631 N forest Street, Bellingham, WA 98225
- $915,000
- 3,665
- SqFt
Listing Broker: Hansen Group Real Estate Inc; Ashleigh Abhold; ; Selling Office: Hammer Properties NW Inc..
- Sold Price
- $915,000
- List Price
- $1,000,000
- Status
- SOLD
- MLS#
- 2555189
- Closing Date
- Aug 14, 2026
- Days on Market
- 32
- Style
- 54 - 4-Plex
- Finished SqFt
- 3,665
- Area Total SqFt
- 3665
- Annual Tax Ammount
- 8845
- Lot Size (sq ft)
- 12,052
- Sewer
- Sewer Connected
Property Description
Rare Sehome Hill investment and development opportunity! Situated on a 12,056 sq. ft. lot with stunning bay and city views, this property features an existing triplex plus a detached carriage house just two blocks from WWU. Remodeled carriage house in 2025 which offers 2 bedrooms, 2 bathrooms, private laundry, and dedicated parking below. Triplex features three units full of timeless character, including original fir floors and shared laundry, with a strong rental history and consistent demand due to its prime location. Five total designated parking spaces provide added convenience for tenants. True value lies in the land. Zoned High Density with no maximum unit count, this property offers incredible infill development potential. Retain the existing income-producing structures while adding additional units or explore redevelopment options to maximize the site's density and breathtaking views. Located near Forest & Cedar Park, downtown Bellingham, and Western Washington University, opportunities like this are increasingly rare. Buyer to verify all development potential and zoning requirements. Don't miss your chance to own a premier investment property in one of Bellingham's most sought-after neighborhoods.
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Additional Information
- List Date
- 2026-07-13 00:00:00
- Community
- South Hill
- Net Operating Income
- $57,363
- Gross Adjusted Income
- $86,940
- Gross Scheduled Income
- $86,940
- Total Monthly Income
- $7,245
- Insurance Expenses
- $2,805
- Water/Sewer/Garbage Expenses
- $5,085
- Gross Rent Multiplier
- 11.5
- Total Expenses
- $29,577
- Cap Rate
- 5.74
- Total Number of Units
- 4
- Unit Name
- 631
- Potential Terms
- Cash, Conventional
- Year Built
- 1908
- View
- Bay
- Roof
- Shake
- Site Features
- High Speed Internet
- Other Expenses
- 12842
- Energy Source
- Electric
- School District
- Bellingham
- Total Monthly Income
- $7,245
- Gross Scheduled Income
- $86,940
- Gross Adjusted Income
- $86,940
- Tax Year
- 2026
- Insurance Expense
- $2,805
- W/S/G Expenses
- $5,085
- Total Expenses
- $29,577
- Net Operating Income
- $57,363
- Gross Rent Multiplier
- 11.5
- Cap Rate
- 5.74
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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.