Oak Harbor Terrace 33020 State Route 20
Oak Harbor, WA 98277
For Sale
7,295 sqft
Sale Price
$2,200,000
Brochure
Map
Multifamily For Sale - Available Immediately
14-Unit Investment Opportunity on Scenic Whidbey Island
Island Lifestyle With Exceptional Quality Of Life And Outdoor Recreation
Commercial Space Provides Stable Income With Annual Rent Increases
Efficient Floor Plans Serving Local Workforce Housing Demand
Ten Minutes To Nas Whidbey Island Supporting 11,000+ Jobs
Five Minutes To Downtown Oak Harbor Shops, Dining, Services, And Waterfront
Upside Through Rent Growth And Utility Reimbursement Optimization
Strong In‑Place Cash Flow With Operational Upside Potential
Get in touch
Reed Hunter
Peter Wright
Spencer Clark
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, averaging 521 square feet, 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.
Oak Harbor Terrace benefits from a convenient location nearly equidistant between Downtown Oak Harbor and NAS Whidbey Island, providing residents easy access to shopping, dining, healthcare, and employment while remaining a short commute to work. In addition, the surrounding area offers abundant options for outdoor recreation, including boating, fishing, cycling, and hiking.
Total Space Available
7,295 sqft
Sale Price
$2,200,000
Get in touch
Reed Hunter
Peter Wright
Spencer Clark