Courtesy: Windermere Real Estate Whatcom
360-734-7500
Robert Weston
Charming 1928 Tudor in the highly desirable Columbia neighborhood. This character-filled property is currently operated as a 3-unit investment, offering flexible living options and strong rental potential. Thoughtful layouts in each unit maximize space while preserving the home’s classic Tudor lines, vintage details, and timeless curb appeal.With 5 bedrooms and 3 full baths, the property blends historic charm with functional living that appeals to both long-term tenants and owner-occupants. Ideal opportunity to live in one unit and rent the other two for income or reduced housing costs.Located in one of Bellingham’s most sought-after neighborhoods, residents enjoy close proximity to downtown, parks, schools, shopping, dining, and everyday amenities. Consistently high rental demand and a prime location make this a standout investment with long-term upside.A rare chance to own a piece of Columbia history while generating reliable income.
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 2 car garage. Well maintained and being sold by the original owner. Don't miss out on this great investment opportunity. Unit 2316 just updated. No Lock Box.
Courtesy: Professional Realty Services
888-302-5550
Igor Bulanov
Well-maintained triplex in a prime Bellingham location offering strong, stable income with long-term tenants already in place. Each of the three units features 804 sq ft of comfortable living space with 2 bedrooms and 1 bathroom, vaulted ceilings, and private balconies that enhance natural light and livability. All units are equipped with their own washer and dryer and individual hot water tanks, providing convenience for tenants and reduced owner expenses. Each unit also includes two dedicated parking spaces, a rare and valuable feature for multifamily properties in this area. Ideally situated in the heart of Bellingham, this property is just minutes from Lake Whatcom, Whatcom Falls Park, Galbraith Mountain trails, Trader Joe’s, and downtown, making it highly attractive to renters seeking both outdoor access and urban convenience. This is a turnkey investment opportunity with consistent rental history and upside potential in a high-demand rental market. Ideal for investors or owner-occupants looking to live in one unit and rent the other two—a great way to enter the rental market while offsetting your mortgage.
Courtesy: Lake & Company
206-527-1777
Robert Macdonald
Main floor leased through June '26. Upstairs leased through October 26'. With DADU permitting studio could rent for $1,500+ a month, for $6,040 total. Looking up from the sidewalks of Jersey Street, you'll discover this charming restored Victorian duplex in the desirable Sehome neighborhood. Potential to convert back to a single-family home. Grandfathered as a legal duplex, it sits on a bright, sunny corner lot with territorial views and vistas of Bellingham Bay. Just steps to Sehome Hill Arboretum trails. Upstairs: a 2-level, 2-bed/1-bath unit with private view deck, in-unit laundry, remodeled wrap-around kitchen, and excellent living spaces. Main floor: a spacious 1,128 SF 2-bed/2-bath fully remodeled in 2023 with new kitchen, bathrooms, flooring, lighting, in-unit laundry and smart space planning. A detached 533 sq ft studio awaits your finish-out. 2026 zoning changes streamline ADU approval—offering strong potential to condo-ize or boost total rent toward a pro forma 5.7% cap rate. Proven cash flow in a prime location near WWU and downtown. New roof and skylights, new siding, interior remodels (kitchens plus 2 of 3 baths), 6-zone mini-split system, solar, fencing and amazing landscaping complete this gem. Don't miss it!
Courtesy: Real Broker LLC
855-450-0442
Tobi Smukler
A rare opportunity to own a beautifully updated triplex in one of Bellingham’s most beloved downtown neighborhoods. Located just blocks from the courthouse, professional offices, and PeaceHealth St. Joseph Medical Center, this property offers a lifestyle of connection and convenience, with strong and steady rental potential.Thoughtfully taken down to the studs and rebuilt with care, nothing was left untouched. All new plumbing, electrical, and systems bring the ease of modern living, while the warmth and character of this early 1900s home have been intentionally preserved.The main floor lives like a home of its own, offering a spacious two bedroom layout of approximately 1500 square feet with generous living and dining spaces filled with natural light. Upstairs, two inviting one bedroom units of approximately 700 square feet each create flexibility for long term or mid term rental options.Each unit includes washer and dryer hookups, and the property offers shared basement storage along with off street parking for multiple vehicles, a rare find this close to downtown.Fully permitted and truly turnkey, this is more than an investment. It is a chance to own a piece of Bellingham’s history, thoughtfully brought forward for the way we live today. *property pended + to no fault of the home buyers got cold feet.
Courtesy: Windermere Real Estate Whatcom
360-734-7500
Lorrie Dujmovich
Motivated Seller! Almost an 8% 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: 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: COMPASS
360-233-5033
Michelle Harrington
Beautifully remodeled this duplex is a rare gem located between Campus and Fairhaven—an unbeatable spot just a short walk from Western Washington University's lively community. Whether you're looking for an investment opportunity or a dual-living solution, this property offers flexibility, style, and convenience all in one. Recent updates ensure peace of mind and a fresh aesthetic, with a brand-new roof, gutters, and a crisp exterior paint job. The upper unit features an updated kitchen, three bright bedrooms, and a full bath. Step outside onto the expansive deck—perfect for summer BBQs or simply enjoying the fresh air. The lower unit, with its own private entrance, has been completely updated, boasting a modern one-bedroom suite with a refreshed kitchen and ¾ bath. Every detail has been thoughtfully designed to provide comfort and style, making it ideal for extended living, guests, or rental income. Both units come fully equipped with all appliances, and a shared washer and dryer add an extra layer of convenience for tenants. Nestled in a highly sought-after location, this duplex offers a perfect blend of modern comfort and proximity to everything that makes the area so desirable. Don’t miss the chance to own this move-in-ready property that’s as versatile as it is inviting!
Courtesy: Coldwell Banker Bain
360-734-3420
Nav Narwal
Take advantage of this rare opportunity to own a high-performing 11-unit mobile home park in the desirable Bellingham market. Offering a solid 6% cap rate and low operating expenses, this property delivers strong, reliable returns with a net income exceeding $131,000 annually. The park features a well-balanced unit mix, including one duplex, five park-owned homes, and four space rents. This diversified setup provides multiple income streams while allowing for continued upside through rent adjustments or operational efficiencies. With low expenses and consistent cash flow, this is an ideal asset for investors seeking stability and long-term growth. Located in a high-demand area with limited affordable housing supply, the property benefits from strong occupancy trends and continued appreciation potential. Bellingham’s thriving economy, proximity to major employment hubs, and quality of life make this a highly attractive rental market. Whether you're expanding your portfolio or entering the mobile home park space, this investment offers both immediate income and future upside.
Courtesy: COMPASS
360-233-5033
Jennifer Ryan
Well-maintained 4-plex in a prime location within walking distance to Western Washington University. A rare opportunity for investors to secure a consistently rented property in a high-demand area. Each unit features a 2 bed / 1 bath layout with in-unit stack washer and dryer, great natural light, and private deck space—amenities tenants love. Recent updates include new LVP flooring, fresh interior and exterior paint, and new water heaters, providing a clean, modern feel and added peace of mind for future ownership. Originally built as a four-plex, the design offers comfortable separation and privacy for residents. The property also includes carports, additional off-street parking, and a nicely sized yard with clean, low-maintenance landscaping that adds curb appeal. Located in a quiet neighborhood with a trail at the end of the street leading to the arboretum, offering easy access to nature while still being close to campus. Strong rental history and excellent location make this a standout investment opportunity. Add a reliable, income-producing property to your portfolio—opportunities like this near Western don’t last long.
Courtesy: RE/MAX Whatcom County, Inc.
360-647-1313
Keith Cook
Fully restored Victorian duplex offering immediate income and major future upside in a convenient in-town Bellingham location. Rebuilt down to the studs, this unique property blends historic character with extensive improvements, creating a rare opportunity for investors or buyers seeking both cash flow and long-term potential. As currently configured, the duplex offers projected rental income of approximately $7,300 per month, making it an attractive income-producing asset from day one. Included in the package is the adjacent vacant lot, which previously had a full set of plans for a 4-plex. Together, the restored duplex and additional lot create the potential for a 6-unit overall project, combining current income with future development opportunity. The home itself offers the charm, presence, and architectural detail that only a classic Victorian can provide, while the package as a whole presents a compelling hybrid of existing rental performance and additional build potential. Rare chance to acquire a beautifully restored duplex with flexibility for owner-occupants, investors, or multigenerational living, conveniently located near downtown amenities, shopping, dining, and everyday services.
Courtesy: Windermere Real Estate Whatcom
360-734-7500
Jason Lee
Great opportunity to own 3 sets of single-level duplexes, 6 units total. Each unit features 2 beds / 1 bath, living room w/ vaulted ceilings throughout, in-unit washer/dryer and a single car garage. Strong reliable rental history with path for new owner to improve rental potential. Duplexes are located in a quiet & walkable residential neighborhood offering convenient living for tenants with Costco, Fred Meyer, shopping, restaurants, parks, Bellingham waterfront, airport & I-5 access all only 5 minutes away. Long term tenants in place. Simple single-level building make this a great first multi-family investment opportunity or addition to your portfolio. Additional set of identical duplexes also listed for sale.
Courtesy: Windermere Real Estate Whatcom
360-734-7500
Jason Lee
Great opportunity to own 3 sets of single-level duplexes, 6 units total. Each unit features 2 beds / 1 bath, living room w/ vaulted ceilings throughout, in-unit washer/dryer and a single car garage. Strong reliable rental history with path for new owner to improve rental potential. Duplexes are located in a quiet & walkable residential neighborhood offering convenient living for tenants with Costco, Fred Meyer, shopping, restaurants, parks, Bellingham waterfront, airport & I-5 access all only 5 minutes away. Long term tenants in place. Simple single-level building make this a great first multi-family investment opportunity or addition to your portfolio. Additional set of identical duplexes also listed for sale.
Courtesy: Pacific Continental Realty LLC
360-671-4200
Ryan Martin
Attractive investment opportunity featuring well-maintained units with durable laminate flooring, vinyl windows, upgraded trim and doors, and clean, functional interiors. Each unit is equipped with in-suite washer and dryer, pantry storage, and linen closets - features that enhance tenant appeal and retention. The property benefits from light, open layouts and a highly accessible location directly across from Grocery Outlet and near downtown, supporting consistent rental demand.
Courtesy: RE/MAX Whatcom County, Inc.
360-647-1313
Rachael Wilson
Located in a desirable area of Bellingham, this income-producing property offers strong current cash flow with exceptional long-term development potential. The property includes a recently updated 3-bedroom, 1-bath home renting for $2,500/month and a fully remodeled 2-bedroom, 1-bath apartment bringing $1,600/month. Tenants pay all utilities, and both units feature fully fenced yards and ample off-street parking, creating a low-maintenance investment with a cap rate exceeding 5% at current rents. An unfinished space ready to be built out into a studio apartment provides an immediate value-add opportunity to increase income. The real upside is the development potential. Zoning aligned with the city’s Middle Housing Ordinance allows for 16+ units, ideal for clusters of fourplex-style buildings. With improved street frontage and alley access, the property offers flexibility for phased redevelopment or a larger future project. The large grassy area north of the home may even provide the opportunity to subdivide, build another home, or pursue a smaller development project down the road. Located just minutes from Whatcom Falls Park and the Interurban Trail, the location supports strong rental demand from residents who value Bellingham’s outdoor lifestyle. Hold for income, add a third unit, subdivide, or plan future redevelopment—this is an investment with immediate performance and long-term upside.
Courtesy: eXp Realty
888-421-2531
Donald Oneida
"Investment opportunity! This DUPLEX is located in the heart of Bellingham; only a few blocks from Trader Joe's and a short 5 minute drive to downtown. Each unit boasts an open layout with 2 bedrooms & 2 bathrooms. Each has all appliances including washer/dryer, 4 off street parking spaces and detached storage sheds. Upstairs unit recently (December 2025) underwent full renovation including new vinyl plank flooring, interior paint, electrical switches/receptacles, smoke alarms/CO detectors, interior light fixtures, toilets, range hood, refrigerator, resealed showers, interior/exterior door handles. Downstairs unit has laminate flooring and all new appliances. Exterior was fully renovated in the last 5 years to include a 50 yr metal roof, James Hardie board siding with paint, all exterior windows replaced, fence and deck built! Units are occupied and rented."About a $80,000 or more in updates!
Courtesy: COMPASS
360-233-5033
Alana Mey
Ideal tenant-occupied investment duplex in one of Bellingham’s prime neighborhoods. This well maintained, spacious duplex is being sold with strong income in place and flexible timing. This thoughtfully designed 2006-built duplex features two mirrored 3-bedroom, 2.5-bath units, each with open-concept main-level living, gas fireplace, spacious kitchen with dining area, and attached 2-car garage. All three bedrooms are upstairs with walk-in closets. Two bedrooms share a full bathroom and the primary suite hosts an ensuite bath and private balcony. Enjoy recent refreshing on both sides, including: new roof in 2024, new gutters, bathrooms have new tile, all carpet removed and LVP laid throughout. New handles and hinges elevate the space + refreshed paint. Each unit benefits from their own fenced yard and private 2 car garage. New fence and gate system installed 2023/2024. Both units are currently rented, providing immediate income. Each unit pays +$100/mo w/ rent that goes to water utility. Excellent proximity to shopping, transit, trails, parks, and schools supports consistent demand. A solid, low-maintenance asset well-suited for investors seeking stability with optional repositioning.
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: Windermere Real Estate Whatcom
360-734-7500
Elizabeth Wolfe
Rare 20-plex in fantastic Bellingham location! 3330 Northwest Avenue features twenty 888 SF, 2-bedroom, 2-story townhouse-style units, each with private back patios & in-unit laundry. Continuous low-vacancy & promising future upside potential make this a fantastic investment opportunity. The property, comprised of two 4-plexes & two 6-plexes, backs up to the Bellingham Golf & Country Club, offering a desirable setting & strong tenant appeal. Situated on a spacious lot with 42 parking spaces & an additional ±15,000 SF of vacant land, there’s excellent potential for future expansion or additional units. A well-maintained and income-producing 20-plex in a prime location with upside—perfect for investors seeking long-term stability & growth.
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.
