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    1011 21St St Bellingham, WA 98225

    For Sale
    $8,400,000

    19-unit multifamily property near Western Washington University.

    Property size:
    25,265 SF

    Property Features for 1011 21St St

    General Information

    Size
    25,265 SF

    Building Details

    Year built
    1991

    Source: Cory Walken Agent Cory Walken

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Multifamily Property Near WWU Campus

    This multifamily property, located in the Happy Valley area of Bellingham, features 19 units with a mix of large 3- and 4-bedroom layouts. The property is situated just three blocks from the Western Washington University (WWU) campus. The location offers convenient access to the Fairhaven Historic District, Boulevard Park, and the Bellingham Farmers Market, as well as nearby trails, parks, and waterfront areas. The property is well-maintained and in excellent condition with historically low vacancy. Potential exists to boost income through revenue streams such as RUBS, coin-op laundry, and covered parking fees. The property offers assumable debt at 3.1% for 3+ years. The property size is 25,265 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Hair Salon Spa & Massage Nail Salon Clothing Store Building Supply Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Bellingham
    County
    Whatcom
    State
    Washington
    Longitude
    -122.489905
    Latitude
    48.723385

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    FAQs

    What type of property is this?
    Apartment building - 19-unit multifamily property near Western Washington University.
    Where is this apartment building located?
    The property is located at 1011 21St St Bellingham, WA.
    What is the asking price?
    The asking price for this property is $8,400,000.
    What are key features of this property?
    This property features: - Assumable debt at 3.1% provides a +5% cash-on-cash return in year 1.; - Located just two blocks from Western Washington University (WWU) campus.; - Potential to boost income by 11.8% in year 1 by implementing RUBS, laundry, and parking fees.
    (360) 319-1649
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    1011 21St St Bellingham, WA 98225
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    Bellingham, WA 98225
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1011 21St St Bellingham, WA 98225
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