Renovated Duplex with Detached
1000 Jersey Street A & B, Bellingham, WA 98225
For Sale
$849,000
Pending
A legal two-unit property pairs distinct living spaces with a separate studio and updated building systems.
Property Size2,622 SF
Days on Market26
Property Features for 1000 Jersey Street A & B
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
private view deck
in-unit laundry
deck with pergola and motorized shades
hot tub
fenced yard
solar panels
EV charging
Building Details
Year Built
Year Renovated
Buildings
Listing Agency:
Lake & Company
(206) 527-1777
Listed By:
Robert A. Macdonald · License #111406
(206) 354-5663
Source:
Armadahomes
Added: Oct 14
Changed: Nov 8
Last Checked: Nov 7 at 7:59PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Lake & Company
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Investment Insights
Based on property information with market context.
Legally established as a duplex, the property includes two residences and a detached studio. The upper unit spans two levels with two bedrooms, one bath, a private deck, and in-unit laundry. The main-floor residence offers two bedrooms, two baths, and 1,128 SF, along with its own laundry. A separate 533 SF studio has a three-quarter bath. The property was remodeled in 2023, with updates that include kitchens, baths, flooring, windows, siding, roof, and skylights. Heating and cooling are provided by a six-zone mini-split system; solar panels generate net-neutral electricity, and EV charging is installed.
Outdoor features include a fenced yard, a deck with pergola and motorized shades and roof, and a hot tub. The property has territorial views and views of Bellingham Bay. Sehome Hill Arboretum trails are nearby, with walking access to WWU and downtown.
Outdoor features include a fenced yard, a deck with pergola and motorized shades and roof, and a hot tub. The property has territorial views and views of Bellingham Bay. Sehome Hill Arboretum trails are nearby, with walking access to WWU and downtown.
Key Highlights
- Legally recognized duplex with a detached 533 SF studio and three‑quarter bath
- Main‑floor residence has 1,128 SF, two bedrooms, and two baths
- Upper residence is a two‑level, two‑bedroom, one‑bath unit with a private deck
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,499
Cap Rate
3.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,980
$610.0K
Cap Rate 7%
$435,700
$435.7K
Cap Rate 9%
$338,878
$338.9K
Market Conditions
NOI Build-Up for 2,622 SF
Gross rent
$45.6K $17.40/SF
− Vacancy
−$2.1K −$0.78/SF
EGI
$43.6K $16.62/SF
− OpEx
−$13.1K −$4.99/SF
NOI
$30.5K $11.63/SF
Area
Whatcom County, WA
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$609,980
Cap Rate 7%
$435,700
Cap Rate 9%
$338,878
Alternative Uses
Best Use
Multifamily LT 5
$435.7K
$381.2K – $508.3K
NOI $30,499 @ 7.0% cap · market cap 3.59%
Second Best
Apartment 5plus
$403.5K
$353.0K – $470.7K
NOI $28,242 @ 7.0% cap · market cap 3.33%
Theoretical Best
Office A
$618.5K
$541.2K – $721.6K
NOI $43,298 @ 7.0% cap · market cap 5.10%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,915
Businesses Nearby
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Business Placement
Demographics for 98225, WA
49,078
Population
24,202
Households
2
Avg Household Size
31
Median Age
48%
College-Educated
96%
High-School Grad
12.6 sq mi
ZIP Area
3,895
Density / Sq Mi
$62,220
Median Household Income
$33,122
Median Earnings
$1,430
Median Rent
$588,800
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - A legal two-unit property pairs distinct living spaces with a separate studio and updated building systems.
Where is this duplex located?
The property is located at 1000 Jersey Street A & B Bellingham, WA.
What is the asking price?
The asking price for this property is $849,000.
What are key features of this property?
This property features: Legally recognized duplex with a detached 533 SF studio and three‑quarter bath; Main‑floor residence has 1,128 SF, two bedrooms, and two baths; Upper residence is a two‑level, two‑bedroom, one‑bath unit with a private deck
