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Inlet View Apartments
Sale Price: $16,200,000
For more information about this property, please contact the listing broker.
Please visit our Listings page to view apartment buildings and development land currently on the market.
Sale Summary
Case Study
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Quote
“We really threaded-the-needle with this sale given the outbreak of COVID-19. Working with an experienced buyer with whom we have a strong relationship proved to carry the day – enabling us to get a price well in excess of our client’s expectations and close the sale on an ultra-fast timeline.” – Dylan Simon
Sale Details
Property Details
Investment Opportunity
Great Bones: Inlet View is very well maintained by management with little deferred maintenance, providing ease of ownership from day one. The property’s lush landscaping provides peaceful, natural surroundings, yet is just minutes from the heart of Silverdale’s downtown core.
Immediate Upside & Value-Add Strategy: Nearly zero vacancy in the past decade and below-market rents enable immediate upside for investors through increases to market rent levels. Classic unit finishes provide the opportunity to perform a full value-add strategy and take advantage of up to 43% rent increases over in-place rents.
Unmatched Location: Silverdale is one of Kitsap County’s premier destinations. Local economic growth and apartment demand are supported by the nearby Naval Base Kitsap and private government contractors, expanding healthcare systems, and the largest retail shopping center in the Puget Sound outside of the Seattle-Tacoma metro. Now serviced by the Fast Ferry, this idyllic nook of the Puget Sound is quickly accessible even by the hundreds of thousands of Seattle workers.
Great Bones
Immediate Upside & Value-Add Strategy
Unmatched Location
Location
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Inlet View Apartments
9860 Bushlac Ln NW
Silverdale, WA 98383
Units: 100
Price: $16,200,000
About the Area
Kitsap County epitomizes the Puget Sound region’s idyllic natural beauty, and Silverdale is at the heart of it all.
Just ten miles west of Seattle and five miles north of Bremerton, Silverdale is a bustling suburban town tucked just out of sight of the nation’s fastest-growing big city of the last decade. For those seeking to avoid the “concrete jungle” and traffic-ridden commutes, Silverdale offers a sense of “island life” while remaining connected — both literally and figuratively — to the economic growth of the region and live-work-play amenities today’s discerning residents demand.
Naval Base Kitsap
Naval Base Kitsap (NBK) serves as the host command for the Navy’s fleet throughout the Pacific Northwest and is the third largest U.S. Navy installation in the United States. The armed forces are a huge part of the life in Silverdale, employing 8.3% of the workforce.
Retail Epicenter
Commerce in Silverdale is primarily divided into two geographic areas: Old Town Silverdale along the northeast edge of Dyes Inlet, and the Kitsap Mall and big-box retail centers, all just minutes by foot, bike, or car from Inlet View Apartments. The retail industry employs 11.7% of the civilian workforce.
Harrison Medical Center
A branch of Harrison Medical Center (CHI Franciscan) opened on Myhre Road in 2000, just three minutes from Inlet View Apartments. A 500,000 SF campus expansion will be completed in late 2020, increasing the healthcare industries 16.7% employment rate of Silverdale civilians.
4 Minutes
Drive to Costco
4 Minutes
Bike Ride to Kitsap Mall
5 Minutes
Walk to Trader Joe's
5 Minutes
Drive to Target
14 Minutes
Drive to Bangor Trident Base
16 Minutes
Drive to Bremerton
28 Minutes
Fast Ferry - Bremerton to Seattle
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Exclusive Listing Brokers
Kidder Mathews is the exclusive Listing Brokerage for this Offering. Dylan Simon, Jerrid Anderson, and Brandon Lawler are exclusively representing the Seller in the sale of Inlet View Apartments.
