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Listings/Bremerton 8
Bremerton 8
On the Market
Price: $1,850,000
Tours: By Appointment
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Site Details
Opportunity
Turnkey Asset with Immediate
Operational Upside
Capital Structure
Major CapEx Complete
Current ownership has invested $246,000 over four years across building systems, envelope, and select interiors. New ownership enters with a clean capital slate – no deferred maintenance on critical systems.
Unit Configuration
Ideal Unit Mix
Eight spacious 2-bedroom units averaging 812 SF – a configuration purpose-built for Bremerton’s renter base. The building targets the highest-demand unit type in the submarket with no mix dilution.
Parking
Secured Covered Parking
An enclosed parking garage serves the property – a standout amenity in a submarket where most competing rental stock offers surface parking at best. Immediate opportunity to introduce fee-based parking income.
Additional Income
Ancillary Income Upside
Currently no parking, pet, or RUBS income collected, providing straightforward operational gains available on day one.
Value-Add Opportunity
Three of eight units have been fully renovated, establishing a proven rent premium. Five classic units remain, providing a clear value-add runway without structural risk. Current rents average $1,513/unit against a comp set averaging $1,725.
Location
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About the Area
Bremerton is a strategically positioned waterfront city on the Kitsap Peninsula, anchored by a strong federal presence. It is home to Naval Base Kitsap and the Puget Sound Naval Shipyard, which together support a large base of military and civilian employment. Nearby institutions like St. Michael Medical Center further diversify the local economy, creating stable, long-term housing demand.
Bremerton offers direct and convenient access to the Seattle metro via multiple transit options. The Kitsap Fast Ferry provides a ~30-minute trip to downtown Seattle, while Washington State Ferries offers vehicle service in about an hour. The Bremerton Transportation Center integrates ferry and bus connections, complemented by regional highway access to Tacoma and Sea-Tac Airport.
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