About this property

Solid, turnkey fourplex on a large 10,890 SF lot in West Bremerton. Fully occupied with an attractive unit mix of (1) 2-bedroom, (2) 1-bedroom, and (1) studio unit. Strong in-place income with upside through scheduled rent increases and market rent growth. Offered at a 7.4% current cap rate with ~8% projected cap rate at market rents. The property consists of a triplex plus detached one-bedroom cottage with separate electrical meters, coin-operated laundry, and off-street parking. Three of the four units have been cosmetically renovated, including the 2-bedroom unit in 2026. Major capital improvements include fresh exterior paint, extensive roof replacement, foundation stabilization, and updated plumbing and electrical. Conveniently located near PSNS, Olympic College, downtown Bremerton, the Seattle ferry, shopping, and major employers. Excellent investment opportunity offering immediate cash flow and long-term upside in one of Kitsap County's strongest rental markets.