Townhouse-Style 6-Unit
For Sale
$1,250,000
211 Maple, Lynden, WA 98264
Six townhouse-style units each feature 2 beds and 1 bath with private patios and access to a shared coin-op laundry room.
Property Size4,750 SF
Price / SF$263.16
Days on Market187
Property Features for 211 Maple
General Information
Standard status
Active
Size
4,750 SF
Property subtype
Multi-family
Additional Details
Multifamily Units
6
Amenities
laundry room
private patio
storage locker
owner storage room
off-street parking
backyard
Building Details
Year Built
1974
Tenancy
Multi
Listing Agency:
Bellwether Real Estate
Listed By:
Renae Ingraham
(360) 424-2100
Source:
Century21northhomes
Added: Mar 7
Changed: Sep 9
Last Checked: Sep 10 at 5:26AM
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 6-unit multifamily property includes townhouse-style units with 2 bedrooms and 1 bathroom each. Each unit has a private patio and a storage locker, and the interiors feature updated vinyl flooring, with some units also having new interior paint and flooring. The property also has a shared coin-op laundry room that has been refreshed with new paint and flooring, along with a large locked storage room for owner use.
The building sits at the end of a quiet dead-end street and includes a large off-street parking lot and a spacious grassy backyard.
Recent exterior upgrades include all new hard-plank siding, new exterior paint, and a newer metal roof.
The building sits at the end of a quiet dead-end street and includes a large off-street parking lot and a spacious grassy backyard.
Recent exterior upgrades include all new hard-plank siding, new exterior paint, and a newer metal roof.
Key Highlights
- 6‑unit multifamily property built in 1974 with townhouse‑style layout—each unit has 2 beds and 1 bath
- Private patio for each unit, plus access to a shared coin‑op laundry room
- Shared coin‑op laundry room recently refreshed with new paint and flooring
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$51,163
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,023,260
$1.0M
Cap Rate 7%
$730,900
$730.9K
Cap Rate 9%
$568,478
$568.5K
Market Conditions
NOI Build-Up for 4,750 SF
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.
Gross rent
$96.9K $20.40/SF
− Vacancy
−$3.9K −$0.82/SF
EGI
$93.0K $19.58/SF
− OpEx
−$41.9K −$8.81/SF
NOI
$51.2K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,023,260
Cap Rate 7%
$730,900
Cap Rate 9%
$568,478
Alternative Uses
Best Use
Apartment 5plus
$730.9K
$639.5K – $852.7K
NOI $51,163 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.12M
$980.5K – $1.31M
NOI $78,439 @ 7.0% cap · market cap 6.28%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
548
Businesses Nearby
Explore this area
Business Placement
Demographics for 98264, WA
23,170
Population
8,395
Households
2.8
Avg Household Size
38
Median Age
25%
College-Educated
90%
High-School Grad
57.2 sq mi
ZIP Area
405
Density / Sq Mi
$95,225
Median Household Income
$47,046
Median Earnings
$1,611
Median Rent
$538,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Six townhouse-style units each feature 2 beds and 1 bath with private patios and access to a shared coin-op laundry room.
Where is this apartment building located?
The property is located at 211 Maple Lynden, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: 6‑unit multifamily property built in 1974 with townhouse‑style layout—each unit has 2 beds and 1 bath; Private patio for each unit, plus access to a shared coin‑op laundry room; Shared coin‑op laundry room recently refreshed with new paint and flooring
