Two-Story Duplex with Covered
For Sale
$625,000
2818 Valencia St 2816, Bellingham, WA 98226
Both residences include private outdoor space and dedicated laundry utility rooms.
Property Size2,216 SF
Price / SF$282.04
Days on Market69
Property Features for 2818 Valencia St 2816
General Information
Standard status
Active
Size
2,216 SF
Property subtype
Multi-Family
Occupancy
100%
Units
Unit Mix
2 x 2BR/1.5BA
Multifamily Units
2
Additional Details
Gross Income
$36,780
Amenities
private deck
patio
Building Details
Year Built
1992
Buildings
1
Tenancy
Multi
Listing Agency:
RE/MAX Whatcom County, Inc.
Listed By:
Keith Cook · License #7189
(360) 739-5600
Source:
Nwwashingtonhomesforsale
Added: Aug 16
Changed: Oct 21
Last Checked: Oct 20 at 10:17PM
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 RE/MAX Whatcom County, Inc.
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Investment Insights
Based on property information with market context.
Built in 1992, this Bellingham duplex contains two separate two-story residences, each offering 1,108 square feet with two bedrooms and one-and-a-half baths. Both units include a laundry and utility room, private deck and patio areas, and covered parking. The property is currently occupied, with one tenancy on a month-to-month arrangement and the other extending through 8/9/27.
The property is located on Valencia Street near Barkley Village Shopping Center, Regal Cinema, restaurants, retail, everyday services, and nearby trails. An additional duplex at 2828/2830 Valencia St is also available, creating the possibility of acquiring neighboring duplex properties.
The property is located on Valencia Street near Barkley Village Shopping Center, Regal Cinema, restaurants, retail, everyday services, and nearby trails. An additional duplex at 2828/2830 Valencia St is also available, creating the possibility of acquiring neighboring duplex properties.
Key Highlights
- Two separate 1,108‑square‑foot, two‑story units
- Each unit includes 2 bedrooms and 1.5 baths
- Private deck and patio space for both residences
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,776
Cap Rate
4.12%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$515,520
$515.5K
Cap Rate 7%
$368,229
$368.2K
Cap Rate 9%
$286,400
$286.4K
Market Conditions
NOI Build-Up for 2,216 SF
Gross rent
$38.6K $17.40/SF
− Vacancy
−$1.7K −$0.78/SF
EGI
$36.8K $16.62/SF
− OpEx
−$11.0K −$4.99/SF
NOI
$25.8K $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%
$515,520
Cap Rate 7%
$368,229
Cap Rate 9%
$286,400
Alternative Uses
Best Use
Multifamily LT 5
$368.2K
$322.2K – $429.6K
NOI $25,776 @ 7.0% cap · market cap 4.12%
Second Best
Apartment 5plus
$341.0K
$298.4K – $397.8K
NOI $23,869 @ 7.0% cap · market cap 3.82%
Theoretical Best
Office A
$522.8K
$457.4K – $609.9K
NOI $36,594 @ 7.0% cap · market cap 5.86%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,139
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
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Duplex - Both residences include private outdoor space and dedicated laundry utility rooms.
Where is this duplex located?
The property is located at 2818 Valencia St 2816 Bellingham, WA.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Two separate 1,108‑square‑foot, two‑story units; Each unit includes 2 bedrooms and 1.5 baths; Private deck and patio space for both residences
