834 Ml King Way Drive, Bremerton, WA 98337

Bremerton
Local realty services provided by:Imagine Realty ERA Powered
Listed by: tyler smith, taylor wyman
Office: northmarq multifamily, llc.
MLS#:2511189
Source:NWMLS
834 Ml King Way Drive,Bremerton, WA 98337
$6,750,000
  • - Beds
  • - Baths
  • 31,164 sq. ft.
  • Multi-family
  • Active

Price summary

  • Price:$6,750,000
  • Price per sq. ft.:$216.6

About this home

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...

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Home facts

  • Year built:1919
  • Listing ID #:2511189
  • Updated:May 01, 2026 at 11:03 AM

Rooms and interior

  • Flooring:Hardwood
  • Living area:31,164 sq. ft.

Heating and cooling

  • Heating:Baseboard, Forced Air

Structure and exterior

  • Roof:Flat Roof, Torch Down
  • Year built:1919
  • Building area:31,164 sq. ft.
  • Lot area:0.82 Acres
  • Lot Features:Alley, Corner, Paved, Sidewalk
  • Construction Materials:Brick Exterior Finish

Utilities

  • Water:Public
  • Sewer:Sewer Connected

Finances and disclosures

  • Price:$6,750,000
  • Price per sq. ft.:$216.6
  • Tax amount:$66,367 (2026)

Parking

  • Total parking spaces:32
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