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Listed by:Blake Investment Advisors • Gabe Blake
$ 5,200,000
Est. payment | /mo
36 Beds
20 Baths
15,160 SqFt
$ 5,200,000
Est. payment | /mo
36 Beds
20 Baths
15,160 SqFt
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 15,160 sqft
Price per Sqft $343
Subdivision Silverdale
MLS Listing ID 2431025
Style 56 - 10+ Units
Bedrooms 36
Year Built 1942
Annual Tax Amount $26,340
Lot Size 0.970 Acres
Property Sub-Type Multi Family
Property Description
Waterfront Park Apartments offers a rare turnkey investment on the Silverdale waterfront. This fully renovated 20-unit community boasts a 5.97% cap rate and a 6.08% cash-on-cash return on current rents. The property features 16 spacious two-bedroom townhome-style units and 4 one-bedroom units, averaging 758 SF. Ownership has invested over $1.1M in capital improvements, delivering modern finishes and durable systems throughout—new roofs, Hardie siding, cabinetry, stainless steel appliances, in-unit washers/dryers, upgraded electrical and mechanical systems, and stylish interior updates. The result is a low-maintenance, high cash-flowing asset poised to capture long-term rent growth in one of Kitsap's most desirable waterfront locations.
Location
State WA
County Kitsap
Area 147 - Silverdale
Interior
Flooring Vinyl Plank
Fireplace false
Exterior
Exterior Feature Wood Products
Waterfront Description Ocean Front
View Y/N No
Roof Type Metal
Building
Sewer Sewer Connected
Water Public
New Construction No
Schools
School District Bremerton #100C
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
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