Fourplex With Bay-View
1408 G Bellingham, WA 98225
For Sale
$915,000
Well-maintained fourplex with four 1-bedroom, 1-bath units, on-site parking, and a community laundry room.
Property Size2,352 SF
Price / SF$389.03
Days on Market76
Property Features for 1408 G
General Information
Standard status
Active
Size
2,352 SF
Property subtype
Multi-family
Building Details
Year Built
1980
Listing Agency:
Bellwether Real Estate
Listed By:
Renae Ingraham
(425) 205-2135
Source:
Skylineproperties
Added: May 16
Changed: Jul 28
Last Checked: Jul 28 at 10:20PM
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 Bellwether Real Estate
Investment Insights
Based on property information with market context.
This well-maintained fourplex includes four 1-bedroom, 1-bath units, and each unit offers views of Bellingham Bay. The property features a newer roof, a dedicated on-site parking lot with off-street parking, a community laundry room, and a dedicated storage locker for each unit.
Located in Bellingham’s Old Town District waterfront area and the Lettered Streets neighborhood, the property sits near downtown Bellingham, Western Washington University, the waterfront, shopping, dining, parks, and public transportation.
As a residential income property, it is configured as four separate one-bedroom units within a single building.
Located in Bellingham’s Old Town District waterfront area and the Lettered Streets neighborhood, the property sits near downtown Bellingham, Western Washington University, the waterfront, shopping, dining, parks, and public transportation.
As a residential income property, it is configured as four separate one-bedroom units within a single building.
Key Highlights
- Well‑maintained 4‑plex built in 1980 with four 1‑bedroom, 1‑bath units
- Each unit offers views of Bellingham Bay
- On‑site parking lot with ample off‑street parking
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $40.9k | $17.40 |
| − Vacancy | −$1.8k | −$0.78 |
| EGI | $39.1k | $16.62 |
| − OpEx | −$11.7k | −$4.99 |
| NOI | $27.4k | $11.63 |
2,352 SF · lease $17.40/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$390.8K
$342.0K – $456.0K
NOI $27,358 @ 7.0% cap · market cap 2.99%
Second Best
Apartment 5plus
$361.9K
$316.7K – $422.2K
NOI $25,334 @ 7.0% cap · market cap 2.77%
Theoretical Best
Office A
$554.9K
$485.5K – $647.3K
NOI $38,840 @ 7.0% cap · market cap 4.24%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Well-maintained fourplex with four 1-bedroom, 1-bath units, on-site parking, and a community laundry room.
Where is this quadplex located?
The property is located at 1408 G Bellingham, WA.
What is the asking price?
The asking price for this property is $915,000.
What are key features of this property?
This property features: Well‑maintained 4‑plex built in 1980 with four 1‑bedroom, 1‑bath units; Each unit offers views of Bellingham Bay; On‑site parking lot with ample off‑street parking
