427 SE Ely StreetOak Harbor, WA 98277Price: $550,000

Rare opportunity to acquire a shovel-ready townhouse development site in Oak Harbor, WA. Situated on over half an acre in a growing residential area, this project offers an exceptional chance to deliver much-needed housing in a highly desirable location. Ideally positioned near the naval base, downtown Oak Harbor, shopping, dining, and everyday services, the site provides strong appeal for future residents. The current owner has completed extensive pre-development work, including stormwater and civil engineering, architectural plans for 10 townhouse units with potential for 11, structural engineering, and city planning approval. Thoughtfully designed with an eco-conscious approach to the lot and topography, the project minimizes the need for significant dirt work, helping reduce both cost and development timeline. With key groundwork already in place, this offering allows developers to move forward with confidence and efficiency. Oak Harbor's expanding community, steady housing demand, and convenient in-town setting make this a compelling investment opportunity. Don't miss the chance to bring this well-positioned project to life.