17-Unit Apartment
1252 Nevada Street, Bellingham, WA 98226
For Sale
$2,900,000
The property offers a mix of one- and two-bedroom apartments near transit, grocery, school, park and pool amenities.
Property Size12,768 SF
Price / SF$227.13
Days on Market157
Property Features for 1252 Nevada Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Site & Location
Road Access
Public Transit
Units
Unit Mix
Multifamily Units
Additional Details
Tenant in Place
Taxes and HOA fees
Annual Taxes
Amenities
common laundry room
Building Details
Building Size
Year Built
Listing Agency:
Windermere RE Whatcom, Inc.
Listed By:
Jeff Johnson
(360) 734-7500
Source:
Rennie
Added: Jun 5
Changed: Nov 8
Last Checked: Nov 7 at 2:13PM
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 Windermere RE Whatcom, Inc.
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Investment Insights
Based on property information with market context.
Built in 1979, this 12,768-square-foot apartment property contains 17 units: 12 one-bedroom apartments and five two-bedroom apartments. Recent work includes a new roof and gutters in 2026. A common laundry room has new washer and dryer units. Third-floor apartments are accessed from the ground-level parking lot.
The property is on Nevada Street near Lakeway, within walking distance of a bus line, Whole Foods, Carl Cozier Elementary School, a city park and a pool complex. Parking includes 9 uncovered spaces on the east side, 20 uncovered ground-floor spaces and 7 covered spaces.
The property is on Nevada Street near Lakeway, within walking distance of a bus line, Whole Foods, Carl Cozier Elementary School, a city park and a pool complex. Parking includes 9 uncovered spaces on the east side, 20 uncovered ground-floor spaces and 7 covered spaces.
Key Highlights
- 17 apartments: 12 one‑bedroom units and 5 two‑bedroom units
- 12,768 square feet; built in 1979
- New roof and gutters in 2026
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$137,527
Cap Rate
4.74%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,750,540
$2.8M
Cap Rate 7%
$1,964,671
$2.0M
Cap Rate 9%
$1,528,078
$1.5M
Market Conditions
NOI Build-Up for 12,768 SF
Gross rent
$260.5K $20.40/SF
− Vacancy
−$10.4K −$0.82/SF
EGI
$250.0K $19.58/SF
− OpEx
−$112.5K −$8.81/SF
NOI
$137.5K $10.77/SF
Area
Whatcom County, WA
Vacancy
4.00%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,750,540
Cap Rate 7%
$1,964,671
Cap Rate 9%
$1,528,078
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.72M – $2.29M
NOI $137,527 @ 7.0% cap · market cap 4.74%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.01M
$2.64M – $3.51M
NOI $210,845 @ 7.0% cap · market cap 7.27%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
17
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
941
Businesses Nearby
Explore this area
Business Placement
Demographics for 98226, WA
47,011
Population
20,609
Households
2.3
Avg Household Size
40
Median Age
40%
College-Educated
95%
High-School Grad
105.8 sq mi
ZIP Area
444
Density / Sq Mi
$79,684
Median Household Income
$45,337
Median Earnings
$1,557
Median Rent
$568,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - The property offers a mix of one- and two-bedroom apartments near transit, grocery, school, park and pool amenities.
Where is this apartment building located?
The property is located at 1252 Nevada Street Bellingham, WA.
What is the asking price?
The asking price for this property is $2,900,000.
What are key features of this property?
This property features: 17 apartments: 12 one‑bedroom units and 5 two‑bedroom units; 12,768 square feet; built in 1979; New roof and gutters in 2026
