Barkley Apartment Homes/Bellingham, WA

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Multifamily

Bellingham, WA

202 Units

Built in 2001

Core Plus

Superior Quality Asset: Built between 2001 - 2003 and situated on over 10 acres, Barkley offers excellent curb appeal with mature landscaping. Exceptionally well-maintained.
Prime Location: Located in the highly sought-after Barkley neighborhood, the property is within walking distance of Barkley Village - a vibrant retail hub with dining, shopping, and entertainment.
Low Incoming Supply: Bellingham, and particularly the Barkley submarket, is well-positioned for outsized rent growth in the coming years due to a systemic supply / demand imbalance.
Light Value-Add Opportunity: Nearly all units maintain their original early 2000's finishes. An incoming investor the ability to cosmetically upgrade units and capitalize on rental upside across the rent roll. Additional upgrades to common areas and amenities could further boost asset performance and tenant appeal.
Attractive Going-in Cash Yield: Current operations provide strong in-place cash flow, providing an investor with immediate income and an attractive "day-one" yield with upside potential.
Close Proximity to Major Employers: Minutes from key employers including Janicki Industries, PeaceHealth St. Joseph Medical Center, Western Washington University, and major regional office hubs. Broader employment centers in Whatcom and Snohomish County are easily accessible via nearby Interstate 5.