1955 Eaton Avenue, Ferndale, WA 98248
- $1,550,000
Listing courtesy of Muljat Group.
- List Price
- $1,550,000
- Status
- ACTIVE
- MLS#
- 2572692
- Days on Market
- 0
- Annual Tax Ammount
- 11958
Property Description
9-Unit Multifamily Investment property with 6.3% Cap Rate. This income opportunity comprised of two well-maintained, adjacent properties in a great investment area of Ferndale: a 6-unit building at 1955 Eaton St and a triplex at 5825 Portal. All 9 units are currently occupied, with a strong base of long-term renters providing stable, in-place income, and the property sits outside the flood plain. The unit mix includes 6 three-bedroom, one-bath units, 2 two-bedroom, one-bath units, and 1 one-bedroom, one-bath unit, with rents ranging from $1,300 to $1,700 per month. The location is minutes from downtown shopping and restaurants, with easy access to parks, schools, freeway and the bus line. Highlights include on-site laundry, ample parking, an enclosed courtyard that adds a layer or privacy, and a new roof installed in 2025 on the triplex unit. The property is zoned RM High Density, offering potential upside for additional units (buyer to verify with the city). With a 6.2% cap rate, consistent occupancy, and a strong location in a growing investment area, this is a solid addition to any income portfolio. Buyer to verify all information, including zoning potential, square footage, and income/expense details.
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Additional Information
- Community
- Ferndale
- Style
- 61 - Comm Bldg Ovr 10K
- Year Built
- 1969
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Driving Directions
- GPS
- Electric Expenses
- 1430
- Other Expenses
- 23238
- Net Operating Income
- $97,113
- Gross Adjusted Income
- $160,840
- Gross Scheduled Income
- $160,500
- Water/Sewer/Garbage Expenses
- $19,449
- Cap Rate
- 6
- Total Expenses
- $63,727
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.