2002 2008 Cherry Street, Ferndale, WA 98248
- $3,500,000
- 13,972
- SqFt
Listing courtesy of RE/MAX Whatcom County, Inc..
- List Price
- $3,500,000
- Status
- ACTIVE
- MLS#
- 2572813
- Days on Market
- 0
- Style
- 55 - 5-9 Units
- Building Condition
- Very Good
- Finished SqFt
- 13,972
- Area Total SqFt
- 13972
- Annual Tax Ammount
- 24915
- Lot Size (sq ft)
- 11,761
- Sewer
- Sewer Connected
Property Description
ONE-OF-A-KIND BOARDWALK/RIVERFRONT 8-PLEX! Rare opportunity to own two separate 4-plexes offered together as an exceptional 8-unit multifamily property in the heart of Ferndale. Centrally located alongside the Boardwalk and river, next to the park and close to restaurants, schools, shopping, and other amenities. Each spacious unit is approximately 1,800 sq. ft. with 4 bedrooms and 3 bathrooms, plus large balconies/decks offering beautiful river and mountain views. Additional features include easy-care laminate flooring, walk-in closets and covered parking beneath the units. A STANDOUT FEATURE IS THE ATTACHED MOTHER IN LAW SUITE IN EVERY UNIT, CONNECTED BY DOUBLE DOORS. This unique and versatile space offers exceptional flexibility for multigenerational living, guests, a home office or potential additional income. With spacious floor plans, covered parking and an incredible riverfront setting, this property offers far more than a traditional multifamily investment. Two 4-plexes, eight spacious units and a truly one-of-a-kind boardwalk/riverfront location make this a rare Ferndale opportunity!
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Additional Information
- List Date
- 2026-08-25 04:28:11
- Community
- Ferndale
- Net Operating Income
- $231,375
- Gross Adjusted Income
- $298,970
- Gross Scheduled Income
- $305,072
- Total Monthly Income
- $22,880
- Insurance Expenses
- $12,119
- Water/Sewer/Garbage Expenses
- $17,768
- Gross Rent Multiplier
- 11.47
- Total Expenses
- $67,569
- Cap Rate
- 6.61
- Vacancy Rate
- 2
- Total Number of Units
- 6
- Unit Name
- 2002 2008
- Potential Terms
- Cash, Conventional, FHA
- Year Built
- 2018
- View
- River
- Roof
- Composition
- Site Features
- Cable TV, Deck, Electric Car Charging, High Speed Internet, Patio
- Electric Expenses
- 12767
- Energy Source
- Electric
- School District
- Ferndale
- High School
- Ferndale High
- Total Monthly Income
- $22,880
- Gross Scheduled Income
- $305,072
- Vacancy Rate
- 2
- Gross Adjusted Income
- $298,970
- Tax Year
- 2025
- Insurance Expense
- $12,119
- W/S/G Expenses
- $17,768
- Total Expenses
- $67,569
- Net Operating Income
- $231,375
- Gross Rent Multiplier
- 11.47
- Cap Rate
- 6.61
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.