617 Cherry St - Apartments FOR SALE


Sumas, WA 98295
$1,150,000 USD
206-333-4116
617 Cherry St, Sumas, WA for Sale
$1,150,000 USD
Apartments - FOR SALE
1/7
null | 5.36% Cap Rate

617 Cherry St
Sumas, WA 98295


HIGHLIGHTS

  • Turnkey mixed-use building located within a short walk to the Huntingdon Border Crossing and within close proximity to Bellingham.
  • All residential units have been renovated since 2019 and common space between commercial and residential units has been renovated as well.
  • Opportunity for new ownership to achieve an additional 10% in monthly rental income by meeting achieved market rents.
  • Ability to achieve consistent additional monthly income through long term commercial tenants.

OVERVIEW

Northmarq is pleased to present the Sumas Professional Building, a mixed-use building with four residential units and four commercial units. Built in 1920, the property has been well maintained and recently underwent renovations in 2019 to both the unit interiors and exterior of the building. Interior renovations include new carpets, LVP flooring, countertops, cabinets, and appliances. The property’s location down the street from the Huntingdon Border Crossing provides tenants easy access to Abbotsford as well as a short drive back to Bellingham. With its proximity to the Canadian border there is a desire for Canadian businesses to have a U.S. office which is being utilized in several of the commercial spaces.

FOR SALE DETAILS

PRICE

$1,150,000 USD

PRICE/SF

$178 USD /SF

# OF UNITS

4

PRICE/UNIT

$287,500

CAP RATE

5.36%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1920

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.09 AC

LAND SF

3,920 SF

ZONING

BG

APN/PARCEL ID

410434-508192-0000

ASK ABOUT THIS PROPERTY

Brendan GreenheckNorthmarqMore Info
206-333-4116

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Brendan GreenheckNorthmarqMore Info
206-333-4116

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.