Property Details
1215 Burwell Street
Bremerton, WA 98337
$1,950,000
Active
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Property Overview
Investor Alert!!! This 11 unit complex on 2 tax parcels is ideally located minutes away from the PSNS State Street Gate offering convenient access to Ferries, PSNS, and all that downtown Bremerton has to offer (fabulous new restaurants, shops, nightlife, Beautiful waterfront parks and marina….MORE). This Stabilized asset boasts a TRUE 6.4% cap rate INCLUDING: Management (10%), Maintenance and Repairs, Utilities, Taxes and Insurance….you won't find many properties that pencil this well when you are honest about your expenses. Self managing these units would provide a cap rate over 7.3%!! Storage available for tenants to rent for additional income as well as 5 garage spaces. Fully updated in the 2010's these units show well and rent easily. Dual paned windows in all units, Heat pump in one unite and Gas heat in the 6 unit building. These units show well and rent easily due to the location and condition. No internal showings until mutual acceptance.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Bremerton
Listed
May 7, 2026
Financial Summary
Cap Rate
6.40%
Net Operating Income
$125,172
Gross Scheduled Income
$199,380
Gross Rent Multiplier
9.70
Total Expenses
$68,226
Vacancy Rate
3.0%
Building & Use
Building Sq Ft
8,602
Leasable Area
8,602 sqft
Total Units
11
Zoning
Multi-Family,Residential
Possible Use
Multi-Family, Residential
Lot Size
12,632 sqft
Year Built
1908
Exterior & Lot
Lot Size
0.29 sqft
Year Built
1908
Garage
5 spaces
Exterior Materials
Cement Plank, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Alley, Curbs, Paved, Sidewalk
Exterior Features
Cement Planked, Wood
Location
City
Bremerton
County
Kitsap
Coordinates
47.56479, -122.63647
Additional Information
Tax Year
2026
Annual Taxes
$14,779
Possession
Array
Based on information submitted to the MLS GRID as of May 8, 2026 3:30 AM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. 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.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
