Pending · Residential Income

834 ML King Way Drive , Bremerton, WA 98337

Bremerton, WA 98337

$6,750,000

— bedrooms · — bathrooms · 0 sq ft

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Listing provided by Northmarq Multifamily, LLC · MLS #2511189 · Pending

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About this property

We are pleased to present South Court, a 47-unit multifamily community located in Bremerton. Originally constructed in 1919, the property comprises 26,100 net rentable square feet and features a balanced mix of studio, one-bedroom, and two-bedroom residences, appealing to a broad renter demographic. South Court currently generates $440,679 in net operating income and is offered at an attractive 6.53% in-place Cap Rate, providing investors with strong day-one cash flow. Current rents are approximately 8.24% below market, presenting a clear opportunity to increase revenue through alignment with prevailing market rates. The property also includes 32 surface parking spaces in addition to available street parking, supporting resident convenience and operational stability. The community benefits from convenient access to local employment centers, neighborhood retail amenities, and regional transportation connections throughout the Puget Sound area. Bremerton’s growing economic base and connectivity to the broader region position the asset to capture sustained rental demand and long-term value appreciation.

Property details

Property type: Multi Family
Year built: 1919
Lot size: 35,719 sq ft
Association dues: $0 · frequency not provided
Annual property tax: $66,367 (2026)
Parking spaces: 32
School district: Bremerton #100c

Listings courtesy of Northwest MLS as distributed by MLS GRID.

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