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.
| MLS # | 2573323 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | Active |
| Year | 1924 |
| Days On Site | 8 |
| Listing Provided By | Windermere RE Whatcom, Inc. | Mike Kooy |
| Bed(s) | 2 |
|---|---|
| Bath(s) | 1 Total |
| SQ Feet | 902 |
| Garage | 2 |
| Story(s) | 1 |
| Acreage | 0.19 |
| Property View | Yes |
| Property | 2808 |
|---|
| State | WA |
|---|---|
| County | Whatcom |
| City | Ferndale |
| Zip Code | 98248 |
| Area | 870 Ferndale | Custer |
| Community Name | Ferndale |
| Listing VS Median (in Ferndale) | |
Price: $395,000 low | high Med: $654,950 sqft: 902 low | high Med: 1,916 $ / sqft: $438 low | high Med: $342 On site: 8 low | high Med: 132 | |
| State | WA |
|---|---|
| County | Whatcom |
| City | Ferndale |
| Zip Code | 98248 |
| Area | 870 Ferndale | Custer |
| Community Name | Ferndale |
| Listing VS Median (in Ferndale) | |
Price: $395,000 low | high Med: $654,950 sqft: 902 low | high Med: 1,916 $ / sqft: $438 low | high Med: $342 On site: 8 low | high Med: 132 | |