5778 2nd Avenue
5778 2nd Avenue
Ferndale, WA 98248
$825,000
Price
7
Beds
6
Baths
7,326 Sq. Ft.
$113 / Sq. Ft.
7,326
Sq. Ft.
$113
per Sq. Ft.
Pending Inspection
Pending Inspection
Listing provided courtesy of eXp Realty
Description
A great investment opportunity with major expandability possibilities! 8% Cap Rate! Zoned Urban Residential gives you tons of versatility on highest and best use. Included with the sale is the adjacent lot that is 5,663 sqft. Boasting 7 units in total - five of them are beautiful, fully renovated units, 6th unit just needs some finishing touches. Renovate the store front for even more income. Huge laundry area with coin-op machines and storage units. Use 2 car garage for yourself or rent that too!...A great investment opportunity with major expandability possibilities! 8% Cap Rate! Zoned Urban Residential gives you tons of versatility on highest and best use. Included with the sale is the adjacent lot that is 5,663 sqft. Boasting 7 units in total - five of them are beautiful, fully renovated units, 6th unit just needs some finishing touches. Renovate the store front for even more income. Huge laundry area with coin-op machines and storage units. Use 2 car garage for yourself or rent that too! Tenants will love living right across from Griffintown Park. Walking distance to downtown Ferndale shops, restaurants and Vanderyacht, Pioneer and Hovander Homestead parks!
- Listed by Cody S Stacy • eXp Realty
Property Details for 5778 2nd Avenue
Community Name
Ferndale
School DistrictFerndale
Number of Assigned Spaces6
Total Covered Parking2
Entry Date04-25-2024
Energy SourceElectric,Natural Gas
SewerSewer Connected
Location
Listing Courtesy of eXp Realty![]()
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LISTING UPDATED: 04/30/2024 04:45 PM
Property Details for 5778 2nd Avenue
| Status | Pending Inspection |
|---|---|
| MLS # | 2227808 |
| Days on Market | 5 |
| Cumulative Days on Market | 5 |
| Taxes | $4,392 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income |
| Year Built | 1900 |
| Lot Size | 0.13 AC / 5,663 SF |
| County | Whatcom County |
Location
Listing Courtesy of eXp Realty![]()
Add your commute
Building Information for 5778 2nd Avenue
Stories2Residences6Year Built1900Building Size-Lot Size0.13 AC / 5,663 SF
Payment Calculator
$4,868 per month
30 year fixed, 7.25% Interest
Principal and Interest
$4,502
Property Taxes
$366
HOA Dues
$0
The Payment Calculator is for illustrative purposes only.
Property Information for 5778 2nd Avenue
Summary
Location and General Information
- Style: 55 - 5-9 Units
- Area: 870 - Ferndale/Custer
- Directions: Use GPS.
- Leased Items: None
- Property Sub Type: MULT
- View: No
- Waterfront: No
Taxes and HOA Information
- Tax Year: 2024
Parking
- Number of Carport Spaces: 0.0
- Carport: No
- Open Parking Spaces: 4.0
- Open Parking: Yes
Interior and Exterior Features
Interior Features
- Floor Covering: Ceramic Tile, Softwood, Laminate
- Features: Ceramic Tile, Fir/Softwood, Laminate Hardwood
- Cooling: No
- Cooling: None
- Fireplace: No
- Heating: Yes
- Heating: Baseboard, Forced Air
- FIRPTA: No
Exterior Features
- Exterior: Stucco, Wood Products
- Roof: Flat
Property
Utilities
- Water Source: Public
- Water/Sewer/Garbage: 7288.26
- Power Company: PSE
- Sewer Company: City of Ferndale
- Water Company: City of Ferndale
- Power Production Type: Electric, Natural Gas
Property and Assessments
- New Construction YN: No
- Letter On File: Duplicate Prop Type
- Preliminary Title Ordered: Yes
- Senior Community: No
- Special Listing Conditions: None
- Photos Count: 29
Lot Information
- Lot Size Source: Public Record
- Parcel Number Free Text: 3902201761000000
- Building Condition: Fair
- Calculated Square Footage: 7326
- Structure Type: Multi Family
- Square Footage Finished: 0
- Square Footage Unfinished: 0
- Building Area Total: 7326.0
- Building Area Units: Square Feet
- Property Type: Residential Income
- Elevation Units: Feet
- Irrigation Water Rights: No
Multi Family
Building Details
- Number of Uncovered Spaces: 4
- Number of Stories in Building: 2
- Vacancy Rate: 28
- Number Of Units Total: 6
- Units Below Grade: false
- Units In Building Total: 7
Financing / Income and Expenses
- Electric Expense: $5,726
- Total Expenses: 19281.27
- Gross Adjusted Income: 78540
- Gross Rent Multiplier: 10.5
- Gross Scheduled Income: $78,540
- Insurance Expense: $0
- Net Operating Income: $65,776
- Other Expenses: $1,875
- Total Monthly Income: 6545
- Fuel Expense: $0
Unit 1
- Name Unit 1: 104
- Washer/Dryer Unit 1: false
- Range/Oven Unit 1: false
- Refrigerator Unit 1: false
- Dishwasher Unit 1: false
- Rent Unit 1: $.00
- Bedrooms Unit 1: 2
- Fireplaces Unit 1: 0
- Bathrooms Unit 1: 1
Unit 2
- Name Unit 2: 102
- Washer/Dryer Unit 2: false
- Range/Oven Unit 2: false
- Refrigerator Unit 2: false
- Dishwasher Unit 2: false
- Rent Unit 2: $1,450.00
- Bedrooms Unit 2: 1
- Bathrooms Unit 2: 1
Unit 3
- Name Unit 3: 201
- Washer/Dryer Unit 3: false
- Range/Oven Unit 3: true
- Refrigerator Unit 3: true
- Dishwasher Unit 3: true
- Rent Unit 3: $1,350.00
- Bedrooms Unit 3: 1
- Bathrooms Unit 3: 1
Unit 4
- Name Unit 4: 202
- Washer/Dryer Unit 4: false
- Range/Oven Unit 4: true
- Refrigerator Unit 4: true
- Dishwasher Unit 4: true
- Rent Unit 4: $1,295.00
- Bedrooms Unit 4: 1
- Bathrooms Unit 4: 1
Unit 5
- Name Unit 5: 203
- Washer/Dryer Unit 5: false
- Range/Oven Unit 5: true
- Refrigerator Unit 5: true
- Dishwasher Unit 5: true
- Rent Unit 5: $1,000.00
- Bedrooms Unit 5: 0
- Bathrooms Unit 5: 1
Unit 6
- Name Unit 6: 204
- Washer/Dryer Unit 6: false
- Range/Oven Unit 6: true
- Refrigerator Unit 6: true
- Dishwasher Unit 6: true
- Rent Unit 6: $1,450.00
- Bedrooms Unit 6: 2
- Bathrooms Unit 6: 1
Rental
Rent Information
- Occupant Type: Tenant
- Leasable Area: 7326.0
- Leasable Area Units: Square Feet
Property History for 5778 2nd Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 5778 2nd Avenue
Taxable ValueLand$119,687Additions$482,443Total$602,130
Tax Record2021$4,039 ($337 / month)
Home Facts
Total Finished SqFt7,326 SqFtAbove Ground SqFt7,326 SqFtLot Size5,663 SqFtStyleMiscellaneous CommercialYear Built1900ZoningURRCountyWHATCOMAPN390220 176100 0000
Schools near 5778 2nd Avenue
This home is within Ferndale School District.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 9 to 12 |
Rating | School | Distance |
|---|---|---|
Central Elementary School PublicPK to 5 | ||
Vista Middle School Public6 to 8 | ||
Windward High School Public9 to 12 | ||
Ferndale High School Public9 to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.
Listing Courtesy of eXp Realty
Listing provided courtesy of NWMLS, RMLS or Yakima MLS. The information contained in this listing has not been verified by Compass or the MLS and should be verified by the buyer. The DOM value represents the number of days this listing has been Active on this website.