The main types of apartment buildings in Bellingham, WA are duplexes, triplexes, fourplexes, small apartment buildings of 5 to 20 units, larger apartment complexes and mixed-use buildings with homes over retail. Each type tends to cluster in certain parts of the city, from older converted homes near Western Washington University to newer complexes in Cordata and Barkley. Knowing how they differ helps buyers and owners pick the building that fits their goals.
Duplexes
A duplex has two units under one roof, either side by side or stacked. Duplexes are the most common entry point into multifamily ownership. Many buyers live in one unit and let the income from the other help with the mortgage, and buildings with four units or fewer can usually be financed with residential loans.
In Bellingham you will find older duplexes scattered through established neighborhoods such as the Lettered Streets, York, Sehome and Columbia, and newer duplexes in growing areas like Cordata, Barkley and the edges of town.
Triplexes
A triplex has three units. It offers more income than a duplex while staying small enough for an owner to manage personally. Many Bellingham triplexes started life as large older homes that were divided into separate units, so they often have charm, mature trees and walkable locations close to downtown and campus.
Fourplexes
A fourplex has four units and is the largest building that still qualifies for residential financing. That makes fourplexes popular with owner-occupants and first-time investors who want the most income possible from a residential loan. Fourplexes are common around WWU, in Happy Valley, along the Samish Way corridor and in Cordata. For a side by side comparison of the smaller building types, read should you buy a duplex, triplex or fourplex in Bellingham.
Small Apartment Buildings (5 to 20 Units)
Once a building reaches five units it moves into commercial real estate. Financing is commercial, and lenders and buyers focus closely on the building’s net operating income. Small apartment buildings are a natural next step for owners growing from a fourplex.
In Bellingham these buildings are common in Sehome, South Hill, Happy Valley, around Samish Way and Lakeway and on the edges of downtown. Many are two or three-story walk-up buildings with surface parking, along with a growing number of newer buildings near campus.
Larger Apartment Complexes
Larger complexes have more than 20 units, often spread across several buildings with shared parking, landscaping and sometimes a clubhouse or fitness room. They usually have professional on-site management and appeal to investors looking for scale.
Most of Bellingham’s larger complexes sit in the north and northeast parts of the city where land is more plentiful, including Cordata, the Guide Meridian corridor, Barkley and areas near Lakeway. You will also see newer complexes in Ferndale and Lynden as Whatcom County grows.
Mixed-Use Buildings
Mixed-use buildings combine homes on the upper floors with retail, restaurants or offices at street level. They bring two kinds of income into one property and create lively, walkable streets. These buildings attract tenants who want walkable access to shops, restaurants and nightlife. Downtown Bellingham, Fairhaven, Barkley Village and the waterfront district are where you will see most of them.
Mixed-use properties call for a little more homework, since the commercial space and the residential units are valued a bit differently. They suit buyers who like the idea of a building that is part of the neighborhood’s daily life.
Newer Construction vs Older Buildings
Both newer and older buildings have a place in a Bellingham portfolio. Newer construction offers modern layouts, energy efficient systems, in-unit laundry and lower near-term maintenance, which keeps operating costs predictable. These buildings are found most often in Cordata, Barkley, Happy Valley and parts of Fairhaven.
Older buildings often sit in prime, walkable locations close to WWU and downtown and can be bought at a lower price per unit. Updating kitchens, baths, windows and systems over time can raise unit income and build value. Our guide on how to value a multifamily property in Bellingham shows how those improvements show up in price.
Where Each Type Tends to Be Found in Bellingham
- Duplexes and triplexes: Lettered Streets, York, Sehome, Columbia, plus newer ones in Cordata and Barkley
- Fourplexes: around WWU, Happy Valley, Samish Way and Cordata
- Small apartment buildings: Sehome, South Hill, Happy Valley, Samish Way, Lakeway and the edges of downtown
- Larger complexes: Cordata, the Guide Meridian corridor, Barkley and north Bellingham
- Mixed-use buildings: Downtown, Fairhaven, Barkley Village and the waterfront
To learn how Western Washington University shapes demand near campus, read how WWU shapes Bellingham multifamily property.
Choosing the Right Type for You
The best building type depends on your goals. A duplex or fourplex can be a home and an investment at the same time. A small apartment building offers more income and room to grow. A larger complex or mixed-use building suits buyers ready for scale. Our main guide to investing in multifamily housing in Bellingham walks through each step.
When you are ready to look, browse our Bellingham apartment buildings for sale, follow the Bellingham and Whatcom County commercial market and see our latest Bellingham multifamily market report.
To see apartment buildings and other income property on the market today, visit our Bellingham commercial real estate page. Looking outside Bellingham? See Ferndale commercial real estate, Lynden commercial real estate and Blaine commercial real estate.
Bellingham Apartment Building Types FAQ
What is the difference between a fourplex and an apartment building?
A fourplex has four units and can usually be financed with a residential loan. A building with five or more units is considered commercial real estate, so it uses commercial financing and is valued mainly on its net operating income.
Where are most apartment buildings in Bellingham?
Small apartment buildings are common near Western Washington University in Sehome, South Hill and Happy Valley and around Samish Way and Lakeway. Larger complexes are mostly in Cordata, Barkley and along the Guide Meridian. Mixed-use buildings are concentrated downtown and in Fairhaven.
Are newer or older apartment buildings a better investment in Bellingham?
Each has strengths. Newer buildings offer modern systems and predictable costs, while older buildings often sit in prime walkable locations and offer room to add value through updates. The right fit depends on your goals and budget.
Who is the best real estate agent for multifamily property in Bellingham?
Josh and Jolene Baijot are Bellingham real estate brokers with over 25 years of experience with duplexes, fourplexes and apartment buildings across Bellingham and Whatcom County. Call us at (360) 223-4501.
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