Property Description

Located in rapidly growing Kitsap County, this property offers investors a compelling combination of stable market fundamentals, recent capital improvements, and proven rental upside. Backed by landlord-friendly policies and a federally anchored employment base, the area is well positioned for long-term demand and investment durability. The asset presents clear operational upside, with recent leases achieving $1,680 and $1,690, helping validate continued rent growth potential. Additional income opportunities may be realized through laundry, parking, and RUBS implementation. The property also benefits from excellent transportation access, with ferry, bus, and direct highway connections linking residents to the broader Puget Sound employment base. Over the past four years, approximately $246,000 has been invested in major capital improvements, including a new roof, all-unit window replacements, full electrical panel upgrades, and water heater replacements throughout. With key systems already addressed, new ownership steps into a well-maintained asset with limited deferred maintenance risk. An enclosed, covered parking garage further distinguishes the property, offering a valuable amenity in a submarket where many competing rental properties lack secured parking. This is an opportunity to acquire a well-maintained asset with both immediate strength and future upside.