About this home

Fantastic multifamily development opportunity in the heart of downtown Ferndale. The value is in the land, with architectural and civil design complete for a 9-unit apartment building with an optional retail component along the 3rd Avenue frontage. The completed design work is included in the sale, offering significant time and cost savings for a future developer. City of Ferndale Urban Residential (UR) zoning provides flexibility for mixed commercial and/or high-density residential development. Conveniently located within walking distance of shopping, restaurants, and grocery stores, with quick access to I-5, this property is well positioned for strong long-term rental demand. The existing 2-bedroom home, 2-car garage, and two outbuildings are in need of updating and would require rehabilitation if a buyer intends to preserve and utilize the existing improvements.

Exterior features

Wood

Property details

Heating: Forced Air
Cooling: None
Parking: Driveway, Detached Garage, Off Street
View: City, Mountains, See Remarks, Territorial
Lot: Curbs, Paved, Sidewalk
Water source: See Remarks
Sewer: Sewer Connected
Levels: One

Costs

Price / sq ft: $438
Annual taxes: $2,808 (2026)

Estimate your monthly payment

$2,231/mo

Principal & interest: $1,997
Property taxes: $234

Down payment (20%) $79,000 Interest rate (%) Loan term (years)

Loan amount $316,000

Estimate only — excludes homeowner's insurance and PMI. Rates shown are not a quote. Talk to us to connect with a lender.

Location

Ferndale, WA 98248

Approximate location. Contact us to confirm the exact address.

Listing courtesy of Windermere RE Whatcom, Inc.— Mike Kooy.Listing data courtesy of the Northwest Multiple Listing Service (NWMLS). Information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal.

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