2821 2831 NE Center Street Unit #1-8, Bremerton, WA 98310
- $1,975,000
Listing courtesy of Keller Williams Downtown Sea.
- List Price
- $1,975,000
- Status
- ACTIVE
- MLS#
- 2565138
- Days on Market
- 1
- Annual Tax Ammount
- 11420
Property Description
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!
Additional Information
- Community
- Enetai
- Style
- 60 - Comm Bldg Und 10K
- Year Built
- 1941
- # of Assigned Spaces
- 18
- Roof
- Composition
- Tax Year
- 2025
- Potential Terms
- Cash, Conventional
- Flooring
- Vinyl Plank
- Driving 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
- Electric Expenses
- 1100
- Other Expenses
- 7160
- Energy Source
- Electric, Natural Gas
- Net Operating Income
- $120,870
- Gross Adjusted Income
- $154,812
- Gross Scheduled Income
- $159,600
- Water/Sewer/Garbage Expenses
- $10,500
- Cap Rate
- 6.15
- Vacancy Rate
- 3
- Total Expenses
- $33,942
Based on information submitted to the MLS GRID as of . 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 noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.