Based on Northwest Multiple Listing Service data through July 13, 2026.
Bellingham Multi Family Market at a Glance
The Bellingham multi family market remained active in July 2026 despite limited inventory. There were 29 active multi family listings as of July 13, while nine new properties came to market during the previous 30 days. Three properties were pending sale, and 34 multi family properties sold during the past twelve months. Current asking prices range from $599,900 to $10,995,000, demonstrating continued opportunities for investors across every price range.
Although buyers have become more selective, demand remains strong for well maintained duplexes, triplexes, fourplexes, and apartment buildings with solid rental income and long term investment potential.
July 2026 Market Snapshot
As of July 13, 2026, Bellingham had 29 active multi family listings available for purchase.
Nine new listings entered the market during the previous 30 days, while three properties moved into pending status.
During the past twelve months, 34 multi family properties sold throughout Bellingham, reflecting steady investor activity despite a relatively limited supply of available inventory.
Listing prices currently range from $599,900 to $10,995,000, offering opportunities for first time investors, experienced landlords, and buyers seeking larger apartment communities.
Sales by Price Range
Investor demand continues across every segment of the Bellingham market.
During the past twelve months, nine multi family properties sold for less than $700,000.
Eleven properties sold between $700,000 and $999,999.
Six properties sold between $1 million and $1.5 million.
Four properties sold between $1.5 million and $2 million.
Four properties sold for more than $2 million.
This balanced distribution shows continued demand for everything from duplexes and fourplexes to larger apartment buildings.
What We’re Seeing in Today’s Market
The numbers tell only part of the story.
Today’s buyers are spending more time evaluating rental income, operating expenses, leases, deferred maintenance, financing costs, and neighborhood trends before making an offer. Strong investment properties continue to attract attention, but buyers expect accurate financial information and realistic pricing.
For sellers, preparation matters more than ever. Properties with organized income and expense records, well maintained units, and thoughtful pricing continue to stand out in today’s market.
For buyers, understanding local neighborhoods, rental demand, and long term investment potential can make the difference between an average investment and an exceptional one.
Why Local Experience Matters
Every multi family property is unique.
A duplex near Western Washington University appeals to a different buyer than a fourplex in Sunnyland or an apartment building near downtown Bellingham. Rental demand, tenant profiles, redevelopment opportunities, operating expenses, and future appreciation can vary significantly from one neighborhood to another.
Josh and Jolene specialize in helping buyers and sellers navigate Bellingham’s multi family market. By combining current Northwest MLS data with local market knowledge and years of investment real estate experience, we help clients make informed decisions with confidence.
Frequently Asked Questions
Is the Bellingham multi family market still active?
Yes. Thirty four multi family properties sold during the past twelve months, demonstrating continued investor demand despite limited inventory.
What types of multi family properties are attracting buyers?
Well maintained duplexes, triplexes, fourplexes, and apartment buildings with strong rental history and long term income potential continue attracting qualified buyers.
Is inventory increasing?
Inventory remains relatively limited. Only nine new multi family listings entered the market during the previous 30 days.
Is now a good time to sell a multi family property?
Owners with well maintained properties, accurate financial records, and competitive pricing continue attracting qualified buyers in today’s market.
How can Josh and Jolene help investors?
Whether you’re buying your first duplex, expanding your portfolio, or preparing to sell an apartment building, we provide current market data, investment insight, property valuations, and local expertise to help you make informed decisions.
Bottom Line
Bellingham continues to be one of Northwest Washington’s strongest markets for multi family investment property. Limited inventory, consistent rental demand, and a wide range of investment opportunities continue creating an active market for both buyers and sellers.
If you’re considering buying or selling a duplex, triplex, fourplex, or apartment building in Bellingham or anywhere in Whatcom County, we’d be happy to discuss the market, review your investment goals, and help you evaluate your next opportunity.
Written by Jolene Baijot, Designated Broker, and Josh Baijot, brokers specializing in Bellingham, Whatcom County, and Northwest Washington multi family and commercial real estate.
