821 Bay St
Port Orchard, WA 98366
0.22 acres | #2322533
Description
This property is a passive income lover's dream. Three residential Tenants make up the top floor and three commercial Tenants make up the bottom. Renegotiations can be discussed regarding potential longer-Term leases for the commercial Tenants and the residential Tenants consist of your typical 12 month Terms. Additionally, a new owner would receive income from 6 parking stalls at the rear of the property. Yearly expenses are kept low, which helps yield a current CAP rate of 7%. With all of the improvements coming to downtown Port Orchard over the next 5 years, a new owner would have the ability to receive the income from a fully leased out, prime location property, while potentially achieving mid to high levels of appreciation.
Property Details
- Style60 - Comm Bldg Und 10K
- Property SubtypeCommercial Industrial
- FoundationPost & Pillar
- Date ListedDecember 20, 2024
- Sewer InformationSewer Connected
- SubdivisionPort Orchard
- Structure TypeUnspecified
- InteriorHardwood
- Property TypePurchase
- Original List Price$833,000
- MLS #2322533
- MLS #2322533
- Utility SourcePublic
- CountyKitsap
- Taxes Annual$5,640
- Cost833000
- Exterior MaterialsWood
- Acres0.22
- Year Built1900
- Property ConditionFair
- Days on Market (Cumulative)45
Legal
The information contained in this listing has not been verified by Northwest Multiple Listing Service (NWMLS) - WA and should be verified by the buyer.
Based on information submitted to the MLS GRID as of 2025-01-14 19:50:09. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
The database information herein is provided from and copyrighted by the Northwest Multiple Listing Service (NWMLS). NWMLS data may not be reproduced or redistributed and is only for people viewing this site. Listings that feature the "three tree" icon are provided courtesy of NWMLS. All information provided is deemed reliable but is not guaranteed and should be independently verified. All properties are subject to prior sale or withdrawal. All rights are reserved by copyright.
Copyright 2024 Northwest Multiple Listing Service. All rights reserved.
Last Updated: . Source: NWMLS
Listing Courtesy
Listing Agent: Gary Anderson (#NWM1799)
Listing Office: G Anderson Group LLC (#NWM2518)
Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.
