Listed by Gabe Blake, Blake Investment Advisors
- 15,160
- Square feet
- $346
- Per sq ft
- Multi Family
- Type
- 1942
- Year built
- 42,253 sq ft
- Lot
- 308
- Days on market
About this property
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 & commute
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Property details
Listing details
- Listing number
- #2431025
- Listed
- September 8, 2025
- Days on market
- 308
- Price per sq ft
- $346
Unit & building
- Stories in building
- 2
- Units in building
- 20
Construction
- Year built
- 1942
- Style
- 56 - 10+ Units
- Structure
- Multi Family
- Roof
- Metal
Heating & cooling
- Heating
- Forced Air
- Cooling
- None
- Energy source
- Electric
Flooring
- Flooring
- Vinyl Plank
Lot
- Lot size
- 42,253 sq ft
- Waterfront
- Yes
Terms
- Terms offered
- Conventional
Utilities
- Water
- Public
- Sewer
- Sewer Connected
Schools
- District
- Bremerton #100c
What stands out to you?
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- Multi Family
- Metal
- Forced Air
- None
- Electric
- Vinyl Plank
- Conventional
- Public
- Sewer Connected
Listing history
Listed
$5,250,000
September 8, 2025
Derived from current MLS listing fields. Full multi-cycle status history is on the roadmap.
Payment estimate
An estimate to help you plan, not a loan offer or financial advice.
Est. monthly
$30,572
- Principal & interest
- $26,547
- Property tax (est.)
- $4,025
Assumes $1,050,000 down (20%), a $4,200,000 loan at 6.5% over 30 years. Property tax is an estimated figure, not MLS data (verify with the county assessor). Excludes insurance, PMI, and closing costs. Not a commitment to lend or financial advice.
Similar nearby listings
Based on information submitted to the MLS GRID as of July 13, 2026 at 11:01 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.