Oak Harbor Terrace, a 14-unit multifamily investment opportunity located in Oak Harbor. The property offers investors an attractive combination of stable in-place cash flow and clear upside potential in a supply-constrained rental market supported by Naval Air Station Whidbey Island. Originally constructed in 1959, the property includes approximately 7,295 square feet of net rentable area across three buildings: a fourplex with a ground-floor commercial space, a nine-unit apartment building, and a single-family residence. The efficient unit layouts are well suited to local workforce housing demand. The asset provides meaningful opportunity to enhance income through rental rate growth, utility reimbursement optimization, and operational improvements.
| MLS # | 2531319 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1959 |
| Days On Site | 79 |
| Listing Provided By | Windermere/Whidbey Mgmt Serv. | Jason McFadyen |
| SQ Feet | 7,295 |
|---|---|
| Garage | 1 |
| Story(s) | 1 |
| Units | 15 |
| Zoning | Commercial,Multi-Family |
| Acreage | 1.45 |
| Property | 12736 |
|---|
| State | WA |
|---|---|
| County | Island |
| City | Oak Harbor |
| Zip Code | 98277 |
| Area | 813 North Whidbey Island |
| Community Name | City Of Oak Harbor |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in City Of Oak Harbor) | |
Price: $2,000,000 low | high Med: $499,000 sqft: 7,295 low | high Med: 2,099 $ / sqft: $274 low | high Med: $238 On site: 79 low | high Med: 212 | |
| State | WA |
|---|---|
| County | Island |
| City | Oak Harbor |
| Zip Code | 98277 |
| Area | 813 North Whidbey Island |
| Community Name | City Of Oak Harbor |
| School District | Buyer To Verify |
| Elementary School | Buyer To Verify |
| High School | Buyer To Verify |
| Listing VS Median (in City Of Oak Harbor) | |
Price: $2,000,000 low | high Med: $499,000 sqft: 7,295 low | high Med: 2,099 $ / sqft: $274 low | high Med: $238 On site: 79 low | high Med: 212 | |