sold

Listings/Inlet View Apartments

Inlet View Apartments

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Sold – $16,200,000

This listing has closed. Please visit our Listings page to view apartment buildings and development land currently available for purchase.

Executive Summary

Inlet View Apartments is a 100-unit apartment complex located at 9860 Bushlac Lane Northwest, Silverdale, WA 98383. This offering provides buyers the opportunity to purchase the property free and clear of existing debt. This offering is unpriced.

Offering Details

Pricing
Open bid
Financing Debt
Offered free and clear

Property Summary

Year Built
1985
Units
100
Buildings
7
NRSF
74,800 SF
Kitsap County APN
162501-4-062-2005

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

Contact Us

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.

Direct: 206.414.8575