Building Details

Year Built 1955

Tenancy Multi

Listing Agency: Roma Management LLC

Listed By: Rebecca A. Murphy Show Phone

Source: Skylineproperties

Added: May 24 Changed: Oct 29 Last Checked: Oct 30 at 5:54PM

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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 Roma Management LLC

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Investment Insights

Based on property information with market context.

This quadplex contains four two-bedroom, one-bathroom residences, with each unit offering a large private backyard and two parking spaces. One unit is vacant and identified as ready for renovation, while the remaining three units provide rental income. The layout supports both residential occupancy and an owner-occupant arrangement with additional income from the other units.

The property is located at 124 Mitchell St in Sumas, Washington. Sumas Elementary, Edaleens Ice Cream, and a grocery store are within walking distance, with the grocery store located around the corner. The availability of one vacant unit provides a defined renovation component within the existing four-unit configuration.

Key Highlights

• Four 2‑bedroom, 1‑bathroom units
• Each unit includes a large private backyard
• Two parking spaces provided per unit

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$35,175

Cap Rate

4.14%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$703,500 $703.5K

Cap Rate 7%

$502,500 $502.5K

Cap Rate 9%

$390,833 $390.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,024 SF

Gross rent

$52.6K $17.40/SF

− Vacancy

−$2.4K −$0.78/SF

EGI

$50.2K $16.62/SF

− OpEx

−$15.1K −$4.99/SF

NOI

$35.2K $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%

$703,500

Cap Rate 7%

$502,500

Cap Rate 9%

$390,833

Alternative Uses

Best Use

Multifamily LT 5

$502.5K

$439.7K – $586.3K (±1% cap)

NOI $35,175 @ 7.0% cap · market cap 4.14%

Second Best

Apartment 5plus

$465.3K

$407.2K – $542.9K (±1% cap)

NOI $32,572 @ 7.0% cap · market cap 3.83%

Theoretical Best

Office A

$713.4K

$624.2K – $832.3K (±1% cap)

NOI $49,937 @ 7.0% cap · market cap 5.87%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Lease Details

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

198

Businesses Nearby

Explore this area Business Placement

Demographics for 98295, WA

2,899

Population

1,181

Households

2.5

Avg Household Size

35

Median Age

18%

College-Educated

88%

High-School Grad

31.3 sq mi

ZIP Area

93

Density / Sq Mi

$96,337

Median Household Income

$52,830

Median Earnings

$1,341

Median Rent

$408,000

Median Home Value

Market

Vacancy Rate% for Multifamily in West region

7% 2022

7.8% 2023

8.6% 2024

8.6% 2025

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$2,850,000

14,196 SF

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Modern Multifamily Investment Opportunity

1205 Boon St, Sumas, WA 98295

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Frequently Asked Questions

What type of property is this?

Quadplex - Each residence includes a private backyard and dedicated on-site parking.

Where is this quadplex located?

The property is located at 124 Mitchell Sumas, WA.

What is the asking price?

The asking price for this property is $850,000.

What are key features of this property?

This property features: Four 2‑bedroom, 1‑bathroom units; Each unit includes a large private backyard; Two parking spaces provided per unit