Property Details
133 N Marion Street
Bremerton, WA 98312
$669,000
Active
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Property Overview
Solid, turnkey fourplex on a large 10,890 SF lot in West Bremerton. Fully occupied with an attractive unit mix of (1) 2-bedroom, (2) 1-bedroom, and (1) studio unit. Strong in-place income with upside through scheduled rent increases and market rent growth. Offered at a 7.4% current cap rate with ~8% projected cap rate at market rents. The property consists of a triplex plus detached one-bedroom cottage with separate electrical meters, coin-operated laundry, and off-street parking. Three of the four units have been cosmetically renovated, including the 2-bedroom unit in 2026. Major capital improvements include fresh exterior paint, extensive roof replacement, foundation stabilization, and updated plumbing and electrical. Conveniently located near PSNS, Olympic College, downtown Bremerton, the Seattle ferry, shopping, and major employers. Excellent investment opportunity offering immediate cash flow and long-term upside in one of Kitsap County's strongest rental markets.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Bremerton
Listed
Jun 26, 2026
Structure Type
Quadruplex
Parcel Number
15240131922002
Tax & HOA
Annual Property Tax
$6,208 (2026)
Est. Monthly Tax
$517/mo
Financial Summary
Cap Rate
7.50%
Net Operating Income
$49,449
Gross Scheduled Income
$65,580
Gross Rent Multiplier
10.00
Total Expenses
$15,478
Vacancy Rate
1.0%
Building & Use
Building Sq Ft
2,738
Leasable Area
2,469 sqft
Total Units
4
Lot Size
10,890 sqft
Year Built
1942
Exterior & Lot
Lot Size
0.25 sqft
Year Built
1942
Exterior Materials
Wood
Sewer
Sewer Connected
Water Source
Public
Exterior Features
Wood
Community & Access
Directions
Turn right onto Kitsap Way, then left onto Burwell Street. Continue north on National Avenue, turn left onto 1st Street, then right onto Marion Avenue. Property is on the left
Location
City
Bremerton
County
Kitsap
Coordinates
47.56487, -122.66284
Additional Information
Tax Year
2026
Annual Taxes
$6,208
Possession
Array
Based on information submitted to the MLS GRID as of July 29, 2026 2:21 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.
