Water-View
New
For Sale
$475,000
1327 Park Ave, Bremerton, WA 98337
Both residences are leased, and the property includes two garages.
Property Size3,480 SF
Price / SF$136.49
Days on Market5
Property Features for 1327 Park Ave
General Information
Standard status
Active
Size
3,480 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Occupancy
100%
Additional Details
Public Transit
Yes
Multifamily Units
2
Building Details
Year Built
1930
Buildings
1
Construction
Cape Cod
Tenancy
Multi
Listing Agency:
The Joseph Group
Listed By:
Ryan Gardner
Source:
Nwwashingtonhomesforsale
Added: Sep 30
Changed: Oct 3
Last Checked: Oct 4 at 10:06AM
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 The Joseph Group
Investment Insights
Based on property information with market context.
This 3,480-square-foot duplex was built in 1930 and contains five bedrooms and three bathrooms, along with additional rooms. A daylight basement provides storage space, and the property has two garages. Water views are part of the setting.
Evergreen Park is across the street, with beach access nearby. The property is also described as minutes from the ferry and downtown Bremerton.
Evergreen Park is across the street, with beach access nearby. The property is also described as minutes from the ferry and downtown Bremerton.
Key Highlights
- 3,480‑square‑foot duplex built in 1930
- Five bedrooms and three bathrooms, plus additional rooms
- Both units are currently leased
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$40,731
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$814,620
$814.6K
Cap Rate 7%
$581,871
$581.9K
Cap Rate 9%
$452,567
$452.6K
Market Conditions
NOI Build-Up for 3,480 SF
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.
Gross rent
$63.9K $18.36/SF
− Vacancy
−$5.7K −$1.64/SF
EGI
$58.2K $16.72/SF
− OpEx
−$17.5K −$5.02/SF
NOI
$40.7K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$814,620
Cap Rate 7%
$581,871
Cap Rate 9%
$452,567
Alternative Uses
Best Use
Multifamily LT 5
$581.9K
$509.1K – $678.9K
NOI $40,731 @ 7.0% cap · market cap 8.57%
Second Best
Apartment 5plus
$535.1K
$468.2K – $624.3K
NOI $37,456 @ 7.0% cap · market cap 7.89%
Theoretical Best
Specialty Retail
$1.16M
$1.02M – $1.35M
NOI $81,228 @ 7.0% cap · market cap 17.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
2
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,078
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 - Both residences are leased, and the property includes two garages.
Where is this duplex located?
The property is located at 1327 Park Ave Bremerton, WA.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 3,480‑square‑foot duplex built in 1930; Five bedrooms and three bathrooms, plus additional rooms; Both units are currently leased
