5698 2nd Avenue, Ferndale, WA 98248
- $649,744
- 1,500
- SqFt
Listing courtesy of Windermere RE Whatcom, Inc..
- List Price
- $649,744
- Status
- ACTIVE
- MLS#
- 2475460
- Days on Market
- 175
- Style
- 52 - Duplex
- Finished SqFt
- 1,500
- Area Total SqFt
- 1500
- Annual Tax Ammount
- 4446
- Internet Provider
- Xfinity
- Lot Size (sq ft)
- 17,424
- Sewer
- Sewer Connected
Property Description
Incredible investment opportunity in Ferndale! Tucked at the end of a dead-end street and close to schools, parks, and downtown, this duplex sits on a lot zoned for up to SIX units, providing cash flow now and tons of future upside. Site features two fully rented, standalone units and completed dirt-work for additional units behind. Alley access and private parking spots accommodate up to 12 vehicles, paving the path to bring this property to its highest potential. 5698 (left side unit) is a 2-bed/1-bath unit while 5696 (right side) is a 1/1 with a 200sqft storage area below and a partially finished 200sqft office above, plumbed for a bathroom. 600sqft shop can be used for storage or removed to put in additional units. 5698 built in 2004 + 5696 was finished in 2025. Both units in excellent shape, with LVP flooring, and are individually metered. Excellent current tenants, too. A rare, affordable opportunity for immediate rental income and significant development potential!
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Additional Information
- List Date
- 2026-02-05 21:07:13
- Community
- Ferndale
- Net Operating Income
- $26,954
- Gross Scheduled Income
- $32,400
- Total Monthly Income
- $2,700
- Insurance Expenses
- $1,000
- Gross Rent Multiplier
- 20.05
- Total Expenses
- $5,446
- Cap Rate
- 4.14
- Total Number of Units
- 2
- Unit Name
- 5698
- Potential Terms
- Cash, Conventional, Owner Will Carry
- Year Built
- 2004
- View
- Territorial
- Roof
- Composition
- Site Features
- Cable TV, Outbuildings, RV Parking, Shop
- Energy Source
- Electric
- School District
- Ferndale
- Elementary School
- Central Elem
- Middle School
- Vista Mid
- High School
- Ferndale High
- Total Monthly Income
- $2,700
- Gross Scheduled Income
- $32,400
- Tax Year
- 2026
- Insurance Expense
- $1,000
- Total Expenses
- $5,446
- Net Operating Income
- $26,954
- Gross Rent Multiplier
- 20.05
- Cap Rate
- 4.14
Based on information submitted to the MLS GRID as of . 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, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.