8755 Shore Place NW, Silverdale, WA 98383
- $5,250,000
- 15,160
- SqFt
Listing courtesy of Blake Investment Advisors.
- List Price
- $5,250,000
- Status
- ACTIVE
- MLS#
- 2431025
- Days on Market
- 321
- Style
- 56 - 10+ Units
- Building Condition
- Updated/Remodeled
- Finished SqFt
- 15,160
- Area Total SqFt
- 15160
- Annual Tax Ammount
- 26340
- Lot Size (sq ft)
- 42,253
- Sewer
- Sewer Connected
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.
Additional Information
- List Date
- 2025-09-08 22:10:24
- Community
- Silverdale
- Net Operating Income
- $313,405
- Gross Adjusted Income
- $386,346
- Gross Scheduled Income
- $406,680
- Total Monthly Income
- $37,080
- Insurance Expenses
- $11,928
- Water/Sewer/Garbage Expenses
- $31,617
- Gross Rent Multiplier
- 12.9
- Total Expenses
- $111,221
- Cap Rate
- 5.97
- Vacancy Rate
- 5
- Total Number of Units
- 20
- Unit Name
- 8755
- Potential Terms
- Conventional
- Year Built
- 1942
- Waterfront
- Yes
- Roof
- Metal
- Other Expenses
- 41336
- Energy Source
- Electric
- School District
- Bremerton #100c
- Total Monthly Income
- $37,080
- Gross Scheduled Income
- $406,680
- Vacancy Rate
- 5
- Gross Adjusted Income
- $386,346
- Tax Year
- 2025
- Insurance Expense
- $11,928
- W/S/G Expenses
- $31,617
- Total Expenses
- $111,221
- Net Operating Income
- $313,405
- Gross Rent Multiplier
- 12.9
- Cap Rate
- 5.97
Based on information submitted to the MLS GRID as of . 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.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.