Historic Downtown Apartment
201 N Commercial St Bellingham, WA 98225
201 N Commercial St, Bellingham, WA, 98225
$2,250,000
For Sale
$2,250,000
Two-story, sixteen-unit apartment community in downtown Bellingham.
Days on Market107
Property Features for 201 N Commercial St
General Information
- Standard status
- Active
- Property subtype
- Multifamily
Listing agency
Marcus & Millichap, Inc.
(206) 826-5731
Listed by
Zachary Mazzuca · License #License(s): WA: 22026573
(206) 826-5731
Source
Marcusmillichap
Added: Apr 8 Updated: Jul 10 at 1:15PM Checked: Jul 23 at 2:40AM
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 Marcus & Millichap, Inc.
Investment Insights
Based on property information with market context.
The Avalon, originally constructed between 1900 and 1906, is a two-story apartment community with sixteen units located in downtown Bellingham. The building was initially designed as ten large flats and was described as the most modern and leading fashionable apartment house in the city. The property features nine-foot ceilings in all units and ample natural light through large windows. The original fir siding is in excellent condition, adding to the building's historic charm. The unit mix includes two studios of approximately 400 square feet, eight one-bedroom units averaging approximately 600 square feet, and six two-bedroom units averaging approximately 930 square feet. All units retain their original trim, and many have original fir flooring that has been repainted. Some units have been upgraded with baseboard heat, and all units have radiator heat served by a steam boiler in the basement. The electrical system features Square D electrical panels, and there is no known knob-and-tube wiring. Plumbing has been partially updated. The property offers a going-in return of 6.9% with the opportunity to achieve well north of a 7% pro forma return with normalized expenses.
Key Highlights
- Excellent price‑per‑unit ($146,875) and price‑per‑square‑foot ($210) metrics.
- Strong going‑in return of 6.9% with potential to exceed 7% pro forma.
- Historic building (built 1900‑1906) with original trim and some original fir flooring.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
The Avalon Apartments
Apartment Building
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Two-story, sixteen-unit apartment community in downtown Bellingham.
Where is this apartment building located?
The property is located at 201 N Commercial St Bellingham, WA.
What is the asking price?
The asking price for this property is $2,250,000.
What are key features of this property?
This property features: Excellent price‑per‑unit ($146,875) and price‑per‑square‑foot ($210) metrics.; Strong going‑in return of 6.9% with potential to exceed 7% pro forma.; **Historic building (built 1900‑1906) with original trim and some original fir flooring.**
