Waterfront Duplex
2325 Wheaton Way Bremerton, WA 98310
2325 Wheaton Way, Bremerton, WA, 98310
$449,000
For Sale
$449,000
Down-to-studs duplex on high-bank waterfront with city sewer and water already connected.
Property Size2,030 SF
Price / SF$221.18
Days on Market714
Property Features for 2325 Wheaton Way
General Information
- Standard status
- Active
- Size
- 2,030 SF
- Property subtype
- Multi-Family
Building Details
- Year Built
- 1943
Listing agency
Virgil Adams Real Estate, Inc.
(541) 852-8469
Listed by
Kaylee Black-King
(541) 852-8469
Source
Premierepropertygroup
Added: Aug 8, 2024 Updated: Jul 21 at 3:00PM Checked: Jul 21 at 3:00PM
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 Virgil Adams Real Estate, Inc.
Investment Insights
Based on property information with market context.
This waterfront duplex is positioned as a fixer-upper project, with the interior already taken down to studs. Architectural plans are available, and permits are in the process of approval. Windows are ready to be installed, and city sewer and water connections are already in place.
The property sits on high-bank waterfront in a private setting, with proximity to parks, an ice skate rink, bowling, ferry service to Seattle, downtown Bremerton, and shopping.
For buyers looking to complete a waterfront duplex renovation, this site offers the benefit of demolition being completed and utilities connected, with documented plans available for review.
The property sits on high-bank waterfront in a private setting, with proximity to parks, an ice skate rink, bowling, ferry service to Seattle, downtown Bremerton, and shopping.
For buyers looking to complete a waterfront duplex renovation, this site offers the benefit of demolition being completed and utilities connected, with documented plans available for review.
Key Highlights
- Down‑to‑studs waterfront duplex with architectural plans available and permits to approve
- High‑bank waterfront with a partially fenced lot; located on a dead‑end street with paved access and sidewalk
- City sewer and public water already connected; water source is public
Local Financial Insights For Multifamily LT 5
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 | $37.3k | $18.36 |
| − Vacancy | −$3.3k | −$1.64 |
| EGI | $33.9k | $16.72 |
| − OpEx | −$10.2k | −$5.02 |
| NOI | $23.8k | $11.70 |
2,030 SF · lease $18.36/SF/yr · vacancy 8.93% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$339.4K
$297.0K – $396.0K
NOI $23,760 @ 7.0% cap · market cap 5.29%
Second Best
Apartment 5plus
$312.1K
$273.1K – $364.2K
NOI $21,849 @ 7.0% cap · market cap 4.87%
Theoretical Best
Specialty Retail
$676.9K
$592.3K – $789.7K
NOI $47,383 @ 7.0% cap · market cap 10.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
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FAQs
What type of property is this?
Duplex - Down-to-studs duplex on high-bank waterfront with city sewer and water already connected.
Where is this duplex located?
The property is located at 2325 Wheaton Way Bremerton, WA.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: Down‑to‑studs waterfront duplex with architectural plans available and permits to approve; High‑bank waterfront with a partially fenced lot; located on a dead‑end street with paved access and sidewalk; City sewer and public water already connected; water source is public
