Three-Unit Apartment
5786 Portal Way, Ferndale, WA 98248
For Sale
$899,000
Three two-bedroom residences include in-unit washers and dryers, individual utility meters, and fire sprinklers.
Property Size3,304 SF
Price / SF$272.09
Days on Market22
Property Features for 5786 Portal Way
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Public Transit
Sprinkler System
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
Windermere RE Whatcom,Inc.
Listed By:
Brent McMillan
(360) 820-8888
Source:
Skylineproperties
Added: Oct 19
Changed: Nov 8
Last Checked: Oct 23 at 9:00AM
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.
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Investment Insights
Based on property information with market context.
This three-unit multifamily property contains more than 3,300 square feet across three two-bedroom, two-bathroom residences. Each unit is equipped with appliances, including a washer and dryer. The building has fire sprinklers, and utilities are individually metered, with residents responsible for their own utility costs. Six parking spaces serve the property.
The property is in Ferndale, near bus service and local amenities. During the current ownership period of six years, vacancy has been nearly zero. One unit has recently become available.
The property is in Ferndale, near bus service and local amenities. During the current ownership period of six years, vacancy has been nearly zero. One unit has recently become available.
Key Highlights
- Three 2‑bedroom, 2‑bathroom units totaling more than 3,300 square feet
- Six parking spaces
- Individual utility meters; tenants cover their own utilities
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$38,432
Cap Rate
4.27%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$768,640
$768.6K
Cap Rate 7%
$549,029
$549.0K
Cap Rate 9%
$427,022
$427.0K
Market Conditions
NOI Build-Up for 3,304 SF
Gross rent
$57.5K $17.40/SF
− Vacancy
−$2.6K −$0.78/SF
EGI
$54.9K $16.62/SF
− OpEx
−$16.5K −$4.99/SF
NOI
$38.4K $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%
$768,640
Cap Rate 7%
$549,029
Cap Rate 9%
$427,022
Alternative Uses
Best Use
Multifamily LT 5
$549.0K
$480.4K – $640.5K
NOI $38,432 @ 7.0% cap · market cap 4.27%
Second Best
Apartment 5plus
$508.4K
$444.9K – $593.1K
NOI $35,588 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$779.4K
$682.0K – $909.4K
NOI $54,561 @ 7.0% cap · market cap 6.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
659
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three two-bedroom residences include in-unit washers and dryers, individual utility meters, and fire sprinklers.
Where is this triplex located?
The property is located at 5786 Portal Way Ferndale, WA.
What is the asking price?
The asking price for this property is $899,000.
What are key features of this property?
This property features: Three 2‑bedroom, 2‑bathroom units totaling more than 3,300 square feet; Six parking spaces; Individual utility meters; tenants cover their own utilities
