5698 2nd Avenue, Ferndale, WA 98248
- $649,744
Listing courtesy of Windermere RE Whatcom, Inc..
- List Price
- $649,744
- Status
- ACTIVE
- MLS#
- 2507681
- Days on Market
- 176
- Annual Tax Ammount
- 4446
Property Description
Incredible investment opportunity in Ferndale! Tucked at the end of a dead-end street and close to schools, parks, and downtown, this duplex sits on a lot zoned for up to SIX units, providing cash flow now and tons of future upside. Site features two fully rented, standalone units and completed dirt-work for additional units behind. Alley access and private parking spots accommodate up to 12 vehicles, paving the path to bring this property to its highest potential. 5698 (left side unit) is a 2-bed/1-bath unit while 5696 (right side) is a 1/1 with a 200sqft storage area below and a partially finished 200sqft office above, plumbed for a bathroom. 600sqft shop can be used for storage or removed to put in additional units. 5698 built in 2004 + 5696 was finished in 2025. Both units in excellent shape, with LVP flooring, and are individually metered. Excellent current tenants, too. A rare, affordable opportunity for immediate rental income and significant development potential!
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Additional Information
- Community
- Ferndale
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 2004
- # of Assigned Spaces
- 14
- Roof
- Composition
- Tax Year
- 2026
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Flooring
- Laminate
- Driving Directions
- From I-5, take Exit 263 to Portal Way. Turn West on Portal way, continue into slight left on 2nd Ave. Property at end of street on left. Address visible from street.
- Energy Source
- Electric
- Net Operating Income
- $26,954
- Gross Scheduled Income
- $32,400
- Cap Rate
- 4.14
- Total Expenses
- $5,446
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