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Bellingham, WA, 98225 • Sehome • Whatcom County
0.26 acLot
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Res-Less thn 1 Ac Style
Res-Less thn 1 Ac architecture
Sehome
Sehome
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18 days on market
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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.
Based on current rates
Est. 6.18% rate · 30yr fixed · $712,000 loan
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3 schools rated nearby
Bellingham, WA, 98225
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Bellingham, WA • Whatcom County
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Based on information submitted to the MLS GRID as of 2026-04-07 08:18:34 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. [Click here for more information](/mls-disclaimers/#39)
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