Spacious Bremerton Apartments with
2001 11th St Bremerton, WA 98337
2001 11th St, Bremerton, WA, 98337
$1,250,000
For Sale
$1,250,000
Well-maintained Bremerton apartments with value-add potential and covered parking.
Property Size6,000 SF
Price / SF$208.33
Days on Market111
Property Features for 2001 11th St
General Information
- Standard status
- Active
- Size
- 6,000 SF
- Property subtype
- Multifamily
Listing agency
Seattle Office
(206) 826-5707
Listed by
Aimon Heffernan · License #License(s): WA: 23029794
(206) 826-5707
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 10 at 1:15PM Checked: Jul 21 at 2:57AM
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 Seattle Office
Investment Insights
Based on property information with market context.
The Bremerton property features well-maintained, spacious 2-bedroom, 1-bathroom units, each approximately 1000 square feet. Units include washer and dryer hookups. The property offers 6 covered parking spaces and 6 storage rooms. Local economic drivers contribute to a strong rental market in Bremerton, characterized by historically low vacancy rates. This property is suitable for both entry-level and experienced investors, offering large, high-quality units and the potential for additional upside without extensive renovations. The property presents a 5.39% capitalization rate.
Key Highlights
- Large, well‑maintained 2‑bedroom units (approximately 1000 SF).
- W/D hookups in each unit offer value‑add potential.
- Includes 6 covered parking spaces and 6 storage rooms.
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $129.6k | $21.60 |
| − Vacancy | −$12.2k | −$2.03 |
| EGI | $117.4k | $19.57 |
| − OpEx | −$52.8k | −$8.81 |
| NOI | $64.6k | $10.76 |
6,000 SF · lease $21.60/SF/yr · vacancy 9.40% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$922.6K
$807.3K – $1.08M
NOI $64,580 @ 7.0% cap · market cap 5.17%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.00M
$1.75M – $2.33M
NOI $140,049 @ 7.0% cap · market cap 11.20%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained Bremerton apartments with value-add potential and covered parking.
Where is this apartment building located?
The property is located at 2001 11th St Bremerton, WA.
What is the asking price?
The asking price for this property is $1,250,000.
What are key features of this property?
This property features: Large, well‑maintained 2‑bedroom units (approximately 1000 SF).; W/D hookups in each unit offer value‑add potential.; Includes 6 covered parking spaces and 6 storage rooms.
