Tile,Softwood,Vinyl,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City of Bellingham
Exterior Details
- Lot Description: Alley,Curbs,Paved,Sidewalk,Fenced-Fully,High Speed Internet,Outbuildings,Patio
- Garage Capacity: N/A
- Lot Dimensions: 120x126x120x127
- Roof: Composition
- Others: Wood,Wood Products,Updated/Remodeled
- Sewer: City of Bellingham
Financial Details
- Tax Amount: $4,804
- Taxes w/Assessments: N/A
- Tax/Property ID: 3803295044900000
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
2124 Woburn St Bellingham, WA 98229
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