Ferndale Apartment Buildings for Sale
The current population of Ferndale is 15,623 (2021) with an annual growth rate of 2.38%. While the current rate of homeownership is 69.5% (US Census 2019 ACS 5-Year Survey) is high relative to Bellingham’s homeownership rate of 46%, there is still opportunity to invest in Ferndale apartment buildings with 4,765 renters in 2021. Per the 2016 City of Ferndale Comprehensive Plan, there was a total of 1,116 multi-family units across the inventory of Ferndale apartment buildings. At this time, there is a shortage of housing in Ferndale with a handful of new apartment building projects in the works.
Apartment Buildings For Sale in Ferndale
- Available SQ. FT.
- Building SQ. FT. 1604
- Cap Rate:
- LOT SQ. FT. 429066
- Year Built: 1979
- CBA #: 655277
Apartment Buildings for Sale in Ferndale Washington
Multi-family units include structures containing three or more dwelling units, apartments, and condominiums. The bulk of the 1,087 multi-family housing units are located near downtown Ferndale, north of downtown Ferndale and along Main Street. A few apartment buildings are also scattered along Portal Way, just east of the freeway along the eastern border of Ferndale city limits. All of these units are within walking distance of downtown Ferndale, or are near the bus route operated by the Whatcom Transportation Authority (WTA). Most of Ferndale’s apartment buildings are located in the RM 1.5 zone.