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About the Listing 9947 - 45520
Prime Multifamily Value-Add & Development Opportunity in Ferndale! Located just minutes from schools, parks, and downtown, this rare tri-plex offers immediate cash flow with major future upside. Situated on a Mixed Use Commercial (MXD) zoned lot, NOT in a Flood Zone, this property presents an exceptional chance for investors seeking both stable rental income and expansion potential. The site includes a 1964 yr rambler duplex (1,560 sq ft total) featuring two fully rented 2-bedroom, 1-bath units (780 sq ft each), currently being updated/repaired. Additionally, there is a separate single story 1 bedroom, 1 bathroom, 702 sq ft home currently slated for rehab or removal—opening the door for redevelopment. Exciting possibilities: adding an additional ADU or more units (buyer to verify). Tenants have 3 covered parking spaces with extra storage, pay for garbage, electricity & natural gas. Owner pays Water/Sewer & yard care currently. Strong existing tenants make this a smooth, income-producing investment from day one. Opportunities like this—affordable multifamily with zoning flexibility in a non-flood zone, with room to grow—don’t come around often. Secure your foothold in Ferndale’s expanding market today!
Listing Highlights
Status
Active
Days on Site
5
Property Type
Multi-Family
MLS ®
2455414
Year Built
1964
Total Square Footage
2,262
Lot/Acreage
0.37
Interior Details
- Bedrooms: 5
- Bathrooms: 3 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Vinyl,Carpet
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City of Ferndale
Exterior Details
- Lot Description: Corner Lot,Paved,Fenced-Partially,Gas Available,High Speed Internet,RV Parking,Zoning: Multi-Family
- Garage Capacity: N/A
- Zoning: Multi-Family
- Roof: Composition
- Others: Wood,Fair
- Sewer: City of Ferndale
- Parking Features: RV Parking
Financial Details
- Tax Amount: $3,741
- Taxes w/Assessments: N/A
- Tax/Property ID: 390220214203
- Tax Year: 2025
Payment Calculator
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Questions About..
1954 Eaton Avenue 1-3 Ferndale, WA 98248
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