269 Main Street, Orcas Island, WA 98245
- $2,850,000
Listing Broker: COMPASS; Wally Gudgell; 360-507-5443; wally@compass.com
- List Price
- $2,850,000
- Status
- ACTIVE
- MLS#
- 2576392
- Days on Market
- 24
- Annual Tax Ammount
- 9243.84
- Internet Provider
- Rock Island: fiber
Property Description
A rare opportunity in the heart of Eastsound, this exceptional mixed-use property combines island living with multiple income streams, overlooking the Salish Sea and just steps from restaurants, shops, galleries, and the waterfront. The second level features two beautifully furnished residential units with water views: a spacious 2-bedroom, 2-bath residence and a 1-bedroom, 1-bath residence, currently operating as highly rated vacation rentals. Enjoy one as your own island home while generating income from the other, create a multi-generational retreat, or continue both as successful rentals. The ground level offers two established, street-facing retail spaces in a high-traffic location, plus an additional office at the rear of the building, providing further flexibility and income potential. Rooftop solar PV provides both environmental and economic benefits, while 11 assigned parking spaces add exceptional convenience in downtown Eastsound. Whether envisioned as a full- or part-time residence, generational retreat, investment, or combination of all three, this is a truly distinctive Orcas Island property offering an uncommon blend of residential living, commercial flexibility, and established income stream.
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Additional Information
- Community
- Eastsound
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 2005
- # of Assigned Spaces
- 11
- Roof
- Metal
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Flooring
- Ceramic Tile, Slate, Vinyl, Carpet
- Driving Directions
- BFI- LBW- From Ferry go to Eastound, take a right on Main St. Eastsound Suites will be on the left side of road before North Beach Rd.
- Appliance
- Tankless Water Heater
- Electric Expenses
- 1182
- Other Expenses
- 32999
- Energy Source
- Electric, Propane, Solar PV
- Net Operating Income
- $154,023
- Gross Adjusted Income
- $206,939
- Gross Scheduled Income
- $206,939
- Water/Sewer/Garbage Expenses
- $3,309
- Cap Rate
- 5
- Vacancy Rate
- 47
- Total Expenses
- $52,916
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