8755 Shore Place NW · Silverdale, WA 98383
Source: NWMLS · Blake Investment Advisors · Gabe Blake #NWM2431025
About this home
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.
Location
Basics
- Property type
- Multi Family
- Style
- 10+ Units
- Stories
- 2 stories
- Condition
- Updated/Remodeled
- Year built
- 1942
- Building area
- 15,160 sq ft
- Lot size
- 42,253 sq ft (0.97 acres)
- County
- Kitsap
- MLS #
- NWM2431025
Interior
- Heating
- Forced Air
- Cooling
- None
- Flooring
- Vinyl Plank
Exterior & lot
- Exterior features
- Wood Products
- Roof
- Metal
- Foundation
- Slab
- Waterfront
- Yes
Utilities
- Water
- Public
- Sewer
- Sewer Connected
- Power
- Electric
Community & fees
- Subdivision
- Silverdale
- Property tax
- $26,340 (2025)
Transaction
- Original list price
- $5,250,000 (1% price cut)
- Listed on
- Sep 8, 2025
- Days on market
- 377
- Listing terms
- Conventional
- Possession
- Closing
More homes nearby
Schools
School district: Bremerton #100c
- High
- Central Kitsap High SchoolSchoolDigger 4 stars · Top 19% in WA
Listing provided courtesy of: Blake Investment Advisors
Listing agent: Gabe Blake.
Based on information submitted to the MLS GRID as of —. 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 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. Information is deemed reliable but not guaranteed.
Data last updated 2026-09-17.