99 XX Rainier Street, Port Townsend, WA 98368

Property Description

Discover a rare and unique investment opportunity in the City of Port Townsend. This R-IV Multi-Family parcel is positioned at the corner of Rainier Street and Discovery Road. Much of the critical infrastructure is already established, including utilities in the street, brand-new sidewalks along Discovery Road, and integrated walking trails on Rainier Street that enhance the site’s future curb appeal and walkability. This property benefits from R-IV high-density zoning and the City of Port Townsend’s Multi-Family Tax Exemption (MFTE) programs. These incentives provide a clear path to maximizing ROI in a high-demand housing market. The R-IV zoning allows for 10–24 dwellings per structure, with a total density range of 15 to 48 units per 40,000 square feet (~1 acre). Whether you envision a residential complex or a maximum-density apartment project, this site offers the rare combination of established infrastructure, tax advantages, and a premier location. Secure one of Port Townsend's high-density parcels in this vibrant community and bring your vision to life.

Listing Status:

Active

Data Last Updated:

July 6, 2026 at 7:19AM

Listing Office:

Windermere R.E. Port Townsend : 360-385-9344

Listing Agent:

Andreas George Andreadis : 360-385-9344

MLS ID:

2528497

Interior

• A/C: None
• Heating: None
• Fireplace: Fireplaces: 0

Exterior

• General: BrushEvergreensHeavily Forested

Construction

• General: 42 - Multi-Family

Location

• Road/Access: Paved
• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Port Townsend #50
• County: Jefferson

Lot

• Topography: Level
• Zoning: 987001601
• View: TerritorialView

Utilities

• Utilities: Electricity Available
• Water: In Street
• Sewer: In Street

Financial

• Source: nwmls