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Listed by: Ian Steger (360) 220-5113 | Muljat Group (360) 733-3030
$1,550,000
Monthly Est:$7,715
23 Beds
9 Baths
8,184sqft
1955 Eaton Ave, Ferndale, WA 98248
$1,550,000
$7,715/moEst:
Get Pre-Approved
Multi Family
Built in 1969
$-- HOA
17,424 sqft lot
$189/sq.ft
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.
- Houzeo last checked: 12 hours ago
- Listing updated: September 25, 2026 at 1:09 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2571429
Property Details
Status
Active
Type
Multi Family
No. of Stories
2
County
City
Neighborhood
--
Year Built
1969
HOA Fees
-
Finished Area
8,184 sqft
Lot Size
17,424 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2571429
MLS Status
Active
Days on Market
41
Cumulative Days on Market
40
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 23
Bathrooms: 9
Interior
Exterior Features
See Remarks
Sewer
Sewer Connected
Heating
See Remarks
Cooling
None
Construction
Year Built
Year Built: 1969
Home type
Multi Family
Roof
Composition
Foundation Details
Poured Concrete
Construction Materials
See Remarks
Utilities & Energy
Water Source
Community
Other Features
Lot Features
Paved
Subdivision Name
Ferndale
Price History
| Date | Event | Price |
|---|---|---|
08/21/2026 Source: | Listed for Sale | $1,550,000 $189/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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