Property Details
8755 Shore Place NW
Silverdale, WA 98383
$5,250,000
Active
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Property Overview
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.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Silverdale
Listed
Sep 8, 2025
Financial Summary
Cap Rate
5.97%
Net Operating Income
$313,405
Gross Scheduled Income
$406,680
Gross Rent Multiplier
12.90
Total Expenses
$111,221
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
15,160
Leasable Area
15,160 sqft
Total Units
20
Lot Size
42,253 sqft
Year Built
1942
Exterior & Lot
Lot Size
0.97 sqft
Year Built
1942
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Wood Products
Location
City
Silverdale
County
Kitsap
Coordinates
47.64338, -122.69933
Additional Information
Tax Year
2025
Annual Taxes
$26,340
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 PM. 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.
