Courtesy: Hammer Properties NW Inc.
360-756-6500
Nicole Quinn
Prime investor opportunity in Downtown Bellingham’s Urban Village. This 3-year-old, 13-unit building offers modern construction, low operating costs, and strong tenant demand in a highly walkable core location. Units feature contemporary finishes and efficient systems designed for long-term durability. Units have full appliance suite: range, fridge, dishwasher, washer+dryer. Ten parking spaces can be rented separately. There is a bike storage room and a bus stop out front. Five years remain on the Multi-Family Tax Exemption (MFTE), providing valuable tax savings and enhancing projected returns. With stable occupancy and minimal maintenance needs, this turnkey asset is ideal for investors seeking steady performance and future appreciation.
Turnkey 3-Unit Side-by-Side in Prime Location, Perfect for House Hackers or Investors. Welcome to a fully renovated 3-unit multifamily at the end of a quiet cul-de-sac, directly across from the high school. This side-by-side property is completely turnkey and ideal for both investors and owner-occupants seeking strong cash flow and low maintenance. Each spacious unit offers a modern kitchen with updated cabinets, countertops, appliances, and flooring, along with refreshed bathrooms, open living and dining areas, and fresh paint throughout. Additional features include in-unit laundry, private entrances, dedicated parking, and fully finished basements perfect for a home office, gym, or extra living space. Major updates include a brand-new roof, new septic system, new driveway, updated landscaping, and full cosmetic upgrades throughout. With projected rents of $3,200 per unit ($9,600/month total), this property delivers excellent income potential from day one. OH Sat 13 & Sun 14, 11am–1pm
Courtesy: Windermere Real Estate Whatcom
360-734-7500
David Hovde
This rare property offers exceptional flexibility—operate it as a 4-plex or as two separate duplexes. Each apartment features 1 bdrm and 1 bath, along with an equal amount of square footage in a daylight basement that can function as a garage, storage area, or workspace. Ideally located just a short distance from Nelson’s Market and Café, offering walkability and long-term rental appeal. All units are vacant preparing for sale, one long term tenant in 504 recently signed a new lease at $1,400 per month, providing a reliable benchmark for rental potential. Property updates include a new roof (500), gas ranges and heat throughout, new LVP flooring in 500 Gladstone, and a newly installed sewer line in 508.
Courtesy: Muljat Group
360-733-3030
Kena Greer Brashear
Outstanding Southside duplex perfectly positioned in Happy Valley, just blocks to Western Washington University and the Sehome Hill Arboretum. Enjoy quick access to Fairhaven, downtown, trails, parks, restaurants, shopping, schools, and outdoor recreation. This well located property places tenants in the heart of Bellingham’s most desirable amenities. Each two bedroom townhouse style unit has been fully renovated and features covered decks, LVP flooring, stainless appliances, quartz counters, and cozy fireplaces. The property has a strong rental history with consistently low vacancy rates. Currently owner managed, the building is fully leased and ready for its next investor. Current leases expire 8/31/2026
Courtesy: Muljat Group
360-733-3030
Kena Greer Brashear
Two rental homes on one property offer an incredible opportunity just blocks from Western Washington University. The first home is newer and the second has been completely renovated with modern upgrades. One home features four bedrooms and one bathroom, and the other offers three bedrooms and one bathroom. Both homes include quartz counters, LVP flooring, stainless appliances, and beautiful contemporary finishes. This is an ideal setup for strong rental income, multi generational living, or an owner occupied investment with additional cash flow. Outstanding location close to Western, shopping, parks, and public transit. A true turnkey investment in the heart of Bellingham.
Courtesy: Windermere Real Estate Whatcom
360-734-7500
Robert Sandoz
Motivated Seller! 7% Cap rate. Unlock the potential of this rare multifamily investment with future commercial/industrial zoning expected fall of 2025. Currently generating strong income ($169K+ gross), this well-positioned property invites redevelopment—imagine storage, mixed-use, or a custom concept with city collaboration. Two curb cuts, three upgraded septic systems, Deer Creek Water rights, and a sewer stub make future expansion seamless. Seven versatile, well-kept structures include homes, shops, a barn, and a showroom—all in excellent shape. A unique chance to invest now and shape what’s next.
Courtesy: Keller Williams Western Realty
360-738-7070
Anthony Zapata
Prime investment opportunity in Bellingham! This well-maintained fourplex offers strong income potential and future development options on the back portion of the lot. The property features three spacious 2BD/1BA units and one 1BD/1BA unit, plus an on-site coin-op laundry for added income. Located in a central area close to shopping, restaurants, parks, and freeway access, it’s ideal for investors seeking steady returns and long-term upside. Current rents are below market, creating immediate value-add potential with rent adjustments or upgrades. Whether you’re entering the investment market or expanding your portfolio, this property offers solid cash flow today and room to grow tomorrow. Buyer to verify development potential.
Courtesy: John L Scott Bellingham
360-671-9640
Patrick Starr
First time on market! Incredibly private 4-plex in highly sought after neighborhood. Completely remodeled and expanded in 2012, this was built with being a potential home-health care business in mind. It is surrounded by 10' tall hedges giving tenants a country feel in the city. Plenty of parking and close to shopping, bus lines, parks, and schools. Largest unit has sole use of an attached garage. Could make make a very profitable assisted living facility.
Courtesy: Exp Realty
888-317-5197
Jon Rockwood
Come take a look at 919-923 24th St in Bellingham—a fully occupied multi-unit property priced at $1.83 million. This special investment offering includes a 7 bedroom home and a separate duplex, each unit boasting four bedrooms. Generating approximately $132,000 in annual gross rent (over 5% cap rate), this property is a good investment opportunity with its prime location close to Western Washington University. Check out attached floor plans, and a 3D virtual tour (upon request) to see all that is being offered. This property is consistently rented and a prime student rental location, this is a turnkey opportunity you won’t want to miss!
Courtesy: Gage CRE
360-483-0508
Gregory Martineau
This property offers excellent versatility with multiple possibilities: redevelopment potential, live-in investment, or rental income (short-term rentals are permitted) in sought-after Fairhaven. Short walking distance to all of Fairhaven's attractions and easy I-5 access via Old Fairhaven Parkway. The 644-square-foot home sits on a generous 5,662-square-foot lot in the Residential Transition-4 zone of Fairhaven Urban Village. Previously approved plans available from 2017 for a mixed-use commercial/residential building (Buyer to verify all uses).
Courtesy: Keller Williams Western Realty
360-738-7070
Jennifer Glyzinski
Calling all investors! Great investment opportunity in the Birchwood neighborhood. Each unit has 2 Beds, 2 baths and a single car garage. All units are a 2 story townhouse layout with a unique style. Convenient location on a bus line and nearby shopping and schools. Don't miss out on this prime Bellingham rental property!
Courtesy: Coldwell Banker Bain
360-734-3420
Jake Reijm
Well Maintained Duplex in Prime Bellingham Location! Spacious 2-bed, 1-bath units with single-level living, updated flooring, kitchen cabinets, and granite bathroom counters. Features include a brick fireplace mantel, private storage, and a shared yard with a deck and garden. All appliances are included. Each unit comes with three dedicated parking spaces and a private storage area. Located near Sunset Square, Barkley Village, and on the bus line. Live in one unit and rent the other, or keep both as rentals. No HOA—tenants pay utilities. Don't miss this great opportunity!
Courtesy: Birch Bay Realty Inc.
360-371-7844
Ronald Kulman
Centrally located duplex in Bellingham. Close to Barkley and Whatcom Falls Park. Each unit has 3 bedrooms and 2 bathrooms. Each unit also has a large 2 car garage. 2 beautiful Sequoia trees on back of property. Well maintained and being sold by the original owner. Don't miss out on this great investment opportunity. Unit 2316 just updated with laminate vinyl flooring. Rents have upside. Seller pays water & sewer.
Courtesy: Coldwell Banker Bain
360-734-3420
Nav Narwal
Prime Sehome Hill triplex just minutes from WWU—ideal for investors or owner-occupants. Main home offers 3 or 4 bedrooms & 1.5 baths; perfect investment or for living on site while generating income basically at the cost of buying a single home. Two additional units (stand alone duplex style at rear of parcel). These 1 bed/1 bath units provide steady rental potential in a high-demand area. Current rents are below market. Smart investment with long-term growth in one of Bellingham’s most sought-after neighborhoods. Shared laundry on back porch of the house. Unmetered parking on street offers easy parking alternative along with 4 parking spaces on site.
Courtesy: Muljat Group
360-733-3030
Ian Steger
Turnkey 4-Plex near Whatcom Community College and Bellis Fair Mall - Prime Investment Opportunity! Located just steps from the grocery store and the major retail corridor of Bellingham, this property offers income and long-term upside potential. Each unit features 2 bedrooms and 2 bathrooms with spacious layouts, fireplace, updated appliances, designated parking, nearby bus lines and in-unit laundry. The private decks and patios offer an escape from the indoors. Strong rental history with less than 1% vacancy rate. Just minutes to I-5, restaurants, parks, and shopping. This is a great opportunity in Bellingham's demanding rental market.
Courtesy: COMPASS
360-233-5033
Erika Buse
With the recent rent increases, the property is now offering a 6% cap rate. Discover a prime investment opportunity with this triplex property. It includes a single-family home alongside a newer built 3-bedroom, 2-bathroom duplex. Each unit comes with dedicated parking. The residents enjoy the tranquility of a dead end street with minimal traffic, as well as the convenience of proximity to Roosevelt Park, Barkley Village, the Railroad trail system, and easy access to bus routes. These units are fully rented and there is potential to increase rents, offering an excellent opportunity to enhance your investment in the vibrant Bellingham area!
Courtesy: WestCom Properties Inc.
360-647-2856
Brian Finnegan
6 multi-family studio apartments, plus 3 commercial office spaces in this highly desirable location on the corner of Alabama and Cornwall Ave. It is currently fully occupied.
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Bellingham is located in Washington. Bellingham, Washington has a population of 90,545. Bellingham is less family-centric than the surrounding county with 25.93% of the households containing married families with children. The county average for households married with children is 31.2%.
The median household income in Bellingham, Washington is $59,163. The median household income for the surrounding county is $70,011 compared to the national median of $69,021. The median age of people living in Bellingham is 33.5 years.
The average high temperature in July is 72.4 degrees, with an average low temperature in January of 34 degrees. The average rainfall is approximately 39.1 inches per year, with 9 inches of snow per year.
