4.54-acre multifamily development site on Portal Way in Ferndale, with quick access to I-5. Site plans have already been prepared for a proposed five-story, 21,780 SF multifamily building with surface parking, stormwater vault, and modular wetland treatment. The property sits in a fast-growing submarket, with the immediate area projected to grow more than 4% annually through 2031! The area draws a mix of renter profiles. Household incomes across the area run above county norms, supporting strong achievable rents. A strong multifamily development opportunity for a developer, builder, or investor!
| MLS # | 2578502 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Days On Site | 17 |
| Listing Provided By | Muljat Group | Troy C. Muljat |
| Zoning | RMM |
|---|---|
| Acreage | 4.54 |
| Property | 2575 |
|---|
| State | WA |
|---|---|
| County | Whatcom |
| City | Ferndale |
| Zip Code | 98248 |
| Area | 870 Ferndale | Custer |
| Community Name | Ferndale |
| School District | Ferndale High |
| Elementary School | Cascadia Elem |
| High School | Ferndale High |
| Listing VS Median (in Ferndale) | |
Price: $1,395,000 low | high Med: $652,425 On site: 17 low | high Med: 88 | |
| State | WA |
|---|---|
| County | Whatcom |
| City | Ferndale |
| Zip Code | 98248 |
| Area | 870 Ferndale | Custer |
| Community Name | Ferndale |
| School District | Ferndale High |
| Elementary School | Cascadia Elem |
| High School | Ferndale High |
| Listing VS Median (in Ferndale) | |
Price: $1,395,000 low | high Med: $652,425 On site: 17 low | high Med: 88 | |