Lion Head Apartments

Multi-Family: Low-Rise

8583 Vinup Rd, LyndenWA 98264

Property Details

Location

Address
8583 Vinup Rd, LyndenWA 98264
County
Whatcom
Submarket
CBA Whatcom County
Parcels
4003162551250000

Building Size

Building Size
22,936 SF

Building Details

Type
 Multi-Family: Low-Rise
Number of Buildings
2
Number of Units
22
Occupancy Type
Multi-tenant
Percent Occupied
100%
Building Class
Building Status
Existing
Floors
3
Year Built
1992
Sprinklers
Parking Ratio

Land & Utilities

Land (Acres)
0.85 Acres
Land (SF)
37,026 SF
Zoning
RM4
Lot Depth
Lot Width

Contacts

Current Listings

Lion Head Apartments

$5,250,000
Cap Rate: 6.43%

Lion Head Apartments is a 22-unit apartment complex located in Lynden, Washington. Built in 1992, the property sits on a 0.85 acre lot and is made up of two buildings. The unit mix includes spacious two and three-bedroom units ranging between 913 and 1,628 square feet. Unit amenities include a full kitchen, air conditioning, balcony, fireplace, and party walls for improved noise isolation. Site amenities include storage space, and on-site parking and garage.

Lynden is the second largest city in Whatcom County, Washington. It is located 15 miles north of Bellingham and approximately 5 miles south of the Canada–US border. Local employers include BP Cherry Point, the largest oil refinery in Washington State, Intalco Aluminum, which just received $10 million in taxpayer support, and many others in the nearby city of Bellingham. The current market vacancy rate is 1.80%. The property is currently 100% occupied.

Lion Head Apartments is great for families as the property is near major employers, schools, and recreational activities. Many major employers are less than a 30-minutes away by car, Lynden High School is across the street and Lynden City Park, one of the city’s finest parks is just a four-minute drive away.

Lion Head Apartments is well positioned to capture a quality pool of renters who are seeking affordable, yet spacious units to call home in a well-located area. It offers an investor a great opportunity to capitalize in a market with low vacancy.

Lion Head Apartments is a 22-unit apartment complex located in Lynden, Washington. Built in 1992, the property sits on a 0.85 acre lot and is made up of two buildings. The unit mix includes spacious two and three-bedroom units ranging between 913 and 1,628 square feet. Unit amenities include a full kitchen, air conditioning, balcony, fireplace, and party walls for improved noise isolation. Site amenities include storage space, and on-site parking and garage.

Lynden is the second largest city in Whatcom County, Washington. It is located 15 miles north of Bellingham and approximately 5 miles south of the Canada–US border. Local employers include BP Cherry Point, the largest oil refinery in Washington State, Intalco Aluminum, which just received $10 million in taxpayer support, and many others in the nearby city of Bellingham. The current market vacancy rate is 1.80%. The property is currently 100% occupied.

Lion Head Apartments is great for families as the property is near major employers, schools, and recreational activities. Many major employers are less than a 30-minutes away by car, Lynden High School is across the street and Lynden City Park, one of the city’s finest parks is just a four-minute drive away.

Lion Head Apartments is well positioned to capture a quality pool of renters who are seeking affordable, yet spacious units to call home in a well-located area. It offers an investor a great opportunity to capitalize in a market with low vacancy.

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Commercial Location Score (CLS) is a scoring system developed by Moody's Analytics to help commercial real estate professionals gain a quick understanding of the major factors that affect the value of a location. It's designed as a means to consistently evaluate a location's suitability/desirability for a particular use based on a number of factors.

BROKER

Source: CBA

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