About this home

4.54-acre multifamily development site on Portal Way in Ferndale, with quick access to I-5. Site plans have already been prepared for a proposed five-story, 21,780 SF multifamily building with surface parking, stormwater vault, and modular wetland treatment. The property sits in a fast-growing submarket, with the immediate area projected to grow more than 4% annually through 2031! The area draws a mix of renter profiles. Household incomes across the area run above county norms, supporting strong achievable rents. A strong multifamily development opportunity for a developer, builder, or investor!

Schools

Elementary

Cascadia Elem

Middle

Vista Mid

High

Ferndale High

Property details

Water source: Available
Sewer: Available
Utilities: Electricity Available, Natural Gas Available

Costs

Annual taxes: $2,575 (2026)

Estimate your monthly payment

$7,268/mo

Principal & interest: $7,054
Property taxes: $215

Down payment (20%) $279,000 Interest rate (%) Loan term (years)

Loan amount $1,116,000

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 Muljat Group— Troy C. Muljat.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.

Interested in this home?

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