Browse Bellingham apartment buildings and multifamily properties for sale, from duplexes, triplexes and fourplexes to larger apartment buildings and mixed-use income properties. We work with investors buying and selling buildings of every size, from a single duplex to apartment complexes with five or more units.
Bellingham Multifamily Market · October 2026
Northwest MLS figures as of October 7, 2026. See the full Bellingham Multifamily Market Report.
For sale now: As of November 2, 2026, 28 multifamily properties are listed on the Northwest MLS, including duplexes to fourplexes, and 5 apartment buildings with 17 to 50 units are listed on the Commercial Brokers Association (CBA) MLS. Our listings below pull from both.
For Sale Now in Bellingham
Current Listings
Updated directly from the MLS
Talk to us about Bellingham multifamily
Helping buyers and sellers across Bellingham and Whatcom County
Be first to see new listings
New apartment buildings for sale in Bellingham, sent to your inbox as soon as they hit the market.
Thank you! I'll send new Bellingham apartment building listings straight to your inbox.
Duplexes, Triplexes and Fourplexes for Sale in Bellingham
Duplexes, triplexes and fourplexes are some of the most popular investment properties in Bellingham. Many sit in established neighborhoods close to Western Washington University, downtown and Fairhaven.
Bellingham Multifamily Sales · 12 Months Ending October 2026
Source: Whatcom County Assessor’s Office, sales of $100,000+.
In the 12 months ending October 2026, duplexes to fourplexes were the most frequent investment sale in Bellingham, with 41 sales and a median of about $725,000. Sunnyland, Roosevelt, York and Fairhaven see steady activity. Larger apartment buildings trade less often but bring the biggest dollar amounts, with 19 Bellingham buildings of 5 or more units selling for a combined $235 million from October 2024 to October 2026.
Apartment Buildings and Apartment Complexes for Sale in Bellingham
Bellingham apartment buildings with 5 or more units range from smaller buildings near $1.1 million to large apartment complexes over $50 million. In the 12 months ending October 2026, 7 apartment buildings sold in Bellingham, with a median price of about $1.8 million. From October 2024 to October 2026, 19 sold for a combined $235 million, including four large complexes that each sold for more than $27 million.
Buyers include local investors moving up from fourplexes, regional owners adding to their portfolios and national buyers. Larger apartment buildings are often found near Western Washington University (WWU), downtown, Fairhaven and along the Guide Meridian.
Source: Whatcom County Assessor’s Office, sales of $100,000+.
What Investors Weigh in Bellingham
Multifamily buyers in Bellingham range from duplex buyers to owners of larger apartment buildings. Most compare the same things: income and expenses, the building’s condition and upcoming capital costs, financing, and location near employers, downtown and Western Washington University. Recent sales of similar buildings help set realistic pricing on both sides.
Types of Multifamily Investment Properties
Duplexes, Triplexes, and Fourplexes
Smaller multifamily assets remain active because they offer entry points into income-producing real estate while still appealing to experienced investors.
Apartment Buildings
Apartment buildings offer scalable income and are often sought by investors focused on long-term cash flow, appreciation, or repositioning opportunities.
Mixed-Use Income Properties
Some investors pursue mixed-use assets that combine residential income with commercial tenancy.
Value-Add Multifamily Opportunities
Properties with deferred upgrades, below-market rents, or operational inefficiencies may create repositioning opportunities for experienced investors.
Bellingham Multifamily Market FAQs
Do you help buyers and sellers of large apartment complexes?
Yes. Josh and Jolene Baijot help investors buy and sell large apartment complexes and apartment buildings with five or more units, as well as duplexes, triplexes and fourplexes, in Bellingham and across Whatcom and Skagit counties. Call us at (360) 223-4501.
What qualifies as a multifamily property in Bellingham?
Multifamily real estate generally includes duplexes, triplexes, fourplexes, apartment buildings, and other residential income-producing properties with multiple units under common ownership.
Is Bellingham a good market for multifamily investing?
It depends on the building and your goals. In the 12 months ending October 2026, 41 duplexes to fourplexes and 7 apartment buildings with 5 or more units sold in Bellingham, according to Whatcom County Assessor’s Office records, so there are recent sales to compare.
Are apartment buildings available in Bellingham?
Yes, though inventory can be limited depending on market conditions. Available opportunities may range from smaller residential income properties to larger apartment assets.
Are duplexes for sale in Bellingham?
Yes. Duplexes, triplexes and fourplexes make up a large share of Bellingham’s multifamily listings, and many are in established neighborhoods like York, Sunnyland, Columbia and Sehome. In the 12 months ending October 2026, 41 duplexes, triplexes and fourplexes sold in Bellingham, typically for about $620,000 to $1.2 million, according to Whatcom County Assessor’s Office records.
What do duplexes sell for in Bellingham?
In the 12 months ending October 2026, 41 duplexes, triplexes and fourplexes sold in Bellingham at a median of about $725,000, with most selling between $620,000 and $1.2 million. Source: Whatcom County Assessor’s Office, sales of $100,000+.
How many duplexes are for sale in Bellingham right now?
As of October 7, 2026, there were 28 multifamily properties for sale in Bellingham on the Northwest MLS. Sixteen were priced under $1,000,000, and most of those were duplexes, triplexes and fourplexes.
Which Bellingham neighborhoods have the most duplex sales?
Sunnyland, Roosevelt, York and Fairhaven see steady duplex, triplex and fourplex sales, and many of these properties sit close to downtown and Western Washington University.
Are multifamily properties competitive?
It depends on the building. Properties with steady income, good condition and convenient locations tend to draw the most interest.
What should investors review before buying multifamily property?
Investors typically review:
- unit income
- operating expenses
- lease structures
- deferred maintenance
- vacancy history
- zoning
- utility setup
- future capital expenditures
Are value-add multifamily opportunities available?
Yes. Some investors seek properties with operational inefficiencies, below-market rents, or renovation upside.
Does location matter for multifamily investing in Bellingham?
Yes. Demand, tenant stability, income strength, and long-term performance can vary significantly depending on neighborhood, proximity to employment, downtown access, and surrounding amenities.
How do cap rates work for Bellingham multifamily?
A cap rate compares a property’s net operating income to its price. We review income, expenses and comparable sales with investors so the numbers on each building are clear before an offer.
How much do apartment buildings cost in Bellingham?
In the 12 months ending October 2026, apartment buildings with 5 or more units sold in Bellingham for a median of about $1.8 million, and duplexes through fourplexes for a median of about $725,000, based on Whatcom County Assessor’s Office sales records.
Are apartment complexes for sale in Bellingham?
Yes. From October 2024 to October 2026, 19 apartment buildings with 5 or more units sold in Bellingham, according to Whatcom County Assessor’s Office records. Call (360) 223-4501 to hear about current and upcoming opportunities.
What Shapes Multifamily Investment in Bellingham
Western Washington University brings thousands of students to Bellingham each year, and employers including PeaceHealth and the Port of Bellingham support year-round housing demand. Many apartment buildings, duplexes, triplexes and fourplexes sit in established neighborhoods where land is limited, so most buildings that come up for sale are existing properties rather than new construction.
For an investor, the decision comes down to the individual building: its income and expenses, condition, financing and how it compares with recent sales nearby.
Popular Bellingham Neighborhoods for Multifamily Investment
Location can have a significant impact on housing demand, tenant profiles, and long-term appreciation. Several Bellingham neighborhoods continue to attract multifamily investors for different reasons.
Properties near Western Washington University in Sehome and Happy Valley often appeal to investors seeking student housing opportunities and strong demand throughout the academic year. York and Sunnyland remain popular because of their walkability, proximity to downtown Bellingham, and mix of historic homes, duplexes, and smaller apartment buildings.
The Columbia neighborhood continues to attract long-term tenants looking for convenient access to downtown, schools, and local amenities, while Birchwood may offer opportunities for investors seeking a lower entry price point compared to some of Bellingham’s more competitive neighborhoods.
Whether you are searching for a duplex, fourplex, or apartment building, understanding the unique characteristics of each neighborhood can help you identify opportunities that align with your investment goals.
Thinking of Selling Your Bellingham Apartment Building?
We help owners of duplexes, fourplexes and apartment complexes price and sell their buildings with recent sales, income and expense reviews, and direct outreach to qualified investors. Call (360) 223-4501 for a confidential conversation about what your building could sell for.
Work With a Bellingham Multifamily Real Estate Agent
Multifamily purchases take more analysis than a typical home purchase. We help investors buy and sell apartment buildings, duplexes, triplexes, fourplexes and other income properties throughout Bellingham and Northwest Washington.
Talk with us about current listings and pricing. Looking beyond Bellingham? See multifamily properties across Washington State.