2938 E Walnut St - Apartments FOR SALE


Port Angeles, WA 98362
$2,949,950 USD
360-504-3200
2938 E Walnut St, Port Angeles, WA for Sale
$2,949,950 USD
Apartments - FOR SALE
1/26
null | 6.8% Cap Rate

2938 E Walnut St
Port Angeles, WA 98362


HIGHLIGHTS

  • No vacancies
  • High rental demand
  • Refreshed units

OVERVIEW

Turnkey multifamily investment opportunity in Port Angeles — 14 units across two tax parcels, 100% leased with zero vacancies, delivering immediate cash flow from day one. The 12-unit apartment building has had 8 of the units fully refreshed throughout, updated and move-in ready. A brand new roof was installed in 2024, protecting your investment from day one. A second parcel adds a single-family home and single-wide manufactured home, rounding out a diversified income portfolio. Several units are currently below market rent, offering strong upside potential through natural turnover — ideal for investors seeking a value-add play or 1031 exchange opportunity. The second parcel also carries potential for up to 7 additional units, subject to buyer verification with Clallam County, making this a compelling development opportunity in a supply-constrained market. Located in the heart of Port Angeles — gateway to Olympic National Park, minutes from the Strait of Juan de Fuca waterfront, downtown dining, and the Coho Ferry to Victoria, BC. Strong rental demand driven by tourism, healthcare, and a growing remote workforce makes this a high-visibility rental market with lasting fundamentals. Stabilized asset. Fully occupied. Renovation complete. Room to grow.

FOR SALE DETAILS

PRICE

$2,949,950 USD

PRICE/SF

$261 USD /SF

# OF UNITS

14

PRICE/UNIT

$210,711

CAP RATE

6.8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1972

PARKING SPACES

18

LAND DETAILS

LAND ACRES

0.91 AC

LAND SF

39,770 SF

ZONING

UNC

APN/PARCEL ID

48392

ASK ABOUT THIS PROPERTY

Roderick DirksIdeal Real EstateMore Info
360-504-3200

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Roderick DirksIdeal Real EstateMore Info
360-504-3200

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.