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.
Active
Listed by: Windermere/Whidbey Mgmt Serv. • Jason McFadyen
$2,000,000
33020 State Route 20 #1-14, Oak Harbor, WA 98277
7beds
14baths
7,295sqft
:
Get pre-qualified$12,307/mo
Multi Family
Built in 1959
-- sqft lot
$1,874,300 Zestimate®
$274/sqft
$-- HOA
What's special
Efficient unit layouts
- 52 days |
- 275 |
- 8 |
Zillow last checked:
Listing updated:
Listed by:
Jason McFadyen,
Windermere/Whidbey Mgmt Serv.
Source: NWMLS as distributed by MLS GRID,MLS#: 2531319
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 7
- Bathrooms: 14
Heating
- Baseboard, Forced Air, Wall Furnace, Electric
Cooling
- None
Features
- Flooring: Laminate, Vinyl Plank, Carpet
- Has fireplace: No
Interior area
- Total structure area: 7,295
- Total interior livable area: 7,295 sqft
Property
Parking
- Total spaces: 23
- Parking features: Garage
- Garage spaces: 1
- Uncovered spaces: 22
Lot
- Size: 1.45 Acres
- Features: Paved
Details
- Parcel number: R133353674010
- Zoning description: Commercial,Multi-Family,Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subtype: Multi Family
Materials
- Cement/Concrete, Wood Siding
- Foundation: Block, Slab
- Roof: Composition,Flat,Torch Down
Condition
- Good
- Year built: 1959
- Major remodel year: 1959
Utilities & green energy
- Electric: Company: PSE
- Sewer: Sewer Connected, Company: City
- Water: Public, Company: City
Community & HOA
Community
- Subdivision: City Of Oak Harbor
Location
- Region: Oak Harbor
Financial & listing details
- Price per square foot: $274/sqft
- Annual tax amount: $12,736
- Date on market: 6/3/2026
- Cumulative days on market: 54 days
- Listing terms: Conventional
Estimated market value
$1,874,300
$1.78M - $1.97M
$2,147/mo
Price history
| Date | Event | Price |
|---|---|---|
| 6/4/2026 | Listed for sale | $2,000,000$274/sqft |
Source:  NWMLS as distributed by MLS GRID #2531319 Report a problem | ||
Public tax history
Tax history is unavailable.
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 98277
Nearby schools
GreatSchools rating
- 8/10Olympic View Elementary SchoolGrades: K-4Distance: 0.5 mi
- 7/10North Whidbey Middle SchoolGrades: 7-8Distance: 0.6 mi
- 6/10Oak Harbor High SchoolGrades: 9-12Distance: 1.3 mi
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A local agent can set up tours, give advice and negotiate with sellers.
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