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Listed by:Kidder Mathews • David A. Kelley
$ 725,000
Est. payment | /mo
8 Beds
6 Baths
8,276 Sqft Lot
$ 725,000
Est. payment | /mo
8 Beds
6 Baths
8,276 Sqft Lot
Key Details
Property Type Multi-Family
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Subdivision Bremerton
MLS Listing ID 2568462
Style 55 - 5-9 Units
Bedrooms 8
Year Built 1912
Annual Tax Amount $6,664
Lot Size 8,276 Sqft
Property Sub-Type Multi Family
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.
Location
State WA
County Kitsap
Area 148 - West Bremerton
Interior
Flooring Ceramic Tile
Fireplace false
Exterior
Exterior Feature Wood Products
View Y/N Yes
View Territorial
Roof Type Composition
Building
Sewer Sewer Connected
New Construction No
Schools
School District Bremerton #100C
Others
Senior Community No
Acceptable Financing Conventional
Listing Terms Conventional
"Three Trees" icon indicates a listing provided courtesy of NWMLS.
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