Sumas, WA 98295,380 Garfield ST #1-8
Sumas, WA 98295,380 Garfield ST #1-8
Sumas, WA 98295,380 Garfield ST #1-8
Sumas, WA 98295,380 Garfield ST #1-8
Sumas, WA 98295,380 Garfield ST #1-8
Sumas, WA 98295,380 Garfield ST #1-8
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Listed by RE/MAX Whatcom County, Inc.
Bought with eXp Realty

$1,197,000

$1,192,000

0.4%
Est.Price: ?

For more information regarding the value of a property, please contact us for a free consultation.

Est. payment /mo

7,672 SqFt


SOLD DATE : 12/01/2023

Key Details

Sold Price $1,197,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

Square Footage 7,672 sqft

Price per Sqft $156

Subdivision Sumas

MLS Listing ID 2169586

Style 55 - 5-9 Units

Year Built 1993

Annual Tax Amount $12,674

Lot Size 0.341 Acres

Property Description

Investor Opportunity! 8.2% (ish) Cap Rate!! Ask price is $149K per Unit. Huge financial upside possibility, these 8 units are already condominimized, if one was to sell separately @ $249K per condo, one would expect an immediate return of an $800K profit. (Less closing costs) Units are 2 bedrooms, 2 Baths, averaging 952 SQFT. If rents averaged $1,250 or $10K per Month / $120K per year. Current rents range in the $1,100 - $1,375 per month range. With a little effort, rent could be closer to $1,450 per month, This would create a 9.76 Cap. Lots of upside! Building is well situated, decent elevation, new construction methods and was not effected in the past Sumas floods. Or- The Condominium Building could be purchased by 8 separate individuals.

Location

State WA

County Whatcom

Area 890 - Nooksack Valley

Interior

Flooring Vinyl Plank, Carpet

Exterior

Exterior Feature Wood

Amenities Available High Speed Internet

Waterfront No

View Y/N Yes

View Mountain(s)

Roof Type Composition

Building

Lot Description Paved, Sidewalk

Sewer Sewer Connected

Water Community

New Construction No

Schools

Elementary Schools Sumas Elem

Middle Schools Nooksack Vly Mid

High Schools Nooksack Vly High

School District Nooksack Valley

Others

Acceptable Financing Cash Out

Listing Terms Cash Out

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Northwest MLS (NWMLS)

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Tommy Mutchler, Realtor

Managing Broker | License ID: 28006

+1(360) 312-4992

Bellingham, WA, United States

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