33020 State Route 20 Unit #1-14, Oak Harbor, WA 98277
- $2,000,000
- 7,295
- SqFt
Listing courtesy of Windermere/Whidbey Mgmt Serv..
- List Price
- $2,000,000
- Status
- ACTIVE
- MLS#
- 2531319
- Days on Market
- 55
- Style
- 56 - 10+ Units
- Building Condition
- Good
- Finished SqFt
- 7,295
- Area Total SqFt
- 7295
- Annual Tax Ammount
- 12736
- Lot Size (sq ft)
- 63,000
- Sewer
- Sewer Connected
Property Description
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.
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Additional Information
- List Date
- 2026-06-04 18:28:33
- Community
- City Of Oak Harbor
- Net Operating Income
- $146,753
- Gross Adjusted Income
- $207,936
- Gross Scheduled Income
- $216,600
- Total Monthly Income
- $18,050
- Insurance Expenses
- $11,455
- Water/Sewer/Garbage Expenses
- $10,000
- Gross Rent Multiplier
- 9.2
- Total Expenses
- $61,183
- Cap Rate
- 7.3
- Vacancy Rate
- 4
- Total Number of Units
- 15
- Unit Name
- 33020
- Potential Terms
- Cash, Conventional
- Year Built
- 1959
- Roof
- Composition, Flat, Torch Down
- Electric Expenses
- 11501
- Other Expenses
- 15491
- Energy Source
- Electric
- School District
- Oak Harbor
- Elementary School
- Buyer To Verify
- Middle School
- Buyer To Verify
- High School
- Buyer To Verify
- Total Monthly Income
- $18,050
- Gross Scheduled Income
- $216,600
- Vacancy Rate
- 4
- Gross Adjusted Income
- $207,936
- Tax Year
- 2026
- Insurance Expense
- $11,455
- W/S/G Expenses
- $10,000
- Total Expenses
- $61,183
- Net Operating Income
- $146,753
- Gross Rent Multiplier
- 9.2
- Cap Rate
- 7.3
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 is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.