Property Details

2821 NE Center St

Bremerton, WA 98310

$1,975,000

Available

CBA# 716127 courtesy of CBA Listing firm: KW Downtown Seattle

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Commercial

Property Type

6,080

Bldg Sq Ft

Units

6.00%

Cap Rate

1941

Year Built

Property Overview

INVESTOR ALERT! $$$ Turnkey 8-unit multifamily property located in a quiet Bremerton neighborhood near Naval Base Kitsap and the Puget Sound Naval Shipyard. The property and surrounding neighborhood show exceptionally well. Comprised of two well-maintained buildings, the property features four bright, townhouse-style units in each, all offering 2 bedrooms, 1 bathroom, an in-unit washer and dryer, and plenty of on-site parking. All eight units have been updated with a cohesive design and consistent color palette throughout. Ownership has invested approximately $590,000 in renovations, repairs, and capital improvements since 2022, including new roofs on both buildings, new furnaces in all units, updated kitchens and bathrooms, LVP flooring, interior and exterior paint, plumbing and electrical improvements, siding repairs, and select new windows, exterior doors, water heaters, and appliances. The property offers a stabilized 6.12% cap rate based on the existing leases and stated operating expenses, with additional upside as rents move toward market rates. A solid, turnkey investment ready to perform from day one!