704 12Th St, Bremerton, WA 98337
15 Unit Apartment Building | $1,700,000 ($113,333/Unit) | 4.30% Cap Rate | Bremerton, WA 98337
For Sale
Active
Asking Price $1,700,000
- Property Type
-
Multifamily
- Square Feet
- 15,000 SF
Listing Contacts
Brandon Vukelich
- Property Info
Property Overview
The Wedgewood Apartments is a 1938 vintage 15-unit apartment building with so much character and potential. The property is centrally located near Olympic College, Bremerton High School & Evergreen Rotary Park. It is also only a few minutes from downtown Bremerton, the ferry and the shipyard. The Wedgewood has a great unit mix of mostly studio and 1-bedroom units along with one 2-bedroom apartment. This is an extremely rare opportunity for a mid-sized multifamily in Kitsap County. Properties this size do not trade very frequently. This is a heavy value-add prospect that allows new ownership to rehabilitate and capture top rents in a low supply market. It is 40% vacant.
Notes to Valuation Analysis:
Reflect property operations if it was achieving market rents for units with updated interiors. Expenses generalized based on comparable properties of similar size and age in the Bremerton market.
Email listing broker for due diligence folder.
Notes to Valuation Analysis:
Reflect property operations if it was achieving market rents for units with updated interiors. Expenses generalized based on comparable properties of similar size and age in the Bremerton market.
Email listing broker for due diligence folder.
Property Details
- Class
- C
- Year Built
- 1938
- Stories
- 2
- Lot Size (sq. ft)
- 4,356 SF
- Units
- 15
Highlights
- Heavy Value-Add Apartment
- Close to Bremerton Naval Base
- 15 Unit Apartment
Nearby Properties
Similar Properties
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