Listed by Jason McFadyen, Windermere/Whidbey Mgmt Serv.
- 7,295
- Square feet
- $274
- Per sq ft
- Multi Family
- Type
- 1959
- Year built
- 63,000 sq ft
- Lot
- 39
- Days on market
About this property
Oak Harbor Terrace, a 14-unit multifamily investment opportunity located in Oak Harbor. The property offers investors an attractive combination of stable in-place cash flow and clear upside potential in a supply-constrained rental market supported by Naval Air Station Whidbey Island. Originally constructed in 1959, the property includes approximately 7,295 square feet of net rentable area across three buildings: a fourplex with a ground-floor commercial space, a nine-unit apartment building, and a single-family residence. The efficient unit layouts are well suited to local workforce housing demand. The asset provides meaningful opportunity to enhance income through rental rate growth, utility reimbursement optimization, and operational improvements.
Location & commute
Add a destination (work, gym, school) for directions and drive time.
Property details
Listing details
- Listing number
- #2531319
- Listed
- June 4, 2026
- Days on market
- 39
- Price per sq ft
- $274
Unit & building
- Unit
- 1-14
- Stories in building
- 1
- Units in building
- 14
Parking
- Covered spaces
- 1
- Total spaces
- 23
Construction
- Year built
- 1959
- Style
- 56 - 10+ Units
- Structure
- Multi Family
- Roof
- CompositionFlatTorch Down
Heating & cooling
- Heating
- BaseboardForced AirWall Furnace
- Cooling
- None
- Energy source
- Electric
Flooring
- Flooring
- LaminateVinyl PlankCarpet
Lot
- Lot features
- Paved
- Lot size
- 63,000 sq ft
Terms
- Terms offered
- CashConventional
Utilities
- Water
- City
- Sewer
- City
- Power
- PSE
Schools
- District
- Oak Harbor
- Elementary
- Buyer To Verify
- Middle
- Buyer To Verify
- High
- Buyer To Verify
What stands out to you?
Mark features you love or could do without. Saved on this device to tune what you see.
- Multi Family
- Composition
- Flat
- Torch Down
- Baseboard
- Forced Air
- Wall Furnace
- None
- Electric
- Laminate
- Vinyl Plank
- Carpet
Listing history
Listed
$2,000,000
June 4, 2026
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
$11,646
- Principal & interest
- $10,113
- Property tax (est.)
- $1,533
Assumes $400,000 down (20%), a $1,600,000 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.
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Based on information submitted to the MLS GRID as of July 14, 2026 at 12:15 AM 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.