$5,250,000
Active 15,160
SqFt
1942
Built
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.
MORTGAGE CALCULATOR
$26,547
Estimate only — not a loan offer. Consult a lender for actual terms.
LISTING SNAPSHOT
Price$5,250,000
Bedrooms0
Full Baths0
Half Baths0
Inside Area (SqFt)15,160 sqft
Lot Size0.97 Acres
Year Built1942
MLS® Number2431025
StatusActive
Property Tax26340
HOA/Condo/Coop FeesN/A
GENERAL
Acres0.97
FoundationSlab
Number Of Stories2
Parking Spaces36
Property ConditionUpdated/Remodeled
Property Sub TypeMulti Family
SqFt Total15160
UtilitiesSewer Connected
Water SourcePublic
INTERIOR
FlooringVinyl
HeatingElectric, Forced Air
EXTERIOR
Construction DetailsWood Siding
Lot FeaturesWaterfront
RoofMetal
WaterfrontYes
Waterfront FeaturesOcean Front, Waterfront
COMMUNITY
Financing Terms AvailableConventional
MLS Area147 - Silverdale
School DistrictBremerton #100c
SCHOOLS
School DistrictBremerton #100c
RECENT ACTIVITY
September 8, 2025Active
Listing courtesy of Blake Investment Advisors
Courtesy of NWMLS
Listing courtesy of Gabe Blake of Blake Investment Advisors
Listing information is provided by Participants of the Northwest MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Northwest MLS.
All data is obtained from various sources and may not have been verified by the 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.
Last checked: 2026-07-14 10:22 PM PDT
Listing courtesy of Gabe Blake of Blake Investment Advisors
Listing information is provided by Participants of the Northwest MLS. IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed. Copyright 2026, Northwest MLS.
All data is obtained from various sources and may not have been verified by the 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.
Last checked: 2026-07-14 10:22 PM PDT
Comps
An estimate is not available for this listing.
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