$6,750,000
 $36,235 est/mo Sourced by Back At You

834 Ml King Way Drive,Bremerton, WA 98337

Bremerton, WA 98337

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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.

Details

MLS #2511189
Listing TypeFor Sale
Sub-TypeResale
StatusPending
Year1919
Days On Site133
Listing Provided ByNorthmarq Multifamily, LLC | Tyler Smith

Features

SQ Feet31,164
Story(s)3
Units46
Acreage0.82
Property ViewYes

Taxes

Property66367

Area Information

StateWA
CountyKitsap
CityBremerton
Zip Code98337
Area148 West Bremerton
Community NameBremerton
Listing VS Median (in Bremerton)
Price:
$6,750,000
low | high
Med:
$522,500
100% of Average
sqft:
31,164
low | high
Med:
2,041
100% of Average
$ / sqft:
$217
low | high
Med:
$256
31.724251597713% of Average
On site:
133
low | high
Med:
45.5
100% of Average
Sourced by Back At You

Market Activity 98337

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Based on information submitted to the MLS GRID as of September 1, 2026 at 6:08:28 PM PDT. 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.

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Learn More About This Property

StateWA
CountyKitsap
CityBremerton
Zip Code98337
Area148 West Bremerton
Community NameBremerton
Listing VS Median (in Bremerton)
Price:
$6,750,000
low | high
Med:
$522,500
100% of Average
sqft:
31,164
low | high
Med:
2,041
100% of Average
$ / sqft:
$217
low | high
Med:
$256
31.724251597713% of Average
On site:
133
low | high
Med:
45.5
100% of Average
Sourced by Back At You
Listing Updated: July 28, 2026 at 7:32:50 AM PDT