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.
MLS# | 2322533 |
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Listing Type | For Sale |
Style | Commercial |
Sub-Type | Resale |
Status | Active |
Year | 1900 |
Days On Site | 31 |
Listing Provided By | G Anderson Group LLC | Gary Anderson |
Acreage | 0.22 |
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Water Front | Yes |
State | WA |
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County | Kitsap |
City | Port Orchard |
Zip Code | 98366 |
Area | 143 Port Orchard |
Community Name | Port Orchard |
Listing VS Median (in Port Orchard) | |
Price: $833,000 low | high Med: $524,997 On Site: 31 low | high Med: 117.000000 |