2124 Woburn Street, Bellingham, WA 98229
- $875,000
- 1,272
- SqFt
Listing courtesy of RE/MAX Whatcom County, Inc..
- List Price
- $875,000
- Status
- ACTIVE
- MLS#
- 2538986
- Days on Market
- 137
- Style
- 52 - Duplex
- Finished SqFt
- 1,272
- Lot Size (sq ft)
- 15,246
Property Description
Located in a desirable area of Bellingham, this income-producing property offers strong current cash flow with exceptional long-term development potential. This property includes TWO homes: 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.
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Additional Information
- List Date
- 2026-03-11 20:43:15
- Community
- Roosevelt
- Potential Terms
- Cash, Conventional
- Year Built
- 1916
- Roof
- Composition
- Site Features
- Fenced-Fully, High Speed Internet, Outbuildings, Patio
- School District
- Bellingham
- High School
- Bellingham High
- Gross Scheduled Income
- $50,400
- Gross Adjusted Income
- $50,400
- Tax Year
- 2026
- Insurance Expense
- $1,717
- Total Expenses
- $6,520
- Cap Rate
- 5
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Based on information submitted to the MLS GRID as of . 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.