99 XX Rainier Street, Port Townsend, WA 98368 (MLS # 2528497)
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Listing provided courtesy of Northwest MLS; Windermere R.E. Port Townsend
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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 Townsend's high-density parcels in this vibrant community and bring your vision to life.
| LAST UPDATED | 5/22/2026 | TRACT | Port Townsend |
|---|---|---|---|
| YEAR BUILT | 0 | COMMUNITY | Port Townsend |
| COUNTY | Jefferson | STATUS | Active |
| PROPERTY TYPE(S) | Lot/Land/Acreage |
| Elementary School | Salish Coast Elementary |
|---|---|
| Jr. High School | Blue Heron Mid |
| High School | Port Townsend High |
| ADDITIONAL DETAILS | |
| AREA | 480 - Port Townsend |
|---|---|
| HEAT | None |
| LOT | 1.17 acre(s) |
| LOT DESCRIPTION | Corner Lot, Curbs, Paved, Sidewalk |
| LOT DIMENSIONS | Irregular |
| MLS STATUS | Active |
| STYLE | 42 - Multi-Family |
| SUBDIVISION | Port Townsend |
| TAXES | 838 |
| UTILITIES | Electricity Available |
| VIEW | Yes |
| VIEW DESCRIPTION | Territorial |
| ZONING | Multi-Family |
TOTAL MONTHLY PAYMENT
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Properties with the 
icon are courtesy of Northwest MLS.
Listings courtesy of Northwest MLS as distributed by MLS GRID. Based on information submitted to the MLS GRID as of 5/25/26 4:52 PM PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. IDX information is provided exclusively for consumers’ personal noncommercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. 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.
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