9-Unit Multifamily Investment property with 6.3% Cap Rate. This income opportunity comprised of two well-maintained, adjacent properties in a great investment area of Ferndale: a 6-unit building at 1955 Eaton St and a triplex at 5825 Portal. All 9 units are currently occupied, with a strong base of long-term renters providing stable, in-place income, and the property sits outside the flood plain. The unit mix includes 6 three-bedroom, one-bath units, 2 two-bedroom, one-bath units, and 1 one-bedroom, one-bath unit, with rents ranging from $1,300 to $1,700 per month. The location is minutes from downtown shopping and restaurants, with easy access to parks, schools, freeway and the bus line. Highlights include on-site laundry, ample parking, an enclosed courtyard that adds a layer or privacy, and a new roof installed in 2025 on the triplex unit. The property is zoned RM High Density, offering potential upside for additional units (buyer to verify with the city). With a 6.2% cap rate, consistent occupancy, and a strong location in a growing investment area, this is a solid addition to any income portfolio. Buyer to verify all information, including zoning potential, square footage, and income/expense details.

Courtesy of NWMLS
Listing courtesy of Ian Steger of Muljat Group



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Last checked: 2026-09-09 11:37 PM PDT