Four-Unit Quadplex with Private
2340 Main, Ferndale, WA 98248
For Sale
$875,000
Four consistently occupied residences feature two bedrooms, one bathroom, and individual outdoor decks.
Property Size3,208 SF
Price / SF$272.76
Days on Market165
Property Features for 2340 Main
General Information
Standard status
Size
Property subtype
Units
Unit Mix
Multifamily Units
Amenities
private decks
Building Details
Year Built
Listing Agency:
Terrafin
Listed By:
Dennis Folk · License #25739
(253) 310-1552
Source:
Skylineproperties
Added: May 28
Changed: Nov 6
Last Checked: Nov 8 at 6:50AM
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 Terrafin
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Investment Insights
Based on property information with market context.
Built in 1991, this 3,208-square-foot quadplex contains four consistently occupied residences. Each unit offers two bedrooms, one bathroom, and a private deck that extends the usable living area outdoors. Vinyl siding provides a durable exterior finish designed for low-maintenance ownership.
The property is located at 2340 Main in Ferndale, Washington, near schools, parks, employment centers, shopping, and everyday amenities. Its four-unit configuration and established occupancy provide a straightforward multifamily asset with separately arranged residences and outdoor space for each unit.
The property is located at 2340 Main in Ferndale, Washington, near schools, parks, employment centers, shopping, and everyday amenities. Its four-unit configuration and established occupancy provide a straightforward multifamily asset with separately arranged residences and outdoor space for each unit.
Key Highlights
- Four‑unit quadplex with all residences consistently occupied
- Each unit includes 2 bedrooms and 1 bathroom
- Private deck provided for every unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,315
Cap Rate
4.26%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,300
$746.3K
Cap Rate 7%
$533,071
$533.1K
Cap Rate 9%
$414,611
$414.6K
Market Conditions
NOI Build-Up for 3,208 SF
Gross rent
$55.8K $17.40/SF
− Vacancy
−$2.5K −$0.78/SF
EGI
$53.3K $16.62/SF
− OpEx
−$16.0K −$4.99/SF
NOI
$37.3K $11.63/SF
Area
Whatcom County, WA
Vacancy
4.50%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$746,300
Cap Rate 7%
$533,071
Cap Rate 9%
$414,611
Alternative Uses
Best Use
Multifamily LT 5
$533.1K
$466.4K – $621.9K
NOI $37,315 @ 7.0% cap · market cap 4.26%
Second Best
Apartment 5plus
$493.6K
$431.9K – $575.9K
NOI $34,554 @ 7.0% cap · market cap 3.95%
Theoretical Best
Office A
$756.8K
$662.2K – $882.9K
NOI $52,975 @ 7.0% cap · market cap 6.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
129
Businesses Nearby
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Business Placement
Demographics for 98248, WA
26,784
Population
10,576
Households
2.5
Avg Household Size
39
Median Age
31%
College-Educated
93%
High-School Grad
71.8 sq mi
ZIP Area
373
Density / Sq Mi
$88,566
Median Household Income
$50,059
Median Earnings
$1,455
Median Rent
$550,300
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Quadplex - Four consistently occupied residences feature two bedrooms, one bathroom, and individual outdoor decks.
Where is this quadplex located?
The property is located at 2340 Main Ferndale, WA.
What is the asking price?
The asking price for this property is $875,000.
What are key features of this property?
This property features: Four‑unit quadplex with all residences consistently occupied; Each unit includes 2 bedrooms and 1 bathroom; Private deck provided for every unit
