801 Veneta Avenue, Bremerton, WA 98337
- $725,000
Listing courtesy of Kidder Mathews.
- List Price
- $725,000
- Status
- ACTIVE
- MLS#
- 2568462
- Days on Market
- 344
- Style
- 55 - 5-9 Units
- Building Condition
- Fair
- Annual Tax Ammount
- 6664
- Lot Size (sq ft)
- 8,276
- Sewer
- Sewer Connected
Property Description
The Veneta apartment offering presents a 6-unit value-add multifamily opportunity in Bremerton, priced at a 7% cap rate on in-place income. The property is an older-vintage asset with dated interiors, presenting a clear opportunity for new ownership to drive rents through unit-by-unit renovations and modernization - a classic value-add play in a market where comparable renovated units command a meaningful rent premium. Bremerton's rental fundamentals remain anchored by Puget Sound Naval Shipyard, one of the region's largest employers, which continues to support steady renter demand and provides a durable, recession-resistant tenant base for well-located multifamily product in the submarket. For an investor seeking a manageable-scale renovation project with an attractive going-in yield and a clear path to stabilized upside, 801 Veneta Ave offers an efficient entry point into the Bremerton multifamily market.
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Additional Information
- List Date
- 2025-09-03 22:28:18
- Community
- Bremerton
- Net Operating Income
- $50,750
- Gross Adjusted Income
- $90,687
- Gross Scheduled Income
- $95,460
- Total Monthly Income
- $8,155
- Insurance Expenses
- $3,000
- Water/Sewer/Garbage Expenses
- $16,800
- Gross Rent Multiplier
- 7.6
- Total Expenses
- $39,940
- Cap Rate
- 7
- Vacancy Rate
- 5
- Total Number of Units
- 6
- Unit Name
- 801
- Potential Terms
- Conventional
- Year Built
- 1912
- View
- Territorial
- Roof
- Composition
- Other Expenses
- 13476
- Energy Source
- Electric
- School District
- Bremerton #100c
- Total Monthly Income
- $8,155
- Gross Scheduled Income
- $95,460
- Vacancy Rate
- 5
- Gross Adjusted Income
- $90,687
- Tax Year
- 2026
- Insurance Expense
- $3,000
- W/S/G Expenses
- $16,800
- Total Expenses
- $39,940
- Net Operating Income
- $50,750
- Gross Rent Multiplier
- 7.6
- Cap Rate
- 7
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.