Bought with Emerald Real Estate Group, Inc
$1,485,000
$1,425,000
4.2%For more information regarding the value of a property, please contact us for a free consultation.
136 S Cambrian AVE Bremerton, WA 98312
3,937 SqFt
Key Details
Sold Price $1,485,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 3,937 sqft
Price per Sqft $377
Subdivision Charleston
MLS Listing ID 1933748
Sold Date 07/26/22
Style 55 - 5-9 Units
Year Built 1940
Annual Tax Amount $7,813
Lot Size 9,148 Sqft
Property Description
Cambrian Apartments - located in the Charleston neighborhood of Bremerton is a fully-occupied top performer property with 9 efficient 1B/1B units. Market cap rate of 6.52% with easily achieved market rent of $1,175. Charming interiors which have remained relatively untouched since 1940 adorned with arched entries into kitchens and cozy floor plans. The property has been owner managed and well-maintained but a few significant updates to the property include new roof in 2022, gutters replaced in 2022, and a Weil-McLain boiler three years ago. Property has four uncovered parking spaces and five garages (4 vacant). Value-add component lies with implementing utility billbacks, lease the garages, and increase rents to market rate.
Location
State WA
County Kitsap
Area 148 - West Bremerton
Interior
Interior Features Wall to Wall Carpet
Flooring Carpet
Fireplace false
Exterior
Exterior Feature Wood
Utilities Available Sewer Connected, Natural Gas Connected
View Y/N No
Roof Type Composition
Building
Sewer Sewer Connected
Water Community
New Construction No
Schools
School District Bremerton #100C
Others
Senior Community No
Acceptable Financing Cash Out, Conventional
Listing Terms Cash Out, Conventional
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