2938 E Walnut Street, Port Angeles, WA 98362

Property Description

Turnkey multifamily investment opportunity in Port Angeles — 14 units across two tax parcels, 100% leased with zero vacancies, delivering immediate cash flow from day one. The 12-unit apartment building has had 8 of the units fully refreshed throughout, updated and move-in ready. A brand new roof was installed in 2024, protecting your investment from day one. A second parcel adds a single-family home and single-wide manufactured home, rounding out a diversified income portfolio. Several units are currently below market rent, offering strong upside potential through natural turnover — ideal for investors seeking a value-add play or 1031 exchange opportunity. The second parcel also carries potential for up to 7 additional units, subject to buyer verification with Clallam County, making this a compelling development opportunity in a supply-constrained market. Located in the heart of Port Angeles — gateway to Olympic National Park, minutes from the Strait of Juan de Fuca waterfront, downtown dining, and the Coho Ferry to Victoria, BC. Strong rental demand driven by tourism, healthcare, and a growing remote workforce makes this a high-visibility rental market with lasting fundamentals. Stabilized asset. Fully occupied. Renovation complete. Room to grow.

Listing Status:

Active

Data Last Updated:

July 6, 2026 at 1:19PM

Listing Office:

Ideal Real Estate : 360-504-3200

Listing Agent:

Joanne Soderlind : 360-504-3200

MLS ID:

2535283

Interior

• Flooring: Vinyl Plank
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: Wood Products
• Parking: Parking spaces: 29

Construction

• Roofing: Composition
• General: 56 - 10+ UnitsConcrete Ribbon

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Port Angeles
• County: Clallam

Lot

• Zoning: 053007541080
• View: MountainsView

Utilities

• Water: Public
• Sewer: Sewer Connected

Financial

• Source: nwmls