1313 State StBellingham, WA 98225

This exceptional 0.16-acre property at 1313 N State Street, Bellingham, WA, presents a unique investment opportunity. Priced at $1,350,000, this historic building sits in the heart of downtown Bellingham, enjoying high foot traffic and proximity to popular local businesses. Currently housing a tenant interested in expansion, the property offers significant upside potential. The building features two unfinished upper floors, complete with approved plans and a transferable tenant improvement (TI) permit from the City of Bellingham for conversion into an eight-unit apartment complex. This streamlined process significantly reduces the time and cost associated with obtaining necessary approvals. The ground floor boasts a fully equipped commercial kitchen, ready for immediate use or adaptation to suit a variety of businesses. The building's prime location and the potential for multi-family conversion make this a rare find in the thriving Bellingham market. This is a chance to acquire a historic property with immediate income potential and a clear path to substantial future returns. The existing tenant's desire to expand provides an immediate revenue stream while the approved plans for apartment conversion offer a lucrative long-term strategy. Don't miss this opportunity to own a piece of Bellingham's vibrant downtown.