12-Unit Apartment
404 Front, Sumas, WA 98295
For Sale
$2,850,000
Twelve apartments arranged as three fourplexes, with 3-bedroom layouts, kitchens, in-unit laundry, and patios.
Property Size14,196 SF
Price / SF$200.76
Days on Market169
Property Features for 404 Front
General Information
Standard status
Size
Property subtype
Building Details
Year Built
Listing Agency:
Muljat Group
Listed By:
Troy C. Muljat · License #2199
(360) 820-2000
Source:
Skylineproperties
Added: May 24
Changed: Nov 6
Last Checked: Nov 8 at 6:35AM
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
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Investment Insights
Based on property information with market context.
This 12-unit apartment complex is organized as three separate fourplex buildings. Each unit features 3 bedrooms and 2.5 bathrooms, along with fully equipped kitchens, washer/dryer, vinyl and carpeted floors, and an outdoor patio. The property has on-site parking for tenants and has been professionally managed since it was built in 2019.
The complex is located directly adjacent to Sumas Elementary School in a quiet part of town, while being only blocks away from dining and retail establishments along State Route 9. It is also minutes from the US/Canada border crossing.
With a consistent unit configuration across the three fourplex groupings, the property’s layout is designed for straightforward tenant leasing and ongoing property management.
The complex is located directly adjacent to Sumas Elementary School in a quiet part of town, while being only blocks away from dining and retail establishments along State Route 9. It is also minutes from the US/Canada border crossing.
With a consistent unit configuration across the three fourplex groupings, the property’s layout is designed for straightforward tenant leasing and ongoing property management.
Key Highlights
- 12‑unit apartment complex built in 2019, arranged as three fourplexes
- All units feature 3‑bed/2.5‑bath layouts with fully equipped kitchens
- In‑unit laundry available in every unit (washer/dryer)
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$152,908
Cap Rate
5.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,058,160
$3.1M
Cap Rate 7%
$2,184,400
$2.2M
Cap Rate 9%
$1,698,978
$1.7M
Market Conditions
NOI Build-Up for 14,196 SF
Gross rent
$289.6K $20.40/SF
− Vacancy
−$11.6K −$0.82/SF
EGI
$278.0K $19.58/SF
− OpEx
−$125.1K −$8.81/SF
NOI
$152.9K $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 Rate 5%
$3,058,160
Cap Rate 7%
$2,184,400
Cap Rate 9%
$1,698,978
Alternative Uses
Best Use
Apartment 5plus
$2.18M
$1.91M – $2.55M
NOI $152,908 @ 7.0% cap · market cap 5.37%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.35M
$2.93M – $3.91M
NOI $234,426 @ 7.0% cap · market cap 8.23%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
1
Businesses Nearby
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Demographics for 98295, WA
2,899
Population
1,181
Households
2.5
Avg Household Size
35
Median Age
18%
College-Educated
88%
High-School Grad
31.3 sq mi
ZIP Area
93
Density / Sq Mi
$96,337
Median Household Income
$52,830
Median Earnings
$1,341
Median Rent
$408,000
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Twelve apartments arranged as three fourplexes, with 3-bedroom layouts, kitchens, in-unit laundry, and patios.
Where is this apartment building located?
The property is located at 404 Front Sumas, WA.
What is the asking price?
The asking price for this property is $2,850,000.
What are key features of this property?
This property features: 12‑unit apartment complex built in 2019, arranged as three fourplexes; All units feature 3‑bed/2.5‑bath layouts with fully equipped kitchens; In‑unit laundry available in every unit (washer/dryer)
