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.
Sold
Listed by: RE/MAX Whatcom County, Inc.
Bought with: eXp Realty
$1,197,000
380 Garfield Street #1-8, Sumas, WA 98295
--beds
--baths
7,672sqft
Multi Family
Built in 1993
-- sqft lot
$1,365,200 Zestimate®
$156/sqft
$1,771 Estimated rent
Home value
$1,365,200
$1.19M - $1.56M
$1,771/mo
Zestimate® history
Owner options
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$1,771/mo
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$1,771/mo
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$7,150/mo
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Zillow last checked:
Listing updated:
Listed by:
Keith Cook,
RE/MAX Whatcom County, Inc.,
David Harmon,
RE/MAX Whatcom County, Inc.
Bought with:
Ashton Claire Atkinson Dellinger
eXp Realty
Source: NWMLS as distributed by MLS GRID,MLS#: 2169586
Facts & features
Interior
Heating
- Forced Air, Electric, Natural Gas
Cooling
- Forced Air
Features
- Flooring: Vinyl Plank, Carpet
- Has fireplace: No
Interior area
- Total structure area: 7,672
- Total interior livable area: 7,672 sqft
Property
Parking
- Total spaces: 15
- Parking features: Open
- Carport spaces: 4
- Uncovered spaces: 11
Features
- Patio & porch: Wall to Wall Carpet
- Has view: Yes
Lot
- Size: 0.34 Acres
- Features: Paved, Sidewalk, High Speed Internet
Details
- Parcel number: 4104350393170008
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Wood Siding
- Foundation: Poured Concrete
- Roof: Composition
Condition
- Year built: 1993
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: City of Sumas
- Water: Community, Company: City of Sumas
Community & neighborhood
Location
- Region: Sumas
- Subdivision: Sumas
Other
Other facts
- Cumulative days on market: 1042 days
Price history
| Date | Event | Price |
|---|---|---|
| 12/1/2023 | Sold | $1,197,000+0.4%$156/sqft |
Source:  NWMLS as distributed by MLS GRID #2169586 Report a problem | ||
| 10/19/2023 | Pending sale | $1,192,000$155/sqft |
Source: NWMLS as distributed by MLS GRID #2169586 Report a problem | ||
| 10/7/2023 | Listed for sale | $1,192,000$155/sqft |
Source: NWMLS as distributed by MLS GRID #2169586 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 98295
Nearby schools
GreatSchools rating
- 6/10Sumas Elementary SchoolGrades: PK-5Distance: 0.4 mi
- 6/10Nooksack Valley High SchoolGrades: 7-12Distance: 3.3 mi
- 6/10Nooksack Valley Middle SchoolGrades: 6-8Distance: 6.3 mi
Schools provided by the listing agent
- Elementary: Sumas Elem
- Middle: Nooksack Vly Mid
- High: Nooksack Vly High
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Washington
- Whatcom County
- Sumas
- 98295
- 380 Garfield Street Unit 1-8
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