Crestwood Manor | 2724-2728 W Maplewood Ave
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Crestwood Manor 2724-2728 W Maplewood Ave
51 Unit Apartment Building $9,180,000 ($180,000/Unit) 6.72% Cap Rate Bellingham, WA 98225
Investment Highlights
- Stable Tenancy
- Token Operated Laundry Facilities
- 3 Bed/ 1 Bath Home on Property for use as Onsite Manager's Office/Residence
- Prime Location
- Expansive Lot
Executive Summary
Bellingham 50 Apartment units plus a Large Office. Solid rental mix with 37 Two Bedroom, and 13 One Bedroom Units. 50% of the tenants have maintained occupancy for 5+ years. The buildings were constructed in phases ranging from 1961-1991. Building Sizes: 6 Unit, 14 Unit, 14 Unit, 16 Unit and Office. (50 Total units) 2 Coin-Op "tokens" Laundry Rooms, Building 2724 has W/D hookups. Crestwood Manor has been family owned and operated for 50+ years with the emphasis on clean, affordable and well maintained housing. Room for financial growth: bring rents to current market value and or updating.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $9,180,000 | Property Subtype | Apartment |
| Price Per Unit | $180,000 | Apartment Style | Garden |
| Sale Type | Investment | Building Class | B |
| Cap Rate | 6.72% | Lot Size | 1.98 AC |
| Gross Rent Multiplier | 11.14 | Building Size | 42,358 SF |
| No. Units | 51 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1980 |
| Price | $9,180,000 |
| Price Per Unit | $180,000 |
| Sale Type | Investment |
| Cap Rate | 6.72% |
| Gross Rent Multiplier | 11.14 |
| No. Units | 51 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 1.98 AC |
| Building Size | 42,358 SF |
| No. Stories | 2 |
| Year Built | 1980 |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Washer/Dryer Hookup
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Wi-Fi
- Double Pane Windows
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 13 | $1,375 | 610 - 830 |
| 2+1 | 37 | $1,400 | 830 - 960 |
| 3+1 | 1 | - | 1,032 |
Bike Score ®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 380213-147075-0000 | Total Assessment | $4,244,962 (2023) |
| Land Assessment | $1,275,000 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $2,969,962 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
380213-147075-0000
Land Assessment
$1,275,000 (2023)
Improvements Assessment
$2,969,962 (2023)
Total Assessment
$4,244,962 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | RM2.5 (High Density Multi Family) |
| RM2.5 (High Density Multi Family) |
-
Keith Cook -
RE/MAX Whatcom County, Inc.
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Crestwood Manor | 2724-2728 W Maplewood Ave
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