6-Unit Apartment
For Sale
$685,000
629 Highland, Bremerton, WA 98337
Older-vintage multifamily property with unit-by-unit renovation potential as apartments become available.
Property Size4,540 SF
Price / SF$150.88
Days on Market48
Property Features for 629 Highland
General Information
Standard status
Active
Size
4,540 SF
Property subtype
Multi-Family
Financials
Asking Price
$685,000
Cap Rate
7%
Additional Details
Multifamily Units
6
Building Details
Year Built
1910
Listing Agency:
Kidder Mathews
Listed By:
David A. Kelley
(360) 705-2800
Source:
Livnserverealestate
Added: Sep 2
Changed: Oct 3
Last Checked: Oct 7 at 1:09PM
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 Kidder Mathews
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6-unit apartment property in Bremerton contains 4,540 square feet and was built in 1910. The older-vintage building offers a renovation program organized around individual apartments as they turn, allowing ownership to address units incrementally rather than through a single property-wide project.
The offering is based on a 7% cap rate calculated from in-place income. Bremerton’s employment base includes Puget Sound Naval Shipyard, identified as one of the region’s largest employers and a factor supporting the area’s established renter market. The property provides a manageable-scale multifamily configuration for an owner pursuing unit-level modernization.
The offering is based on a 7% cap rate calculated from in-place income. Bremerton’s employment base includes Puget Sound Naval Shipyard, identified as one of the region’s largest employers and a factor supporting the area’s established renter market. The property provides a manageable-scale multifamily configuration for an owner pursuing unit-level modernization.
Key Highlights
- 6‑unit apartment property
- 4,540 square feet
- Built in 1910
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$48,865
Cap Rate
7.13%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,300
$977.3K
Cap Rate 7%
$698,071
$698.1K
Cap Rate 9%
$542,944
$542.9K
Market Conditions
NOI Build-Up for 4,540 SF
Gross rent
$98.1K $21.60/SF
− Vacancy
−$9.2K −$2.03/SF
EGI
$88.8K $19.57/SF
− OpEx
−$40.0K −$8.81/SF
NOI
$48.9K $10.76/SF
Area
Kitsap County, WA
Vacancy
9.40%
Lease Rate
$21.60 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$977,300
Cap Rate 7%
$698,071
Cap Rate 9%
$542,944
Alternative Uses
Best Use
Apartment 5plus
$698.1K
$610.8K – $814.4K
NOI $48,865 @ 7.0% cap · market cap 7.13%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.51M
$1.32M – $1.77M
NOI $105,970 @ 7.0% cap · market cap 15.47%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,095
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
Frequently Asked Questions
What type of property is this?
Apartment building - Older-vintage multifamily property with unit-by-unit renovation potential as apartments become available.
Where is this apartment building located?
The property is located at 629 Highland Bremerton, WA.
What is the asking price?
The asking price for this property is $685,000.
What are key features of this property?
This property features: 6‑unit apartment property; 4,540 square feet; Built in 1910
