Glencairn Apartments (Status: Pending)
222, Commercial St, Bellingham, WA 98225
The Glencairn Apartments were constructed in 1915 in Bellingham’s downtown commercial core in Bellingham’s designated Opportunity Zone. This 21 unit historical building recently underwent many capital improvements with major plumbing and electrical upgrades yet leaving the vintage look with claw foot tubs and built in cabinets. The heating system has been upgraded to a high efficiency gas boiler that provides heat throughout the building by vintage style radiators. The property includes on-site parking which is rare for the location as an additional revenue source. Leases are well below market rents and should easily be able to perform at a 7% cap with minor unit upgrades.
Asset Class: Multi-Family
Year Built: 1915
Building Total Square Feet: 16320
Available Lease Space Square Feet:
Number of Floors: 3
Total Parking Spaces: 8
Local Zoning Information: Commercial Core
Listing Courtesy of: Pacific Continental Realty, LLC
Disclaimer: The information contained in this listing has not been verified by North Sound Commercial, a division of Pacific Continental Realty, LLC and should be verified by the buyer, seller, or tenant.
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