Remodeled
New
For Sale
$525,000
1223 11th Street, Bremerton, WA 98337
The 2018 renovation updated both kitchens with stainless steel appliances and added in-unit laundry equipment.
Property Size1,760 SF
Price / SF$298.30
Days on Market5
Property Features for 1223 11th Street
General Information
Standard status
Active
Size
1,760 SF
Total Parking Spaces
3
Property subtype
Multi-Family
Net Operating Income
$31,771
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$2,384
Amenities
washer and dryer
Vinyl Plank
Yes
No
2
Electric
3
0.09
Wood
Poured Concrete
1760
Building Details
Building Size
1,760 SF
Year Built
1927
Year Renovated
2018
Buildings
1
Stories
2
Listing Agency:
Keller Williams Realty PS
(503) 908-1694
Listed By:
Sara Brooks
(503) 732-6559
Source:
Premierepropertygroup
Added: Oct 7
Changed: Oct 10
Last Checked: Oct 9 at 6:17PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty PS
Investment Insights
Based on property information with market context.
This two-unit duplex contains 1,760 square feet and dates to 1927. A studs-out renovation was completed in 2018, with vinyl plank flooring throughout, stainless steel kitchen appliances, and cherry wood cabinetry. A washer and dryer are included, and off-street parking is located behind the home.
The property is two blocks from Olympic College and less than 1 mi from the Seattle Ferry. The stated renovation and existing residential configuration define the property’s principal physical features.
The property is two blocks from Olympic College and less than 1 mi from the Seattle Ferry. The stated renovation and existing residential configuration define the property’s principal physical features.
Key Highlights
- 1,760‑square‑foot duplex on a 0.09‑acre site
- Studs‑out renovation completed in 2018
- Vinyl plank flooring throughout; kitchens have stainless steel appliances and cherry wood cabinets
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$20,600
Cap Rate
3.92%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,000
$412.0K
Cap Rate 7%
$294,286
$294.3K
Cap Rate 9%
$228,889
$228.9K
Market Conditions
NOI Build-Up for 1,760 SF
Gross rent
$32.3K $18.36/SF
− Vacancy
−$2.9K −$1.64/SF
EGI
$29.4K $16.72/SF
− OpEx
−$8.8K −$5.02/SF
NOI
$20.6K $11.70/SF
Area
Kitsap County, WA
Vacancy
8.93%
Lease Rate
$18.36 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$412,000
Cap Rate 7%
$294,286
Cap Rate 9%
$228,889
Alternative Uses
Best Use
Multifamily LT 5
$294.3K
$257.5K – $343.3K
NOI $20,600 @ 7.0% cap · market cap 3.92%
Second Best
Apartment 5plus
$270.6K
$236.8K – $315.7K
NOI $18,943 @ 7.0% cap · market cap 3.61%
Theoretical Best
Specialty Retail
$586.9K
$513.5K – $684.7K
NOI $41,081 @ 7.0% cap · market cap 7.82%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
Business Placement
Demographics for 98337, WA
9,653
Population
3,696
Households
2.6
Avg Household Size
29
Median Age
31%
College-Educated
94%
High-School Grad
1.5 sq mi
ZIP Area
6,435
Density / Sq Mi
$73,363
Median Household Income
$36,571
Median Earnings
$1,395
Median Rent
$386,700
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - The 2018 renovation updated both kitchens with stainless steel appliances and added in-unit laundry equipment.
Where is this duplex located?
The property is located at 1223 11th Street Bremerton, WA.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: 1,760‑square‑foot duplex on a 0.09‑acre site; Studs‑out renovation completed in 2018; Vinyl plank flooring throughout; kitchens have stainless steel appliances and cherry wood cabinets
