4149 Northwest AveBellingham, WA 98226

This 1.63-acre commercial property in Bellingham, WA, presents a significant redevelopment opportunity. Located near I-5, Costco, and other major amenities, the site boasts PCM2.5 zoning, allowing for diverse commercial and multi-family development. Currently generating $2,000 monthly rental income from a four-bedroom, two-bathroom house with a three-car garage and storage building, this property offers immediate cash flow while development plans are finalized. City utilities are readily accessible, with sewer connection available at the street. A completed wetland reconnaissance report confirms no wetlands on the property. Comprehensive due diligence materials are available, including lot dimensions, aerial view, legal description, preliminary title report, survey, tax records, and seller's disclosure. The property includes two buildings, spanning two stories and totaling 1,846 square feet, with three parking spaces. The asking price is $1,500,000, representing a price per square foot of $812.57 and a 1.35% cap rate based on a net operating income of $20,200. The property features a 100% occupancy rate with four tenants under a modified lease agreement. Built in 1952, this mixed-use investment offers substantial upside potential for the discerning developer. Contact for detailed information and available documentation.