Active · Land

99 XX Rainier Street , Port Townsend, WA 98368

Port Townsend, WA 98368

$375,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Windermere R.E. Port Townsend · MLS #2528497 · Active

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About this property

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.

Property details

Property type: Land
Lot size: 50,965 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $838 (2026)
School district: Port Townsend #50

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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