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Listed by:Windermere RE Whatcom, Inc. • Mike Kooy
$395,000
Est. payment /mo
8,276 Sqft Lot
UPDATED:
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Ferndale
MLS Listing ID 2572744
Style 42 - Multi-Family
Annual Tax Amount $2,808
Lot Size 8,276 Sqft
Property Sub-Type Land
Property Description
Fantastic multifamily development opportunity in the heart of downtown Ferndale. The value is in the land, with architectural and civil design complete for a 9-unit apartment building with an optional retail component along the 3rd Avenue frontage. The completed design work is included in the sale, offering significant time and cost savings for a future developer. City of Ferndale Urban Residential (UR) zoning provides flexibility for mixed commercial and/or high-density residential development. Conveniently located within walking distance of shopping, restaurants, and grocery stores, with quick access to I-5, this property is well positioned for strong long-term rental demand. The existing 2-bedroom home, 2-car garage, and two outbuildings are in need of updating and would require rehabilitation if a buyer intends to preserve and utilize the existing improvements.
Location
State WA
County Whatcom
Area 870 - Ferndale/Custer
Interior
Fireplace false
Exterior
Utilities Available Electricity Connected, Natural Gas Available
View Y/N Yes
View City, Mountains, See Remarks, Territorial
Garage Yes
Building
Lot Description Curbs, Paved, Sidewalk
Sewer In Street, On Property
Water Available, In Street, On Property, See Remarks
Schools
School District Ferndale
Others
Senior Community No
Acceptable Financing Cash, Conventional, Rehab Loan, VA Loan
Listing Terms Cash, Conventional, Rehab Loan, VA Loan
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