2325 Ferndale Terrace
Ferndale, WA 98248

Offering four 4-plexes, each on its own tax parcel, the 16 units are being sold together. The 4-plexes share a common parking and garbage collection area. Constructed in 1990, all units are 2 bedroom/one bath with washer/dryer hookups and gas fireplaces. Condition is average with newer roof, vinyl siding is easy to maintain. Appliances, floor covering, carpets and vinyl floors are replaced as needed. The units are fully occupied, with vacancies being filled at $1200/month. Five units are now at $1200/mo. There is a huge upside potential for new owner/manager to increase rents which are averaging just $995/month. Bring the remaining units to current market rents ($1200/mo) would increase GSI by $40,000/yr.