Bought with Keller Williams Western Realty
$305,000
$350,000
12.9%For more information regarding the value of a property, please contact us for a free consultation.
124 Mitchell ST Sumas, WA 98295
0.33 Acres Lot
Key Details
Sold Price $305,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Subdivision Sumas
MLS Listing ID 1952840
Sold Date 07/29/22
Style 54 - 4-Plex
Year Built 1955
Annual Tax Amount $3,279
Lot Size 0.328 Acres
Property Sub-Type Multi-Family
Property Description
Fantastic opportunity. 4-plex in Sumas. Currently in a state of disrepair. Buy & fix. Projected Rents will be easily $1200, similar units owned by Seller in Sumas are renting at $1250. The estimated projected Cap Rate is 8.5% and the fix up cost are estimated at $150k. This can be a updated new 4-plex for $500,000 to $550,000 total costs. The units are all ground floor, level access. Nice open layout. Single level is not only great for tenants but also for easy maintenance of the exterior and roof. Large lot and plenty of parking, with 12 spaces plus off street as well. Flood insurance is $2588 per year and is included in the expenses for determination of Capitalization Rate. Flippers, investors- one-of-a-kind opportunity investment!!
Location
State WA
County Whatcom
Area 890 - Nooksack Valley
Interior
Fireplace false
Exterior
Exterior Feature Cement/Concrete, Wood Products
Utilities Available Sewer Connected, Electric
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
Water Public
New Construction No
Schools
Elementary Schools Sumas Elem
Middle Schools Nooksack Vly Mid
High Schools Nooksack Vly High
School District Nooksack Valley
Others
Senior Community No
Acceptable Financing Cash Out, Rehab Loan
Listing Terms Cash Out, Rehab Loan
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