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2938 E Walnut Street, 
Port Angeles, WA 98362

$2,949,950

—

Bed

—

Bath

9,612

Sq Ft

Multi-Family

Active

Listed by

Joanne Soderlind

, 

Rod Dirks

Ideal Real Estate

Last updated:

June 7, 2026, 11:06 AM

MLS#

2535283

Source:

NWMLS

About This Home

2938 E Walnut Street

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.

Home Facts

Multi-Family

Built in 1972

Price Summary

2,949,950

$306 per Sq. Ft.

MLS #:

2535283

Last Updated:

June 7, 2026, 11:06 AM

Rooms & Interior

Interior

Living Area:

9,612 Sq. Ft.

Structure

Structure

Building Area:

9,612 Sq. Ft.

Year Built:

1972

Lot

Lot Size (Sq. Ft):

35,683

Finances & Disclosures

Finances

Price:

$2,949,950

Price per Sq. Ft:

$306 per Sq. Ft.

MLS Logo
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of June 8, 2026. 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. Listing information is provided for consumers' personal, non-commercial use, solely to identify prospective properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Information deemed reliable but not guaranteed. Copyright © 2026 MLS GRID. All Rights Reserved.

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Contact an Agent

Yes, I would like more information. Please use and/or share my information with a Coldwell Banker ® affiliated agent to contact me about my real estate needs. By clicking Contact, I request to be contacted by phone or text message and consent to being contacted by automated means. I understand that my consent to receive calls or texts is not a condition of purchasing any property, goods, or services. Alternatively, I understand that I can access real estate services by email or I can contact the agent myself.

If a Coldwell Banker affiliated agent is not available in the area where I need assistance, I agree to be contacted by a real estate agent affiliated with another brand owned or licensed by Anywhere Real Estate (BHGRE®, CENTURY 21®, Corcoran®, ERA®, or Sotheby's International Realty®). I acknowledge that I have read and agree to the terms of use and privacy notice.