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.
| MLS # | 2431025 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1942 |
| Days On Site | 389 |
| Listing Provided By | Blake Investment Advisors | Gabe Blake |
| SQ Feet | 15,160 |
|---|---|
| Story(s) | 2 |
| Units | 20 |
| Acreage | 0.97 |
| Water Front | Yes |
| Property | 26340 |
|---|
| State | WA |
|---|---|
| County | Kitsap |
| City | Silverdale |
| Zip Code | 98383 |
| Area | 147 Silverdale |
| Community Name | Silverdale |
| State | WA |
|---|---|
| County | Kitsap |
| City | Silverdale |
| Zip Code | 98383 |
| Area | 147 Silverdale |
| Community Name | Silverdale |