10 Unit Apartment Building - Columbia Neighborhood - Bellingham, WA. Single level apartments consisting of SIX 2 Bedroom and FOUR 1 Bedroom Units. Believe it or not, the rents truly are below market value. Current Actual Rent is $9,325 per month. Market rent value should be in the $11,700 - $13,200 per month range. Current owners are out of state and did not want to increase the monthly rent. Laundry generates an additional $110 per month income. Desirably located in a predominately owner occupied neighborhood. Very few apartments in the surrounding. Actual Cap rate is 4.7, with a proforma in the 6-7 Cap range. This is it - act quick. Possible Seller Terms - Owner Contract. Please do not Disturb the Tenants!
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