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About the Listing 10342 - 43618,119131
We are pleased to present South Court, a 47-unit multifamily community located in Bremerton. Originally constructed in 1919, the property comprises 26,100 net rentable square feet and features a balanced mix of studio, one-bedroom, and two-bedroom residences, appealing to a broad renter demographic. South Court currently generates $440,679 in net operating income and is offered at an attractive 6.53% in-place Cap Rate, providing investors with strong day-one cash flow. Current rents are approximately 8.24% below market, presenting a clear opportunity to increase revenue through alignment with prevailing market rates. The property also includes 32 surface parking spaces in addition to available street parking, supporting resident convenience and operational stability. The community benefits from convenient access to local employment centers, neighborhood retail amenities, and regional transportation connections throughout the Puget Sound area. Bremerton’s growing economic base and connectivity to the broader region position the asset to capture sustained rental demand and long-term value appreciation.
Listing Highlights
Interior Details
- Bedrooms: 38
- Bathrooms: 46 Full
- Appliances:
- Air Cond:
- Heating:
- Fireplaces: 0
- Floor: Hardwood
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water: City of Bremerton
Exterior Details
- Lot Description: Alley,Corner Lot,Paved,Sidewalk
- Garage Capacity: N/A
- Parking Spaces: 32
- Roof: Flat,Torch Down
- Others: Brick,Good
- Sewer: City of Bremerton
Financial Details
- Tax Amount: $66,367
- Taxes w/Assessments: N/A
- Tax/Property ID: 37680000270005
- Tax Year: 2026
Payment Calculator
Monthly Payment
- in Principal and Interest
- in Taxes
Questions About..
834 Ml King Way Dr Bremerton, WA 98337
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