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Listed by: Tyler Smith (206) 612-2475 , Taylor Wyman (425) 577-8481 | Northmarq Multifamily, LLC (952) 356-0100
$6,750,000
Monthly Est:$33,597
38 Beds
46 Baths
31,164sqft
834 Ml King Way Dr, Bremerton, WA 98337
$6,750,000
$33,597/moEst:
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Multi Family
Built in 1919
$-- HOA
35,719 sqft lot
$217/sq.ft
Description
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.
- Houzeo last checked: 10 hours ago
- Listing updated: September 25, 2026 at 2:23 am
- Source: Northwest Multiple Listing Service | MLS#: NWM2511189
Property Details
Status
Pending
Type
Multi Family
No. of Stories
3
County
City
Neighborhood
--
Year Built
1919
HOA Fees
-
Finished Area
31,164 sqft
Lot Size
35,719 sqft lot
Basement Area
- sqft
MLS Name
Northwest Multiple Listing Service
MLS Number
NWM2511189
MLS Status
Pending
Days on Market
163
Cumulative Days on Market
163
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Location
Facts & Features
Rooms
Bedrooms & bathrooms
Bedrooms: 38
Bathrooms: 46
Interior
Flooring
Hardwood
Exterior Features
Brick
Sewer
Sewer Connected
Heating
Baseboard, Forced Air
Cooling
None
Construction
Year Built
Year Built: 1919
Home type
Multi Family
Roof
Flat, Torch Down
Property Condition
Good
Foundation Details
Block, Poured Concrete
Construction Materials
Brick
Utilities & Energy
Water Source
Public
Other Features
Lot Features
Alley, Corner Lot, Paved, Sidewalk
Subdivision Name
Bremerton
Price History
| Date | Event | Price |
|---|---|---|
07/07/2026 Source: | Pending | $6,750,000 $217/sqft |
04/21/2026 Source: | Listed for Sale | $6,750,000 $217/sqft |
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Based on information submitted to the MLS GRID by Northwest Multiple Listing Service as of Oct 01, 2026, 02:47PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, noncommercial use; it may not be used for any purpose other than to identify prospective properties that consumers may be interested in purchasing, that the data is deemed reliable, but is not guaranteed by MLS GRID, and that the use of the MLS GRID Data may be subject to an end-user license agreement prescribed by the Member Participant’s applicable MLS, if any and as amended from time to time. © 2025 Northwest Multiple Listing Service. All Rights Reserved.
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