5
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Listed by:COMPASS • Michelle R Harrington
$890,000
Est. payment /mo
0.26 Acres Lot
Active
0 Byron AVE Bellingham, WA 98225
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Key Details
Property Type Vacant Land
Sub Type Land
Listing Status Active
Purchase Type For Sale
Subdivision Sehome
MLS Listing ID 2494767
Style 40 - Res-Less thn 1 Ac
Annual Tax Amount $1,365
Lot Size 0.260 Acres
Lot Dimensions 74 x 125
Property Sub-Type Land
Property Description
This is an exceptional investment opportunity in Bellingham's thriving Samish Way Urban Village, a designated federal Opportunity Zone. With plans to build 45-55 studio units (initial plans show 40, with potential for an additional 10-15 units), this project offers lucrative potential in a vibrant, mixed-use neighborhood near Western Washington University.The location is ideal—nestled between I-5 and the Sehome/York neighborhoods, the Samish Way Urban Village is designed for 5-7 story developments that promote density, walkability, and connectivity. Nearby, the Samish Commons project is already setting the tone with affordable housing, commercial spaces, and enhanced pedestrian pathways.Investors will also benefit from Bellingham's 8-year Multi-Family Tax Exemption (MFTE) program, available in this area. This incentive provides a property tax exemption on new residential improvements for projects with at least five units, without affordability requirements—a rare opportunity to maximize market-rate returns. At approximately $18K per unit, the numbers make this project even more compelling.Whether developed as high-demand condos or rental apartments, this property aligns with market trends and offers significant tax advantages, including Opportunity Zone incentives for long-term gains. Don't miss your chance to capitalize on this prime location and robust growth potential.
Location
State WA
County Whatcom
Area 860 - Bellingham
Interior
Fireplace false
Exterior
Utilities Available Electricity Available, Natural Gas Available
View Y/N Yes
View Territorial
Building
Lot Description Paved
Sewer Available, In Street
Water Available, In Street
Schools
Elementary Schools Happy Vly Elem
Middle Schools Fairhaven Mid
High Schools Sehome High
School District Bellingham
Others
Senior Community No
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
NEARBY SCHOOL & BUSINESS
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