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Description
Woburn Apartments is a 20-unit, 2-story complex located in the heart of Bellingham, WA. The offering consists of classic and renovated apartment homes comprised of 14 two- bedroom and 6 one-bedroom floorplans that include in-unit washer and dryers, fireplaces, balconies and patios, and vinyl flooring. In place 5.70% Cap Rate with additional upside opportunities with full implementation of utility bill back brings it to a market Cap Rate of 6.34%. The rental survey demonstrates market rents of $1,800 for the 2 bedrooms, with potential to push further with additional upgrades. The building itself is situated at the center of a picturesque area that offers a rich variety of recreational, cultural, educational, and economic activities.
Location
Listing Agent: Joseph Kinkopf Courtesy of: Westlake Associates, Inc. The database information herein is provided from the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. © 2022 NWMLS. Updated: 4th February, 2023 11:12 AM (UTC)