Listing provided courtesy of Ideal Real EstateNWMLSas Distributed by MLSGrid- MLS# NWM2535283
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Request Info2938 E Walnut StreetPort Angeles, WA 98362
Multi-Family · 24 Beds · 9,612 Sq. ft. | 0.82 Acres$2,949,950
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2938 E Walnut Street Overview
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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.
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2938 E Walnut Street Facts & Features
- Type Multi-Family
- Sq. ft. 9,612
- Price/Sq.ft. $307
- Lot 0.82 Acres
Details
General
Association/HOA
- Association Fee: $0.00
School Information
- School District: Port Angeles
- Elementary School: Buyer To Verify
- Middle Or Junior School: Buyer To Verify
- High School: Buyer To Verify
Income/Expenses
- Other Expense: 55714
- Electric Expense: 10800
- Fuel Expense: 0
- Gross Scheduled Income: 308700
- Insurance Expense: 12635
- Net Operating Income: 200655
- Total Expenses: 108045
- Total Monthly Income: 25725
- Water/Sewer/Garbage: 9239
Building Information
- New Construction: No
- Year Built: 1972
Location/Region
- Country: US
- County Or Parish: Clallam
- MLS Area Major: 918 - E of Port Angeles N
- Subdivision Name: Northeast Port Angeles
Community/Development
- Amenities: Coin Op Laundry
Tax Information
- Tax Annual Amount: $19,657.00
- Tax Year: 2026
General Information
- Listing Terms: Cash, Conventional
- Parcel Number: 053007541080
- Possible Use: Multi-Family,Residential
- Property Condition: Updated/Remodeled
- Property Sub Type: Multi Family
- Property Type: Residential Income
- Senior Community: No
- Special Listing Conditions: None
Interior
Parking Information
- Garage Spaces: 0
Beds/Baths
- Bedrooms Upper: 0
Building Interior
- Building Area Total: 9612
- Building Area Units: Square Feet
- Calculated Square Footage: 9612
- Square Footage Finished: 0
- Square Footage Unfinished: 0
General Information
- Cooling: No
- Fireplace: No
- Fireplaces Total: 0
- Flooring: Vinyl Plank
- Foundation Details: Concrete Ribbon
- Heating: Yes
- Leasable Area: 9612
- Living Area: 0
- Main Level Bathrooms: 0
- Power Production Type: Electric
- Stories Total: 2
Exterior
Parking Information
- Open Parking: No
- Parking Total: 29
- Parking Uncovered Total: 20
Lot Information
- Irrigation Water Rights: No
- Lot Size Acres: 0.8192
- Lot Size Square Feet: 35683
- Lot Size Units: Square Feet
- Elevation Units: Feet
- Water Source: Public
Waterfront/View
- Waterfront: No
Building Exterior/Construction
- Roof: Composition
- Structure Type: Multi Family
General Information
- Carport Spaces: 9
- Carport: No
- Covered Spaces: 9
- Exterior Features: Wood Products
- Number Of Units Total: 14
- Sewer: Sewer Connected
Unit Information
Unit 8 Details
- Actual Rent: 1160
- Beds Total: 1
- Baths Total: 1
Unit 7 Details
- Actual Rent: 1365
- Beds Total: 2
- Baths Total: 1
Unit 9 Details
- Actual Rent: 1370
- Beds Total: 2
- Baths Total: 1
Unit 4 Details
- Actual Rent: 1400
- Beds Total: 2
- Baths Total: 1
Unit 14 Details
- Actual Rent: 1480
- Beds Total: 2
- Baths Total: 1
Unit 10 Details
- Actual Rent: 1785
- Beds Total: 2
- Baths Total: 1
Unit 11 Details
- Actual Rent: 1800
- Beds Total: 1
- Baths Total: 1
Unit 12 Details
- Actual Rent: 1800
- Beds Total: 1
- Baths Total: 1
Unit 6 Details
- Actual Rent: 1800
- Beds Total: 1
- Baths Total: 1
Unit 2 Details
- Actual Rent: 1900
- Beds Total: 2
- Baths Total: 1
Unit 3 Details
- Actual Rent: 2000
- Beds Total: 2
- Baths Total: 1
Unit 5 Details
- Actual Rent: 2000
- Beds Total: 2
- Baths Total: 1
Unit 13 Details
- Actual Rent: 2000
- Beds Total: 2
- Baths Total: 1
Unit 1 Details
- Actual Rent: 2000
- Beds Total: 2
- Baths Total: 1
2938 E Walnut Street Neighborhood
Community
98362 (Port Angeles) Demographics
48
Median Age
114
Population Density (per sq. mile)
42%
College Educated
$53,743
Estimated Median Income
7,055
Estimated Total Home Owners
3,660
Estimated Total Renters
66% / 34%
Estimated Owner / Renter Divide
2
Estimated Average Household Size
Schools
School data courtesy of LiveBy, Inc. School ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating.2938 E Walnut Street Monthly Cost
2938 E Walnut Street Market Data
Based on the last 30 days in this zip code
$647,774
Average List Price
$307
Average Price per Square Foot
37
Properties Sold
74
Average Days on Market
128
Properties for Sale
2938 E Walnut Street History
| Date | Value | Agent |
|---|---|---|
| 6/6/2026Source: NWMLS | June 06, 2026 |