1215 Gregory Way, Bremerton, WA 98337
- $1,575,000
Listing courtesy of Kidder Mathews. Selling Office: Solution Partners NW.
- Sold Price
- $1,575,000
- List Price
- $1,800,000
- Status
- SOLD
- MLS#
- 2195601
- Closing Date
- Mar 29, 2024
- Days on Market
- 9
- Style
- 56 - 10+ Units
- Building Condition
- Fixer
- Annual Tax Ammount
- 13140
- Lot Size (sq ft)
- 8,712
- Sewer
- Sewer Connected
Property Description
Built in 1959, this two story 12-unit community is comprised of one and two-bedroom units averaging 625 SF. An extremely rare value-add opportunity, the Phillips apartments are being offered to investors roughly 84% vacant. New ownership will have the opportunity to begin their interior renovation program immediately upon purchase. Walking distance from the Bremerton shipyard, Navy Museum, Bremerton ferry and most local retail – the Phillips apartments are extremely centrally located. This value-add offering is well positioned to provide new ownership with immediate equity upon completing interior renovations and the releasing of vacant units.
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Additional Information
- List Date
- 2024-03-20 00:00:00
- Community
- Bremerton
- Net Operating Income
- $151,570
- Gross Adjusted Income
- $11,292
- Gross Scheduled Income
- $225,840
- Total Monthly Income
- $19,200
- Insurance Expenses
- $4,200
- Water/Sewer/Garbage Expenses
- $13,000
- Gross Rent Multiplier
- 7.9
- Total Expenses
- $62,722
- Cap Rate
- 8.4
- Vacancy Rate
- 5
- Total Number of Units
- 12
- Unit Name
- 1215
- Potential Terms
- Conventional
- Year Built
- 1959
- Roof
- Flat
- Other Expenses
- 32382
- Energy Source
- Electric
- School District
- Bremerton #100c
- Total Monthly Income
- $19,200
- Gross Scheduled Income
- $225,840
- Vacancy Rate
- 5
- Gross Adjusted Income
- $11,292
- Tax Year
- 2024
- Insurance Expense
- $4,200
- W/S/G Expenses
- $13,000
- Total Expenses
- $62,722
- Net Operating Income
- $151,570
- Gross Rent Multiplier
- 7.9
- Cap Rate
- 8.4
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.