$1,550,000
( )
 $8,321 est/mo Sourced by Back At You

1955 Eaton Avenue,Ferndale, WA 98248

Ferndale, WA 98248

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Description

9-Unit Multifamily Investment property with 6.3% Cap Rate. This income opportunity comprised of two well-maintained, adjacent properties in a great investment area of Ferndale: a 6-unit building at 1955 Eaton St and a triplex at 5825 Portal. All 9 units are currently occupied, with a strong base of long-term renters providing stable, in-place income, and the property sits outside the flood plain. The unit mix includes 6 three-bedroom, one-bath units, 2 two-bedroom, one-bath units, and 1 one-bedroom, one-bath unit, with rents ranging from $1,300 to $1,700 per month. The location is minutes from downtown shopping and restaurants, with easy access to parks, schools, freeway and the bus line. Highlights include on-site laundry, ample parking, an enclosed courtyard that adds a layer or privacy, and a new roof installed in 2025 on the triplex unit. The property is zoned RM High Density, offering potential upside for additional units (buyer to verify with the city). With a 6.2% cap rate, consistent occupancy, and a strong location in a growing investment area, this is a solid addition to any income portfolio. Buyer to verify all information, including zoning potential, square footage, and income/expense details.

Details

MLS #2572692
Listing TypeFor Sale
StyleCommercial Industrial
Sub-TypeResale
StatusActive
Year1969
Days On Site20
Listing Provided ByMuljat Group | Ian Steger

Features

ZoningMulti-Family,Residential
Acreage0.40

Taxes

Property11958

Area Information

StateWA
CountyWhatcom
CityFerndale
Zip Code98248
Area870 Ferndale | Custer
Community NameFerndale
Listing VS Median (in Ferndale)
Price:
$1,550,000
low | high
Med:
$659,000
100% of Average
On site:
20
low | high
Med:
12
100% of Average
Sourced by Back At You

Market Activity 98248

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Learn More About This Property

StateWA
CountyWhatcom
CityFerndale
Zip Code98248
Area870 Ferndale | Custer
Community NameFerndale
Listing VS Median (in Ferndale)
Price:
$1,550,000
low | high
Med:
$659,000
100% of Average
On site:
20
low | high
Med:
12
100% of Average
Sourced by Back At You
Nearby Listings (Within 1/10 mile)
Price: $1.162M - $1.937M
sqft: 0 - 0
Nearby Listings Property ImageNearby Listings Details
1955 Eaton Avenue Property Photo 1
$1,550,000
1955 Eaton Avenue
Ferndale, WA 98248
1934 Somerset Street Property Photo 1
$615,000
1934 Somerset Street
Ferndale, WA 98248
Listing Updated: August 21, 2026 at 2:07:30 PM PDT