324 S Lafayette Avenue, Bremerton, WA 98312
- $1,850,000
- 6,496
- SqFt
Listing courtesy of Kidder Mathews.
- List Price
- $1,850,000
- Status
- PENDING
- MLS#
- 2508012
- Days on Market
- 98
- Style
- 55 - 5-9 Units
- Building Condition
- Good
- Finished SqFt
- 6,496
- Area Total SqFt
- 6496
- Annual Tax Ammount
- 12634
- Lot Size (sq ft)
- 6,970
- Sewer
- Sewer Connected
Property Description
Located in rapidly growing Kitsap County, this property offers investors a compelling combination of stable market fundamentals, recent capital improvements, and proven rental upside. Backed by landlord-friendly policies and a federally anchored employment base, the area is well positioned for long-term demand and investment durability. The asset presents clear operational upside, with recent leases achieving $1,680 and $1,690, helping validate continued rent growth potential. Additional income opportunities may be realized through laundry, parking, and RUBS implementation. The property also benefits from excellent transportation access, with ferry, bus, and direct highway connections linking residents to the broader Puget Sound employment base. Over the past four years, approximately $246,000 has been invested in major capital improvements, including a new roof, all-unit window replacements, full electrical panel upgrades, and water heater replacements throughout. With key systems already addressed, new ownership steps into a well-maintained asset with limited deferred maintenance risk. An enclosed, covered parking garage further distinguishes the property, offering a valuable amenity in a submarket where many competing rental properties lack secured parking. This is an opportunity to acquire a well-maintained asset with both immediate strength and future upside.
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Additional Information
- List Date
- 2026-04-19 19:08:12
- Community
- Bremerton
- Net Operating Income
- $101,591
- Gross Adjusted Income
- $140,220
- Gross Scheduled Income
- $147,600
- Total Monthly Income
- $12,200
- Insurance Expenses
- $4,666
- Water/Sewer/Garbage Expenses
- $3,978
- Gross Rent Multiplier
- 18
- Total Expenses
- $38,629
- Cap Rate
- 5.5
- Vacancy Rate
- 5
- Total Number of Units
- 8
- Unit Name
- 324
- Potential Terms
- Cash, Conventional
- Year Built
- 1978
- View
- Bay, City
- Roof
- Composition
- Site Features
- Barn
- Electric Expenses
- 3978
- Other Expenses
- 9395
- Energy Source
- Electric
- School District
- Bremerton #100c
- Total Monthly Income
- $12,200
- Gross Scheduled Income
- $147,600
- Vacancy Rate
- 5
- Gross Adjusted Income
- $140,220
- Tax Year
- 2026
- Insurance Expense
- $4,666
- W/S/G Expenses
- $3,978
- Total Expenses
- $38,629
- Net Operating Income
- $101,591
- Gross Rent Multiplier
- 18
- Cap Rate
- 5.5
Based on information submitted to the MLS GRID as of . All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.