The Waterfront Park Apartments is a well-positioned 20-unit apartment building in the picturesque Old Town neighborhood of Silverdale. The floorplan consists of 16 two-bedroom one-bath apartment homes averaging 780 square feet and four one-bedroom one-bath units averaging 670 square feet. Each unit is equipped with a washer/dryer, stainless steel appliances, hardwood floors, a private balcony or patio with views, storage space, and assigned parking ensuring that the units remain competitive in the rental market. Having undergone a full renovation including new composition shingle roofs, new horizontal Hardie board siding, new exterior paint, new cherry wood kitchen cabinetry and grey and white bathroom cabinets and vanity, new stainless steel refrigerators and dishwashers, oven/range, new garbage disposals, new electric forced air heaters with thermostat (95% of units), new electrically powered AO Smith signature 100 50- gallon hot water tanks in all units, all new electrical panels in each apartment, all new full size Whirlpool Washers and Dryers, new tub surrounds, new carpet in bedrooms and luxury vinyl plank flooring through apartment common areas, the property has been brought into the modern era. This fully renovated asset is strategically positioned within a constrained Silverdale sub-market, where no new units are currently under construction and rental rates have increased by 9.82% since 2023. Given the absence of near-term supply and the property’s minimal capital expenditure requirements, a new investor is well positioned to realize both rental income growth and long-term equity appreciation in the upcoming cycle.