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601 Highland Ave 140 Unit Apartment Building $3,500,000 ($25,000/Unit) Bremerton, WA 98337
Investment Highlights
- Located 6 blocks from Bremerton Ferry Terminal connecting
Executive Summary
601 Highland Avenue represents a unique opportunity to acquire a 280-unit multifamily transit oriented development site offering the following:
• Multifamily Tax Exemption development incentives. Located in Qualified Census Tract.
• Located 6 blocks from Bremerton Ferry Terminal connecting the project and downtown Bremerton to Seattle via a relaxing 30-minute passenger only or 60-minute car/passenger ferry boat ride.
• 7 blocks to largest Naval Shipyard on the West Coast providing over 20,000 jobs to active duty and civilian employees.
• 1 mile to Olympic College.
• Views of Sinclair Inlet, Cascade Mountains, and Olympic Mountains.
• Located in Pedestrian Zone in downtown Bremerton.
• Surrounded by extensive retail and lifestyle amenities including Harborside Waterfront Boardwalk.
• Area major employers include Naval Base Kitsap, Olympic College, City of Bremerton, Kitsap Credit Union, and CHI Franciscan Health.
• Multifamily Tax Exemption development incentives. Located in Qualified Census Tract.
• Located 6 blocks from Bremerton Ferry Terminal connecting the project and downtown Bremerton to Seattle via a relaxing 30-minute passenger only or 60-minute car/passenger ferry boat ride.
• 7 blocks to largest Naval Shipyard on the West Coast providing over 20,000 jobs to active duty and civilian employees.
• 1 mile to Olympic College.
• Views of Sinclair Inlet, Cascade Mountains, and Olympic Mountains.
• Located in Pedestrian Zone in downtown Bremerton.
• Surrounded by extensive retail and lifestyle amenities including Harborside Waterfront Boardwalk.
• Area major employers include Naval Base Kitsap, Olympic College, City of Bremerton, Kitsap Credit Union, and CHI Franciscan Health.
Property Facts
| Price | $3,500,000 | Building Class | B |
| Price Per Unit | $25,000 | Lot Size | 1.05 AC |
| Sale Type | Investment | Construction Status | Proposed |
| Sale Condition | Redevelopment Project | Building Size | 184,943 SF |
| No. Units | 140 | No. Stories | 6 |
| Property Type | Multifamily | Year Built | 2028 |
| Property Subtype | Apartment | Parking Ratio | 0.53/1,000 SF |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Zoning | MR-1 | ||
| Price | $3,500,000 |
| Price Per Unit | $25,000 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 140 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 1.05 AC |
| Construction Status | Proposed |
| Building Size | 184,943 SF |
| No. Stories | 6 |
| Year Built | 2028 |
| Parking Ratio | 0.53/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | MR-1 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 140 | - | - |
1 1
Walk Score®
Very Walkable (86)
Property Taxes
| Parcel Numbers | Improvements Assessment | $203,990 | |
| Land Assessment | $412,660 | Total Assessment | $616,650 |
Property Taxes
Parcel Numbers
Land Assessment
$412,660
Improvements Assessment
$203,990
Total Assessment
$616,650
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601 Highland Ave
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