We are pleased to present this exclusive listing at 490 S State St, Bellingham, WA. This MultiFamily property consists of a 12 Unit Apartment Building and a Two Duplexes on 27,878 SQFT of land. Discover an unparalleled investment opportunity in one of Bellingham’s most coveted locations—South Hill / Fairhaven. With front-row views of Bellingham Bay, this premier site is poised for transformation into a luxury condominium enclave, supporting values in the $1.7M–$2.7M range With a mix of 8 two-bedroom, 7 one-bedroom and 1 four-bedroom, this property offers immediate cash flow potential, grossing $328,020 annually. Enjoy rental income today while envisioning a future of high-end Marine View living. With zoning for unlimited condominiums, the possibilities are vast—renovate, rebuild, or redevelop to maximize value. Sign NDA & email to LA for Additional Info. Additional Parcel #3702011355190000 included. Unit I heated by Gas Power Boiler (located in Basement). Coin Op Laundry Room and Fire Escapes in Apartment Building. Smaller duplex has shared Laundry Room between units. 16 Total Units: Seven 1-Bedroom Units, Eight 2-Bedroom Units, One 4-Bedroom Unit. Units show well - exterior is rough. Duplex Units would be Amazing Owner Occupied Units.