Iconic waterfront corridorsNew pilingsMajor system upgrades
Positioned along one of Whidbey Island’s most iconic waterfront corridors, this rare mixed-use investment opportunity offers over 60 feet of coveted commercial frontage in the heart of historic Coupeville. The meticulously restored seven-unit property includes four street-level commercial spaces and three licensed short-term rental units, creating diversified income potential in a highly sought-after destination market. Nearly every unit captures sweeping views of Penn Cove, with front-row access to the island’s marine wildlife, boating activity, and vibrant waterfront atmosphere.Extensive capital improvements have already been completed, including new pilings, siding, and major system upgrades, allowing investors to step into a stabilized asset with strong operational history and immediate cash flow. Offered with two parcels, the property also presents future upside through expansion, redevelopment potential, or continued optimization of rental income. Located minutes from Fort Ebey, the Coupeville–Port Townsend ferry, and convenient routes to Seattle, Bellevue, and Everett, this is a rare opportunity to acquire a legacy waterfront asset in one of the Pacific Northwest’s most desirable tourism-driven markets.
13 days
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747
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40
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Likely to sell faster than
Zillow last checked:
Listing updated:
Listed by:
Emily Shepodd,
COMPASS,
Michael Konopik,
COMPASS
Source: NWMLS as distributed by MLS GRID,MLS#: 2548704
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Facts & features
Interior
Bedrooms & bathrooms
Bedrooms: 3
Bathrooms: 3
Heating
Ductless, Wall Furnace, Electric, Propane
Cooling
Ductless
Features
Flooring: Ceramic Tile, Laminate
Has fireplace: No
Interior area
Total structure area: 6,480
Total interior livable area: 6,480 sqft
Property
Features
Has view: Yes
View description: City, Islands, Mountain(s), Sound, Territorial
Has water view: Yes
Water view: Sound
Waterfront features: Low Bank, Saltwater, Sound
Lot
Size: 4,791 Square Feet
Dimensions: 60 x 69
Features: Curbs, Paved, Sidewalk, Cable TV, Deck, Fenced-Partially, High Speed Internet, Patio, Sprinkler System
Details
Parcel number: R132334093800
Zoning description: Business,Commercial,Multi-Family,Retail,Jurisdiction: City
Special conditions: Standard
Construction
Type & style
Home type: MultiFamily
Architectural style: 5-9 Units
Property subtype: Multi Family
Materials
Wood Siding, Wood Products
Roof: Composition
Condition
Restored
Year built: 1864
Major remodel year: 1864
Utilities & green energy
Electric: Company: PSE
Sewer: Sewer Connected, Company: Town of Coupeville
Water: Public, Company: Town of Coupville
Utilities for property: Ziply, Ziply
Community & HOA
Community
Subdivision: Coupeville
Location
Region: Coupeville
Financial & listing details
Price per square foot: $432/sqft
Annual tax amount: $10,415
Date on market: 5/22/2026
Cumulative days on market: 55 days
Listing terms: Conventional
Estimated market value
Zestimate®
Not available
Estimated sales range
Not available
Rent Zestimate®
$2,133/mo
Price history
Date
Event
Price
7/2/2026
Listed for sale
$2,800,000$432/sqft
Source: NWMLS as distributed by MLS GRID #2548704Report a problem
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment$--/mo
Payment breakdown
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Principal & interest
$1,547
Mortgage insurance
$0
Property taxes
$170
Home insurance
$105
HOA fees
$0
Utilities
Not included
All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
See how much you could borrow to make a competitive offer.
Source: NWMLS as distributed by MLS GRID. This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.