Property Details
10 NW Front Street
Coupeville, WA 98239
$2,800,000
Active
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Property Overview
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.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Island
Neighborhood
Coupeville
Listed
May 22, 2026
Structure Type
Multi Family
Parcel Number
R132334093800
Tax & HOA
Annual Property Tax
$10,415 (2026)
Est. Monthly Tax
$868/mo
Financial Summary
Cap Rate
4.00%
Gross Scheduled Income
$158,460
Gross Rent Multiplier
17.60
Total Expenses
$10,415
Vacancy Rate
31.0%
Building & Use
Building Sq Ft
6,480
Leasable Area
6,480 sqft
Total Units
6
Zoning
Multi-Family,See Remarks
Possible Use
Multi-Family, See Remarks
Lot Size
4,792 sqft
Year Built
1912
Exterior & Lot
Lot Size
0.11 sqft
Year Built
1912
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Curbs, Paved, Sidewalk
Exterior Features
Wood, Wood Products
Community & Access
Directions
*GPS
Location
City
Coupeville
County
Island
Coordinates
48.22129, -122.68695
Additional Information
Tax Year
2026
Annual Taxes
$10,415
Possession
Array
Based on information submitted to the MLS GRID as of June 1, 2026 11:14 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
