Properties Sold

The Tens Apartments
$7,200,000

The Tens Apartments
1011 & 1019 21st St, Bellingham, WA
19-Unit

 

‘The Tens’ is comprised of two apartment buildings on a single tax parcel in Bellingham’s Happy Valley neighborhood. ‘The Ten Nineteen’ building was constructed in 2003 and consists of nine 3bed/3bath units. ‘The Ten Eleven’ building was completed in 1992 and has eight 4bed/2bath units & two 3bed/2bath units. Both buildings have been exceptionally well-maintained, and these units are always in high demand among students.

Multifamily properties in this area are also highly sought after by investors, and this particular property had never changed hands prior to our listing. Within two weeks of bringing ‘The Tens’ to market, we helped the seller decide between several incredibly competitive offers and ultimately closed $50K over list price at $7,200,000!

 

Current Cap Rate4.90%
Market Cap Rate5.74%
Built2003 & 1992
Price per SqFt$341
Price per Unit$379,000

 

 

Listing Agents

Aaron Locke
P: 206.774.5436
E: Email Aaron

Ethan Szmania
P: 206.774.5419
E: Email Ethan

Seattle Commercial Real Estate Brokerage With a Difference!