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. So not lots of apartments in the surrounding area. Actual Cap rate is 5.5, with a proforma in the 7-8 Cap range. This is it - act quick. Possible Seller Terms - Owner Contract. Please do not Disturb the Tenants!
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