Samish Flats | 3613 Consolidation Ave
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Samish Flats 3613 Consolidation Ave
37 Unit Apartment Building $17,000,000 ($459,459/Unit) 5.18% Cap Rate Bellingham, WA 98225
Executive Summary
Location!!! This property is inside the Samish Way Urban Village Plan (Click on linked URL for more information). Built in 2021 Samish Flats luxury apartment homes offer all the modern amenities including w/d in units. Low vacancies can be attributed to the convenient location, near I-5, Western Washington University and local amenities. The 20 lower-level garage spaces offer additional income. Tenants pay all utilities. Approx 5 years left of the 8-year tax abatement, property taxes are currently on land only. Buyer to verify all information. For more information & showings please contact the listing agent. For more info regarding the Opportunity Zone & Urban Village Plan visit the City of Bellingham planning website (URL links attached)
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $17,000,000 | Building Class | B |
| Price Per Unit | $459,459 | Lot Size | 0.54 AC |
| Sale Type | Investment | Building Size | 38,078 SF |
| Cap Rate | 5.18% | Average Occupancy | 99% |
| No. Units | 37 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2021 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid Rise |
| Price | $17,000,000 |
| Price Per Unit | $459,459 |
| Sale Type | Investment |
| Cap Rate | 5.18% |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid Rise |
| Building Class | B |
| Lot Size | 0.54 AC |
| Building Size | 38,078 SF |
| Average Occupancy | 99% |
| No. Stories | 6 |
| Year Built | 2021 |
| Opportunity Zone |
Yes |
Unit Amenities
- Balcony
- Cable Ready
- Dishwasher
- Washer/Dryer
- Carpet
Site Amenities
- Controlled Access
- Recycling
- Bicycle Storage
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 672 |
| 2+2 | 1 | - | 1,143 |
| 3+2 | 35 | - | 920 - 1,245 |
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Walk Score ®
Very Walkable (71)
Bike Score ®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 380331-466145-0000 | Total Assessment | $1,343,100 (2023) |
| Land Assessment | $1,343,100 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
380331-466145-0000
Land Assessment
$1,343,100 (2023)
Improvements Assessment
$0 (2023)
Total Assessment
$1,343,100 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | Commercial (This property is in the very desirable Opportunity Zone! See the attached URL Links for more information.) |
| Commercial (This property is in the very desirable Opportunity Zone! See the attached URL Links for more information.) |
-
Barb Davison -
The Muljat Group
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Samish Flats | 3613 Consolidation Ave
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