Courtesy: Blake Investment Advisors
206-618-2207
Gabe Blake
Waterfront Park Apartments offers a rare turnkey investment on the Silverdale waterfront. This fully renovated 20-unit community boasts a 5.93% cap rate and a 6.56% 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.
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Silverdale is located in Washington. Silverdale, Washington has a population of 21,301. Silverdale is more family-centric than the surrounding county with 30.69% of the households containing married families with children. The county average for households married with children is 29.93%.
The median household income in Silverdale, Washington is $87,558. The median household income for the surrounding county is $84,600 compared to the national median of $69,021. The median age of people living in Silverdale is 36.6 years.
The average high temperature in July is 76.5 degrees, with an average low temperature in January of 34.8 degrees. The average rainfall is approximately 42.5 inches per year, with 3.1 inches of snow per year.
