12/04/2024 - Back to active status, buyer failed to deposit EM, no inspections. The Wedgewood Apartments is a 1938 vintage 15-unit apartment building with so much character and potential.  The property is centrally located near Olympic College, Bremerton High School & Evergreen Rotary Park.  It is also only a few minutes from downtown Bremerton, the ferry and the shipyard.  The Wedgewood has a great unit mix of mostly studio and 1-bedroom units along with one 2-bedroom apartment.  This is an extremely rare opportunity for a mid-sized multifamily in Kitsap County.  Properties this size do not trade very frequently.  This is a heavy value-add prospect that allows new ownership to rehabilitate and capture top rents in a low supply market. It is 40% vacant. Notes to Valuation Analysis: Reflects PROFORMA property operations and achieving market rents for units with updated interiors. Expenses generalized based on comparable properties of similar size and age in the Bremerton market. Current rent roll as of SEP 2024 is $4600 with seven occupied units, one is non-paying. Email listing broker for due diligence folder.