Waterfront Park Apartments offers a rare turnkey investment on the Silverdale waterfront. This fully renovated 20-unit community boasts a 5.97% cap rate and a 6.08% cash-on-cash return on current rents. The property features 16 spacious two-bedroom townhome-style units and 4 one-bedroom units, averaging 758 SF. Ownership has invested over $1.1M in capital improvements, delivering modern finishes and durable systems throughout—new roofs, Hardie siding, cabinetry, stainless steel appliances, in-unit washers/dryers, upgraded electrical and mechanical systems, and stylish interior updates. The result is a low-maintenance, high cash-flowing asset poised to capture long-term rent growth in one of Kitsap's most desirable waterfront locations.
Active
Listed by: Blake Investment Advisors • Gabe Blake
$5,250,000
8755 Shore Place NW, Silverdale, WA 98383
36beds
20baths
15,160sqft
:
Get pre-qualified$32,624/mo
Multi Family
Built in 1942
-- sqft lot
$4,657,000 Zestimate®
$346/sqft
$-- HOA
What's special
Modern finishesStylish interior updatesDesirable waterfront locationHardie sidingNew roofsStainless steel appliances
- 323 days |
- 332 |
- 9 |
Zillow last checked:
Listing updated:
Listed by:
Gabe Blake,
Blake Investment Advisors,
Joshua Blake,
Blake Investment Advisors
Source: NWMLS as distributed by MLS GRID,MLS#: 2431025
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 36
- Bathrooms: 20
Heating
- Forced Air, Electric
Cooling
- None
Features
- Flooring: Vinyl Plank
- Has fireplace: No
Interior area
- Total structure area: 15,160
- Total interior livable area: 15,160 sqft
Property
Parking
- Total spaces: 36
- Parking features: Open
- Uncovered spaces: 36
Features
- On waterfront: Yes
- Waterfront features: Ocean Front
Lot
- Size: 0.97 Acres
Details
- Parcel number: 44630000060204
- Zoning description: Jurisdiction: City
- Special conditions: Standard
Construction
Type & style
- Home type: MultiFamily
- Architectural style: 10+ Units
- Property subtype: Multi Family
Materials
- Wood Products
- Foundation: Slab
- Roof: Metal
Condition
- Updated/Remodeled
- Year built: 1942
- Major remodel year: 1942
Utilities & green energy
- Sewer: Sewer Connected
- Water: Public
Community & HOA
Community
- Subdivision: Silverdale
Location
- Region: Silverdale
Financial & listing details
- Price per square foot: $346/sqft
- Tax assessed value: $580,030
- Annual tax amount: $26,340
- Date on market: 9/8/2025
- Cumulative days on market: 324 days
- Listing terms: Conventional
Estimated market value
$4,657,000
$4.38M - $4.94M
$1,861/mo
Price history
| Date | Event | Price |
|---|---|---|
| 9/22/2025 | Listing removed | $1,730 |
Source: Zillow Rentals Report a problem | ||
| 9/8/2025 | Listed for sale | $5,250,000+556.3%$346/sqft |
Source:  NWMLS as distributed by MLS GRID #2431025 Report a problem | ||
| 7/9/2025 | Price change | $1,730+2.1% |
Source: Zillow Rentals Report a problem | ||
| 6/6/2025 | Price change | $1,695-2% |
Source: Zillow Rentals Report a problem | ||
| 3/27/2025 | Listed for rent | $1,730+2.1% |
Source: Zillow Rentals Report a problem | ||
| 2/2/2025 | Listing removed | $1,695 |
Source: Zillow Rentals Report a problem | ||
| 1/20/2025 | Listed for rent | $1,695 |
Source: Zillow Rentals Report a problem | ||
| 8/4/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 7/23/2024 | Listed for rent | $1,695 |
Source: Zillow Rentals Report a problem | ||
| 6/10/2024 | Listing removed | -- |
Source: Zillow Rentals Report a problem | ||
| 1/15/2024 | Listed for rent | $1,695 |
Source: Zillow Rentals Report a problem | ||
| 10/25/2012 | Sold | $800,000$53/sqft |
Source: NWMLS as distributed by MLS GRID #315652 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,300 +2.8% | $580,030 |
| 2023 | $5,153 -0.5% | $580,030 |
| 2022 | $5,177 +26.5% | $580,030 +43.5% |
| 2021 | $4,092 +13.6% | $404,240 +19.5% |
| 2020 | $3,601 +0.4% | $338,230 +2.3% |
| 2019 | $3,587 -6.3% | $330,530 +12.9% |
| 2018 | $3,829 | $292,810 |
| 2017 | $3,829 +2.4% | $292,810 +5% |
| 2016 | $3,739 -2.8% | $278,960 +6.8% |
| 2015 | $3,848 | $261,200 +7.9% |
| 2014 | $3,848 +11.4% | $241,980 -12.8% |
| 2013 | $3,456 +172689% | $277,570 +11% |
| 2012 | $2 -99.9% | $249,990 +2.7% |
| 2011 | $2,656 -4.1% | $243,460 -4.9% |
| 2010 | $2,771 +8% | $255,870 -2% |
| 2009 | $2,567 +3.2% | $261,090 |
| 2008 | $2,486 -4.1% | $261,090 +5% |
| 2007 | $2,593 +259174% | $248,660 +389.3% |
| 2005 | $1 | $50,820 |
Find assessor info on the county website
Monthly payment
Est. payment
Payment breakdown
Explore the cost of this home by adjusting the details. Changes won't be saved.Climate risks
Neighborhood: 98383
Nearby schools
GreatSchools rating
- 6/10Silverdale Elementary SchoolGrades: PK-5Distance: 0.8 mi
- 6/10Central Kitsap Middle SchoolGrades: 6-8Distance: 0.9 mi
- 9/10Central Kitsap High SchoolGrades: 9-12Distance: 0.8 mi
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