Puget Sound Apartments

The Puget Sound Apartments are well-located in the City of Port Townsend. The property consists of 3 buildings on nearly an acre of land. The 10- and 8-unit buildings were constructed in 2003, and the 6-unit building in 2007. All units are 2 bedroom and 1 bathroom. Common laundry is located on-site to service the 10- and 8-unit buildings, while the 6 units have in-unit washers/dryers. With most of the current rents below market, there is opportunity for an investor to enjoy existing strong cash flow while also being positioned to increase returns with unit turnover or lease renewals.

The expanding regional Jefferson Healthcare Hospital and Medical Center is within walking distance just blocks away. The other major employer in the area is the Port Townsend Paper Mill. Port Townsend is attracting old and young to the area as retirees enjoy the lower cost of living and students have the ability to attend Peninsula College at nearby Fort Worden. Fort Worden also partners with many organizations such Goddard College, Port Townsend Film Institute, and the Madrona Mind Body to offer educational programs and events.