Property Details
324 S Lafayette Avenue
Bremerton, WA 98312
$1,850,000
Active
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Property Overview
Located in rapidly growing Kitsap County, this property offers investors a compelling combination of stable market fundamentals, recent capital improvements, and proven rental upside. Backed by landlord-friendly policies and a federally anchored employment base, the area is well positioned for long-term demand and investment durability. The asset presents clear operational upside, with recent leases achieving $1,680 and $1,690, helping validate continued rent growth potential. Additional income opportunities may be realized through laundry, parking, and RUBS implementation. The property also benefits from excellent transportation access, with ferry, bus, and direct highway connections linking residents to the broader Puget Sound employment base. Over the past four years, approximately $246,000 has been invested in major capital improvements, including a new roof, all-unit window replacements, full electrical panel upgrades, and water heater replacements throughout. With key systems already addressed, new ownership steps into a well-maintained asset with limited deferred maintenance risk. An enclosed, covered parking garage further distinguishes the property, offering a valuable amenity in a submarket where many competing rental properties lack secured parking. This is an opportunity to acquire a well-maintained asset with both immediate strength and future upside.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Kitsap
Neighborhood
Bremerton
Listed
Apr 15, 2026
Financial Summary
Cap Rate
5.50%
Net Operating Income
$101,591
Gross Scheduled Income
$147,600
Gross Rent Multiplier
18.00
Total Expenses
$38,629
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
6,496
Leasable Area
6,970 sqft
Total Units
8
Zoning
Multi-Family
Possible Use
Multi-Family
Lot Size
6,970 sqft
Year Built
1978
Exterior & Lot
Lot Size
0.16 sqft
Year Built
1978
Garage
6 spaces
Exterior Materials
Wood
Sewer
Sewer Connected
Lot Features
Curbs
Exterior Features
Wood
Location
City
Bremerton
County
Kitsap
Coordinates
47.55919, -122.65630
Additional Information
Tax Year
2026
Annual Taxes
$12,634
Possession
Array
Based on information submitted to the MLS GRID as of April 25, 2026 5:11 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.
