0 Byron Avenue, Bellingham, WA 98225 (MLS # 2494767)
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Listing provided courtesy of Northwest MLS; COMPASS
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This is an exceptional investment opportunity in Bellingham's thriving Samish Way Urban Village, a designated federal Opportunity Zone. With plans to build 45-55 studio units (initial plans show 40, with potential for an additional 10-15 units), this project offers lucrative potential in a vibrant, mixed-use neighborhood near Western Washington University.The location is ideal"”nestled between I-5 and the Sehome/York neighborhoods, the Samish Way Urban Village is designed for 5-7 story developments that promote density, walkability, and connectivity. Nearby, the Samish Commons project is already setting the tone with affordable housing, commercial spaces, and enhanced pedestrian pathways.Investors will also benefit from Bellingham's 8-year Multi-Family Tax Exemption (MFTE) program, available in this area. This incentive provides a property tax exemption on new residential improvements for projects with at least five units, without affordability requirements"”a rare opportunity to maximize market-rate returns. At approximately $18K per unit, the numbers make this project even more compelling.Whether developed as high-demand condos or rental apartments, this property aligns with market trends and offers significant tax advantages, including Opportunity Zone incentives for long-term gains. Don't miss your chance to capitalize on this prime location and robust growth potential.
| LAST UPDATED | 3/19/2026 | TRACT | Sehome |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | Sehome |
| COUNTY | Whatcom | STATUS | Active |
| PROPERTY TYPE(S) | Lot/Land/Acreage |
| Elementary School | Happy Vly Elem |
|---|---|
| Jr. High School | Fairhaven Mid |
| High School | Sehome High |
| ADDITIONAL DETAILS | |
| AREA | 860 - Bellingham |
|---|---|
| HEAT | None |
| LOT | 0.26 acre(s) |
| LOT DESCRIPTION | Paved |
| LOT DIMENSIONS | 74 x 125 |
| MLS STATUS | Active |
| STYLE | 40 - Res-Less thn 1 Ac |
| SUBDIVISION | Sehome |
| TAXES | 1365 |
| UTILITIES | Electricity Available, Natural Gas Available, Sewer Available |
| VIEW | Yes |
| VIEW DESCRIPTION | Territorial |
| ZONING | Multi-Family |
TOTAL MONTHLY PAYMENT
| SATELLITE VIEW |
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 4/4/26 9:15 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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