Active · Residential Income

2938 E Walnut Street , Port Angeles, WA 98362

Port Angeles, WA 98362

$2,949,950

— bedrooms · — bathrooms · 0 sq ft

Loading property photos…

Listing provided by Ideal Real Estate · MLS #2535283 · Active

More properties in Port Angeles · Explore local city guides

About this property

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.

Property details

Property type: Multi Family
Year built: 1972
Lot size: 35,683 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $19,657 (2026)
Parking spaces: 29
School district: Port Angeles

Listings courtesy of Northwest MLS as distributed by MLS GRID.

Based on information submitted to the MLS GRID as of 10/6/2026, 9:56:41 PM Pacific. 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 to identify prospective properties they may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. Some IDX listings have been excluded from this website: search includes current Active, Active Under Contract, Pending and Coming Soon listings.