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601 Highland Ave 140 Unit Apartment Building £2,615,585 (£18,683/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 | £2,615,585 | Costar Property Class | B |
| Price Per Unit | £18,683 | Total Plot Size | 1.05 ac |
| Sale Type | Investment | Construction Status | Proposed |
| Sale Condition | Redevelopment Project | Property Size | 184,943 sq ft |
| No. Units | 140 | No. Floors | 6 |
| Property Type | Build-to-Rent | Year Built | 2028 |
| Property Subtype | Apartment | Parking Allocation | 0.53/1,000 sq ft |
| Apartment Style | Mid-Rise | Opportunity Zone |
Yes
|
| Use Class | MR-1 | ||
| Price | £2,615,585 |
| Price Per Unit | £18,683 |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Units | 140 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Costar Property Class | B |
| Total Plot Size | 1.05 ac |
| Construction Status | Proposed |
| Property Size | 184,943 sq ft |
| No. Floors | 6 |
| Year Built | 2028 |
| Parking Allocation | 0.53/1,000 sq ft |
| Opportunity Zone |
Yes |
| Use Class | MR-1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 140 | - | - |
1 1
Walk Score®
Easily Walkable (86)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £22,688 | |
| Land Assessment | £246,146 | Total Assessment | £268,834 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£246,146
Improvements Assessment
£22,688
Total Assessment
£268,834
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601 Highland Ave
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