Property Details
2135 4th Street
Bremerton, WA 98312
$725,000
Active
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Property Overview
This offering presents a 7-unit value-add multifamily opportunity in Bremerton, priced at $725,000 and offered north of a 7% cap rate on in-place income. Like much of the surrounding submarket's older housing stock, the property offers dated interiors and a clear path for new ownership to drive rents through unit-by-unit renovations and modernization — positioning the asset for meaningful upside as units turn. Bremerton's rental fundamentals remain anchored by Puget Sound Naval Shipyard, one of the region's largest employers, supporting steady renter demand and a durable tenant base for well-located multifamily product in the submarket. For an investor seeking an attractive going-in yield with a manageable-scale renovation opportunity, 2135 4th St offers an efficient, well-priced entry point into the Bremerton multifamily market.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Bremerton
Listed
Aug 12, 2026
Structure Type
Multi Family
Parcel Number
14240130192004
Tax & HOA
Annual Property Tax
$5,164 (2026)
Est. Monthly Tax
$430/mo
Financial Summary
Cap Rate
7.15%
Net Operating Income
$51,790
Gross Scheduled Income
$95,560
Gross Rent Multiplier
7.58
Total Expenses
$38,992
Vacancy Rate
5.0%
Building & Use
Leasable Area
3,350 sqft
Total Units
7
Zoning
Multi-Family
Possible Use
Multi-Family
Year Built
1932
Exterior & Lot
Lot Size
0.25 sqft
Year Built
1932
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Paved
Exterior Features
Wood
Community & Access
Directions
Take S 13th Wye St to I-705 S / Take WA-16 W to WA-3 N in Gorst / Continue on WA-3 N. Take WA-304 E to 4th St in Bremerton
Location
City
Bremerton
County
Kitsap
Coordinates
47.56607, -122.64818
Additional Information
Tax Year
2026
Annual Taxes
$5,164
Possession
Array
Based on information submitted to the MLS GRID as of August 12, 2026 11:00 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.
