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The Cottages at Oak Harbor

The Cottages at Oak Harbor is a community consisting of 9 stand-alone apartment homes nestled in a quiet park-like setting in Oak Harbor. The cottages are located just a short walk to Moran’s Beach County Park, Hyde Beach, and Deception Pass. The Cottages are comprised of seven (7) 2 bedroom 1 bathroom homes and two (2) 1 bedroom 1 bathroom homes built in 1965. The two-bedroom homes measure between 700-800 SF and the one-bedroom homes are 600 SF. The Cottages at Oak Harbor provide an investor with the unique opportunity to own a well-maintained asset in an inventory-constrained market located close to beaches. A new owner has the opportunity to raise rents 10% to market levels without upgrades to unit interiors.

Address

39201 SR-20
Oak Harbor, WA 98277

Type

Multi-Family

Status

Sold

Price

$ 2,000,000

Cap Rate

5.29%

# of Units

9

Price per Unit

$ 222,222

Available SF

5,785 SF

Price Per SF

$ 345

Land Area

77,101 SF

Year Built

1952

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