About this home

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.

Exterior features

Wood Products

Property details

Heating: Forced Air
Cooling: None
Flooring: Vinyl Plank
Water source: Public
Sewer: Sewer Connected

Costs

Annual taxes: $26,340 (2025)

Estimate your monthly payment

$28,489/mo

Principal & interest: $26,294
Property taxes: $2,195

Down payment (20%) $1,040,000 Interest rate (%) Loan term (years)

Loan amount $4,160,000

Estimate only — excludes homeowner's insurance and PMI. Rates shown are not a quote. Talk to us to connect with a lender.

Location

Silverdale, WA 98383

Approximate location. Contact us to confirm the exact address.

Listing courtesy of Blake Investment Advisors— Gabe Blake.Listing data courtesy of the Northwest Multiple Listing Service (NWMLS). Information deemed reliable but not guaranteed and should be independently verified. All properties are subject to prior sale, change, or withdrawal.

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