Property Details
1275 Northlake Way NW
Bremerton, WA 98312
$410,000
Active
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Property Overview
These 1940 cabins offer a unique blend of classic charm and modern convenience in a prime Kitsap Lake location. These 2 homes on a single parcel are nestled in a serene neighborhood. The homes are partially updated making an excellent opportunity for investors or those seeking a cozy home with rental potential. This parcel is zoned R-10 and double listed in the MLS under single family and multifamily listings. Each home is a 1-bedroom, 3/4 bath unit with its own laundry and everything else you may need. This is a prime location, with quality tenants, and strong upside and the type of investment you’ve been waiting for. Units are currently on month-to-month leases, with long term tenants making this a turnkey opportunity. Monthly rent for these units is $1,050/month and $1,100/month and current rates are below market value.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Kitsap Lake
Listed
Apr 23, 2026
Original Price
$425,000
Financial Summary
Cap Rate
4.86%
Net Operating Income
$20,672
Gross Scheduled Income
$25,800
Gross Rent Multiplier
16.47
Total Expenses
$5,128
Building & Use
Building Sq Ft
1,162
Leasable Area
1,162 sqft
Total Units
2
Lot Size
10,454 sqft
Year Built
1940
Exterior & Lot
Lot Size
0.24 sqft
Year Built
1940
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Wood
Location
City
Bremerton
County
Kitsap
Coordinates
47.58032, -122.70657
Additional Information
Tax Year
2026
Annual Taxes
$1,541
Possession
Array
Based on information submitted to the MLS GRID as of May 21, 2026 7:15 PM. 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.
