1059 N State Street
Bellingham, WA 98225
18150 sqft | 0.16 acres | #2064358
Description
The Pacific Building located in downtown Bellingham is a charming brick structure consisting of 9 apartments and two large retail spaces. This value-add opportunity is listed over a 6% cap rate trending to over 11% on conservative proforma numbers. Building has been kept up very well and appears to be structurally sound but may need seismic reinforcement in the future (URM, buyer to verify). Apartments feature tall ceilings, millwork, cozy built-ins, large windows with second story territorial views of DT Bellingham. Retail spaces pose as the most significant value-add component. Roof is 15 years old, retail spaces are sprinkled, electrical is copper with newer panels / meters, plumbing mostly original.
Property Details
- Days on Market (Cumulative)8
Location
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2023-10-02 00:00:00. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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Listing Courtesy
Listing Agent: Ethan Szmania (#NWM118459)
Listing Office: The Foundation Group LLC (#NWM7988)
Listing Courtesy (Buyer)
Buyer's Agent: Aaron Locke (#NWM88118)
Buyer's Office: The Foundation Group LLC (#NWM7988)
