Property Details
2821 2831 NE Center Street #1-8
Bremerton, WA 98310
$1,975,000
Active
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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 6.15% 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!
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Enetai
Listed
Aug 5, 2026
Structure Type
Multi Family
Parcel Number
07240230082005
Tax & HOA
Annual Property Tax
$11,420 (2025)
Est. Monthly Tax
$952/mo
Financial Summary
Cap Rate
6.15%
Net Operating Income
$120,870
Gross Scheduled Income
$159,600
Gross Rent Multiplier
12.37
Total Expenses
$33,942
Vacancy Rate
3.0%
Building & Use
Building Sq Ft
6,080
Leasable Area
6,080 sqft
Total Units
8
Zoning
Commercial,Multi-Family
Possible Use
Commercial, Multi-Family
Lot Size
15,682 sqft
Year Built
1941
Exterior & Lot
Lot Size
0.36 sqft
Year Built
1941
Exterior Materials
Wood
Sewer
Septic Tank
Water Source
Community, Public
Lot Features
Dead End Street, Paved
Exterior Features
Wood, Wood Products
Community & Access
Directions
GPS Works rom WA-3 N, take exit 36/Charleston Blvd. Turn R on Burwell St. Turn L on Washington Ave. Turn R on Manette Bridge. Turn R onto Pitt Ave, L on E 11th St, L on Trenton Ave, L on NE Center St
Location
City
Bremerton
County
Kitsap
Coordinates
47.58392, -122.60735
Additional Information
Tax Year
2025
Annual Taxes
$11,420
Possession
Array
Based on information submitted to the MLS GRID as of August 6, 2026 12:15 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.
