Presale Four-Plex with
For Sale
$1,575,000
2966 Sweet Gum, Blaine, WA 98230
New four-plex homes feature private single-car garages, second-level living, and primary suites with ensuite baths.
Property Size5,616 SF
Price / SF$280.45
Days on Market317
Property Features for 2966 Sweet Gum
General Information
Standard status
Active
Size
5,616 SF
Total Parking Spaces
4
Property subtype
Multi-family
Additional Details
Highway Access
Yes
Multifamily Units
4
Amenities
walking paths
dog-friendly community
Building Details
Year Built
2026
Listing Agency:
Windermere RE Whatcom,Inc.
Listed By:
Brandi Coplen
(425) 205-2135
Source:
Skylineproperties
Added: Nov 1, 2025
Changed: Sep 13
Last Checked: Sep 13 at 9:53AM
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 Windermere RE Whatcom,Inc.
Investment Insights
Based on property information with market context.
This presale four-plex at 2966 Sweet Gum offers a well-planned setup designed for both investors and owner-occupants. Each unit includes a private single-car garage and a layout that places the main living, dining, kitchen, and powder room on the second level for an open, light-filled feel. Kitchens feature quartz countertops, and the main living areas include durable luxury vinyl plank flooring. Unit interiors also provide a primary bedroom with a walk-in closet and an ensuite bath, along with two additional guest bedrooms and a full bathroom.
Set in The Ridge, the community includes walking paths and is described as dog-friendly. The property is approximately 25 minutes from Bellingham and provides easy access to I-5 and the Canadian border, with nearby dining and the Blaine Marina mentioned in the remarks.
Preferred lender incentives are available, including a 1% lender credit plus a $5,000 seller credit.
Set in The Ridge, the community includes walking paths and is described as dog-friendly. The property is approximately 25 minutes from Bellingham and provides easy access to I-5 and the Canadian border, with nearby dining and the Blaine Marina mentioned in the remarks.
Preferred lender incentives are available, including a 1% lender credit plus a $5,000 seller credit.
Key Highlights
- New 2026 presale four‑plex with private single‑car garages for each unit
- Second‑level layout: main living, dining, kitchen, and a powder room located on level 2
- Kitchens with quartz countertops and luxury vinyl plank flooring in main living areas
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
$65,325
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
4.15%
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%
$1,306,500
$1.3M
Cap Rate 7%
$933,214
$933.2K
Cap Rate 9%
$725,833
$725.8K
Market Conditions
NOI Build-Up for 5,616 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
$97.7K $17.40/SF
− Vacancy
−$4.4K −$0.78/SF
EGI
$93.3K $16.62/SF
− OpEx
−$28.0K −$4.99/SF
NOI
$65.3K $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 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%
$1,306,500
Cap Rate 7%
$933,214
Cap Rate 9%
$725,833
Alternative Uses
Best Use
Multifamily LT 5
$933.2K
$816.6K – $1.09M
NOI $65,325 @ 7.0% cap · market cap 4.15%
Second Best
Apartment 5plus
$864.2K
$756.1K – $1.01M
NOI $60,491 @ 7.0% cap · market cap 3.84%
Theoretical Best
Office A
$1.32M
$1.16M – $1.55M
NOI $92,740 @ 7.0% cap · market cap 5.89%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
8
Businesses Nearby
Explore this area
Business Placement
Demographics for 98230, WA
18,754
Population
9,395
Households
2
Avg Household Size
48
Median Age
32%
College-Educated
95%
High-School Grad
42.5 sq mi
ZIP Area
441
Density / Sq Mi
$82,716
Median Household Income
$45,603
Median Earnings
$1,255
Median Rent
$467,900
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Quadplex - New four-plex homes feature private single-car garages, second-level living, and primary suites with ensuite baths.
Where is this quadplex located?
The property is located at 2966 Sweet Gum Blaine, WA.
What is the asking price?
The asking price for this property is $1,575,000.
What are key features of this property?
This property features: New 2026 presale four‑plex with private single‑car garages for each unit; Second‑level layout: main living, dining, kitchen, and a powder room located on level 2; Kitchens with quartz countertops and luxury vinyl plank flooring in main living areas
