99 Rainier Street #1-12, Port Townsend, WA 98368

Port Townsend
Local realty services provided by:RSVP Brokers ERA
Listed by: andreas george andreadis
Office: windermere r.e. port townsend
MLS#:2528497
Source:NWMLS
99 Rainier Street #1-12,Port Townsend, WA 98368
$400,000
  • 1.17 Acres
  • Lots / Land
  • Active

Price summary

  • Price:$400,000

About this home

Discover a rare and unique investment opportunity in the City of Port Townsend. This R-IV Multi-Family parcel is positioned at the corner of Rainier Street and Discovery Road. Much of the critical infrastructure is already established, including utilities in the street, brand-new sidewalks along Discovery Road, and integrated walking trails on Rainier Street that enhance the site’s future curb appeal and walkability. This property benefits from R-IV high-density zoning and the City of Port Townsend’s Multi-Family Tax Exemption (MFTE) programs. These incentives provide a clear path to maximizing ROI in a high-demand housing market. The R-IV zoning allows for 10–24 dwellings per structure, with a total density range of 15 to 48 units per 40,000 square feet (~1 acre). Whether you envision a residential complex or a maximum-density apartment project, this site offers the rare combination of established infrastructure, tax advantages, and a premier location. Secure one of Port...

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Home facts

  • Listing ID #:2528497
  • Updated:May 23, 2026 at 11:09 AM

Structure and exterior

  • Lot area:1.17 Acres
  • Lot Features:Corner, Curbed Lot, Paved, Sidewalk

Schools

  • High school:Port Townsend High
  • Middle school:Blue Heron Mid
  • Elementary school:Salish Coast Elementary

Utilities

  • Water:In Street
  • Sewer:In Street

Finances and disclosures

  • Price:$400,000
  • Tax amount:$838 (2026)
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