Modern Townhome
201 Tull Bellingham, WA 98226
For Sale
$10,995,000
Recently built 32-unit townhome community offering 2- and 3-bedroom layouts with in-unit laundry.
Property Size30,104 SF
Price / SF$365.23
Days on Market39
Property Features for 201 Tull
General Information
- Standard status
- Active
- Size
- 30,104 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 2021
Listing Agency:
Muljat Group
Listed By:
Troy C. Muljat
(425) 205-2135
Source:
Skylineproperties
Added: Jun 19
Changed: Jul 24
Last Checked: Jul 26 at 11:17PM
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 Muljat Group
Investment Insights
Based on property information with market context.
Recently built Tull Court Townhomes features 32 townhome units in a private cul-de-sac setting just off Meridian Street. The unit mix is primarily 2-bedroom with 1.5 bathrooms, along with some 3-bedroom units with 2.5 bathrooms. Each townhome includes a fully equipped kitchen and an in-unit washer and dryer.
The community is located near major shopping centers and Whatcom Community College, with just over one mile to I-5 access. The location combines in-city convenience with a quieter feel provided by the cul-de-sac.
This is a multifamily residential income property designed around townhouse-style living, with modern interior appointments and practical in-unit amenities.
The community is located near major shopping centers and Whatcom Community College, with just over one mile to I-5 access. The location combines in-city convenience with a quieter feel provided by the cul-de-sac.
This is a multifamily residential income property designed around townhouse-style living, with modern interior appointments and practical in-unit amenities.
Key Highlights
- Recently built Tull Court Townhomes community, built in 2021
- 32 units with mostly 2‑bed/1.5‑bath layouts and some 3‑bed/2.5‑bath units
- Units include fully equipped kitchens
Financial Insights For Apartment 5plus
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 | $614.1k | $20.40 |
| − Vacancy | −$24.6k | −$0.82 |
| EGI | $589.6k | $19.58 |
| − OpEx | −$265.3k | −$8.81 |
| NOI | $324.3k | $10.77 |
30,104 SF · lease $20.40/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$4.63M
$4.05M – $5.40M
NOI $324,256 @ 7.0% cap · market cap 2.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.10M
$6.21M – $8.29M
NOI $497,123 @ 7.0% cap · market cap 4.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Recently built 32-unit townhome community offering 2- and 3-bedroom layouts with in-unit laundry.
Where is this apartment building located?
The property is located at 201 Tull Bellingham, WA.
What is the asking price?
The asking price for this property is $10,995,000.
What are key features of this property?
This property features: Recently built Tull Court Townhomes community, built in 2021; 32 units with mostly 2‑bed/1.5‑bath layouts and some 3‑bed/2.5‑bath units; Units include fully equipped kitchens
