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Listed by:KW Lake Washington So • Daniel Sebryakov
$ 900,000
Est. payment | /mo
10,019 Sqft Lot
$ 900,000
Est. payment | /mo
10,019 Sqft Lot
Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Lettered Streets
MLS Listing ID 2490142
Style 40 - Res-Less thn 1 Ac
Lot Size 10,019 Sqft
Property Sub-Type Land
Property Description
Rare development/commercial opportunity in the heart of Old Town Bellingham. This prime site previously had approved permits for a 50-unit multifamily apartment project, qualifies for the Multi-Family Housing Tax Exemption, offering strong financial upside for developers pursuing new residential density in a high-demand urban corridor. History of prior entitlements provides a proven roadmap for redevelopment, allowing flexibility for a revised/expanded vision. The existing improvements support a range of permitted commercial uses including retail, office, creative or design studios, service-based businesses, light production, and mixed commercial occupancy. This flexibility allows an investor or owner-user to generate income by leasing the property over several years while completing design, entitlement, or capital planning for future redevelopment. The property is strategically located minutes from Downtown Bellingham, the Waterfront District, and Western Washington University, with easy access to major transit routes, employment centers, and surrounding neighborhoods. Old Town continues to experience revitalization, with an 84-unit multifamily development currently underway nearby, reinforcing strong housing demand and long-term growth momentum. A rare combination of MFTE eligibility, proven development feasibility, flexible interim commercial use, and a highly desirable central location for investors, developers, or owner-operators. Plans are included in the list price
Location
State WA
County Whatcom
Area 860 - Bellingham
Interior
Fireplace false
Exterior
Utilities Available Electricity Connected
View Y/N No
Building
Sewer Available
Water Available
Schools
School District Bellingham
Others
Senior Community No
Acceptable Financing Cash, Conventional, Lease Purchase, See Remarks
Listing Terms Cash, Conventional, Lease Purchase, See Remarks
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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