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.
| MLS # | 2568462 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Pending |
| Year | 1912 |
| Days On Site | 45 |
| Listing Provided By | Kidder Mathews | David A. Kelley |
| SQ Feet | 4,600 |
|---|---|
| Story(s) | 3 |
| Units | 6 |
| Zoning | Multi-Family |
| Acreage | 0.19 |
| Property View | Yes |
| Property | 6664 |
|---|
| State | WA |
|---|---|
| County | Kitsap |
| City | Bremerton |
| Zip Code | 98337 |
| Area | 148 West Bremerton |
| Community Name | Bremerton |
| Listing VS Median (in Bremerton) | |
Price: $725,000 low | high Med: $500,000 sqft: 4,600 low | high Med: 1,623 $ / sqft: $158 low | high Med: $308 On site: 45 low | high Med: 78 | |
| State | WA |
|---|---|
| County | Kitsap |
| City | Bremerton |
| Zip Code | 98337 |
| Area | 148 West Bremerton |
| Community Name | Bremerton |
| Listing VS Median (in Bremerton) | |
Price: $725,000 low | high Med: $500,000 sqft: 4,600 low | high Med: 1,623 $ / sqft: $158 low | high Med: $308 On site: 45 low | high Med: 78 | |