Cambrian Apartments - located in the Charleston neighborhood of Bremerton is a fully-occupied top performer property with 9 efficient 1B/1B units. Market cap rate of 6.52% with easily achieved market rent of $1,175. Charming interiors which have remained relatively untouched since 1940 adorned with arched entries into kitchens and cozy floor plans. The property has been owner managed and well-maintained but a few significant updates to the property include new roof in 2022, gutters replaced in 2022, and a Weil-McLain boiler three years ago. Property has four uncovered parking spaces and five garages (4 vacant). Value-add component lies with implementing utility billbacks, lease the garages, and increase rents to market rate.
Current Location
