About this property

This offering presents a 7-unit value-add multifamily opportunity in Bremerton, priced at $725,000 and offered north of a 7% cap rate on in-place income. Like much of the surrounding submarket's older housing stock, the property offers dated interiors and a clear path for new ownership to drive rents through unit-by-unit renovations and modernization — positioning the asset for meaningful upside as units turn. Bremerton's rental fundamentals remain anchored by Puget Sound Naval Shipyard, one of the region's largest employers, supporting steady renter demand and a durable tenant base for well-located multifamily product in the submarket. For an investor seeking an attractive going-in yield with a manageable-scale renovation opportunity, 2135 4th St offers an efficient, well-priced entry point into the Bremerton multifamily market.