Multi-Family

Overlook Development

3578 SE Orlando St, Port Orchard, WA 98366

Listing Price: Request For Offer

Lot Size
4.33 acres
Land Type
Land
Buildable Square Feet
188,614

Investment Overview

The Overlook Development Site is a 188,614 square foot (~4.33 acres) development opportunity that has been fully entitled. Permits can be delivered to a buyer upon closing. The site is currently unimproved vacant land spread across four tax parcels and is the second phase of a three phase multifamily development. The site is located to the east of downtown Port Orchard near a retail hub located at the intersection of Olney/Jackson Avenue and Mile Hill Drive. An Albertsons, Bi-Mart, Tractor Supply Co, Bank of America, Wells Fargo and Regal Cinemas are all located within the neighboring retail hub, along with a number of restaurants. The 48 acre Veterans Memorial Park is within a mile of the site. South Kitsap High School is also within a mile of the property. Bus stops for routes 9, 81, and 86 are all within walking distance. The property is also just over 2 miles from the Port Orchard Foot Ferry Terminal, providing residents with direct access to nearby Bremerton and Downtown Seattle. The property is zoned R-12 and R-20 and is entitled for 98 multifamily units. The proposed unit configuration would be 14 studios, 28 one bedroom units, 12 two bedroom one bath units, and 44 two bedroom two bath units. Comparable rents for the market show one bedroom units renting for as high as $1,285 and two bedroom units renting for over $1,500. The Overlook Development Site is an excellent opportunity for an investor to acquire a nearly shovel ready project in a rapidly growing market.

Investment Highlights

  • Entitled Site
  • 8-Year Tax Abatement
  • Potential for 98 Multifamily Units

Exclusively Listed By

Listing Price: Request For Offer

Lot Size
4.33 acres
Land Type
Land
Buildable Square Feet
188,614

Investment Highlights

  • Entitled Site
  • 8-Year Tax Abatement
  • Potential for 98 Multifamily Units

Investment Overview

The Overlook Development Site is a 188,614 square foot (~4.33 acres) development opportunity that has been fully entitled. Permits can be delivered to a buyer upon closing. The site is currently unimproved vacant land spread across four tax parcels and is the second phase of a three phase multifamily development. The site is located to the east of downtown Port Orchard near a retail hub located at the intersection of Olney/Jackson Avenue and Mile Hill Drive. An Albertsons, Bi-Mart, Tractor Supply Co, Bank of America, Wells Fargo and Regal Cinemas are all located within the neighboring retail hub, along with a number of restaurants. The 48 acre Veterans Memorial Park is within a mile of the site. South Kitsap High School is also within a mile of the property. Bus stops for routes 9, 81, and 86 are all within walking distance. The property is also just over 2 miles from the Port Orchard Foot Ferry Terminal, providing residents with direct access to nearby Bremerton and Downtown Seattle. The property is zoned R-12 and R-20 and is entitled for 98 multifamily units. The proposed unit configuration would be 14 studios, 28 one bedroom units, 12 two bedroom one bath units, and 44 two bedroom two bath units. Comparable rents for the market show one bedroom units renting for as high as $1,285 and two bedroom units renting for over $1,500. The Overlook Development Site is an excellent opportunity for an investor to acquire a nearly shovel ready project in a rapidly growing market.

Exclusively Listed By

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