Introducing BREMERTON LANDING, a prime investment opportunity at 4800 Prospector St in Bremerton, WA. This shovel-ready multifamily development land offers a rare chance to bring 82 units to Kitsap County, approved for construction with infrastructure in place. The property's 1.77-acre parcel boasts a strategic location just a 30-minute Ferry ride from Seattle, offering residents easy access to major employment hubs. The unit mix includes studios, one-, two-, and three-bedroom apartments, designed for broad appeal. With the potential of being designated an Opportunity Zone in the near future, investors can benefit from tax advantages. Bremerton's flourishing economy, driven by key sectors like healthcare, manufacturing, and tourism, presents a solid foundation for long-term growth. Don't miss out on this lucrative opportunity at BREMERTON LANDING - where development dreams meet strategic location!
Approved for 82 Units: Plans include an optimal mix of studios, one-, two-, and three-bedroom units averaging 750 square feet, designed to appeal to a broad renter demographic.
Shovel-Ready Advantage: Fully entitled property minimizes development risk and accelerates the development timeline.
Infrastructure in Place: All roads and utilities are established, reducing development costs and expediting project completion.
Opportunity Zone Potential: The property is located on a tract that meets eligibility requirements for the more restrictive Opportunity Zone program; new Opportunity Zones will be identified in July 2026, with the program opening for investment in January 2027.
Strong Submarket Performance: Average effective rent in the market reached $1,903 as of Q1 2025 (a 6% increase from the previous year), compared to $2,713 in the Downtown Seattle submarket.
Strategic Connectivity: Bremerton is located just 11 miles from Seattle – only a 30-minute ferry ride away via the Bremerton Fast Ferry; residents can easily reach Tacoma and Sea-Tac Airport via State Highway 16 and Interstate 5, as well as access the Olympic Peninsula via the Hood Canal Bridge.