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Bethel Valley CondominiumsBethel Valley Ln SE - Port Orchard, WA
Corey Crain I 425-442-7931 I [email protected] I KW Commercial Realty Bellevue
19 Unit Portfolio Situated in a
32 Unit Duplex-style Community
O�ered At: $2,350,000
Multifamily Offering
Turnkey Investment, The Bethel Valley Condominiums portfolio consists of 19 3-bed/1.5-bath condos with attached single car garage, private patio, and washer/dryer hookups and boasts 1,092sqft. Majority of the units have undergone many recent improvements including new �ooring (�oors are all hard surface, no carpet) new appliances, electrical panels and roofs. Its convenient location allows tenants easy commute to both Tacoma and Seattle, while also providing a quite, peaceful setting.
Tenants at The Bethel Valley Condominiums are within walking distance to numerous amenities including Walmart, Walgreens, Startbucks and many resaurants. It’s also less than 1 mile from the 193-acre Kitsap Regional Park and also o�ers easy access to Highway-16.
PROPERTY DESCRIPTION
PROPERTY SUMMARY
Address
Number of Units
Year Buit
Total Size
Unit Size
Lot Area
NOI
O�ering Price
14xx Bethel Valley Ln SE Port Orchard, WA 98366
19
1975
20,748 SF
1,092 sf
280,091
$165,443.40
$2,350,000
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS
UNIT AMENITIES
Full size refrigerator/freezer
Hookups for washer and dryer
1 car garage
Generous sized backyard
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UNIT MIX# of Units
19
Unit Type
3 Bed / 1.5 Bath
Approx. SF
1,092
Crain Real Estate is pleased to present this easy to manage, well - maintained asset. Bethel Valley Condominiums provides an opportunity for an investor to take advantage of a strong rental market with low vacancy and growing rents. This 19 unit portfolio is situated in a 32 unit duplex - style community. It has experienced historically low vacancy rates and has excellent upside potential.
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS
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1441144214441449145014511452145814591460146514681475147614831484149114921499
UNITS
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X19 UNITSFOR SALE
13 UNITSNOT FOR SALE
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For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS
NET OPERATING INCOME $298,975 $6,981
Schedule of IncomeEXPENSESProperty TaxesInsurance in addition to HOA HOA Dues $225 x 19Utilities W/S Paid by HOAMaintenance & Repairs @ 5% of GSIGarbageProperty Management @ 7% of GSICOA Management @$1,200 / MonthLandscape Maintenance Paid by HOA DuesMisc AdvertisingTOTAL EXPENSESPer UnitOPERATING DATAGross Scheduled IncomeVacancy 2% Gross Operating IncomeLess ExpensesNet Operating IncomeSUGGESTED FINANCING:Down Payment Loan AmountInterest RateAmortizationMonthly DebtAnnual DebtSUMMARYPriceNumber of UnitsPrice per UnitPrice per Sq. Ft.Year BuiltTotal Livable Sq. Ft.Lot SizeGRMCAP RateCash FlowDebt Coverage RatioCash on Cash Return
$283,980
$17,504$5,100$51,300$0$13,775$5,100$19,878$14,400$0$200$112,857$5,939.84
$283,980$5,680$278,300.40$112,857$165,443.40
$587,500 25%$1,762,500 75%4.25%30 YEARS($8,670.44) Monthly($104,045.29) Yearly
$2,350,000.0019$123,684.21$113.26197520,74839,860 .9151 Acres 12.08%7.04%$61,398.111.5910.45%
$23,665
Unit BD/BA Status Sq Ft Total1441 3/1.5 Current 1,0921442 3/1.5 Current 1,0921444 3/1.5 Current 1,0921449 3/1.5 Current 1,0921450 3/1.5 Current 1,0921451 3/1.5 Current 1,0921452 3/1.5 Current 1,0921458 3/1.5 Current 1,0921459 3/1.5 Current 1,0921460 3/1.5 Current 1,0921465 3/1.5 Current 1,0921468 3/1.5 Current 1,0921475 3/1.5 Current 1,0921476 3/1.5 Current 1,0921483 3/1.5 Current 1,0921484 3/1.5 Current 1,0921491 3/1.5 Current 1,0921492 3/1.5 Current 1,0921499 3/1.5 Current 1,092
19 Units 3/1.5 100% Occ 20,748
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS
RENT ROLL
$1,300$1,300$1,265$1,300$1,150$1,350$1,300$1,150$1,300$1,250$1,300$1,150$1,150$1,300$1,250$1,200$1,200$1,150$1,300
Colonial Properties Condos - 14xx Bethel Valley Ln SE Port Orchard, WA 98366
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
PORT ORCHARD
Port Orchard is a picturesque community with a relaxed pace on the “natural side” of Puget Sound. Compared to the more traveled Seattle-Tacoma side, the Kitsap Peninsula feels decidedly less hurried.Isolated by water on all sides, the Kitsap Peninsula developed its own relaxed and authentic charm. No matter how you get to Port Orchard, by driving the spectacular twin suspension bridg-es of the Tacoma Narrows, on a Washington State Ferry from Seattle through scenic Rich Passage, by historic passenger only ferry from Bremerton, the adventure begins the moment you set out to visit Port Orchard Washington.The destination offers many attractions. Waterfront parks abound, with attractive marine views: the impressive Puget Sound Naval Shipyard with imposing aircraft carriers, subs and destroyers. Manchester State Park offers camping and waterfront hikes along Rich Passage, with up-close sightings of lumbering jumbo ferries on their hourly route through the narrows of Rich Passage.
The waterfront district downtown along Bay Street offers a pleasing selection of eateries, pubs, antique malls and collectible shops. A new feature is the Port Orchard Public Market, featuring a restaurant with locally crafted beer, an authentic Mexican taqueria, an ice cream and chocolatier artisan, a seafood and wine pairing shop, a butcher shop and fresh produce.
The Sidney Museum tells an interesting story of Port Orchard, going back to the 1800’s when the town was first known as Sidney. The museum offers walk through historic exhibits, historic photo galleries and a quality collection of original works from local artists. The South Kitsap area has lots of family-friendly events throughout the year, like the annual Seagull Calling Contest, the Fathoms of Fun Festival and Parade, the Olalla Bluegrass Festival, and the Festival of Chimes and Lights. Port Orchard has a large, well-protected marina, should you choose to come by boat, with full services, and easy access by foot to downtown shops. Golfers take note: Port Orchard and South Kitsap are home to some of the finest golf courses in the region, including McCormick Woods, Gold Mountain and Horseshoe Lake. The larger community across the water, Bremerton, has a beautifully renovated waterfront, Naval Museum, fountain park and additional bigger city attractions within easy walking distance from the Port Orchard-Bremerton “foot ferry” which regularly crosses the bay. Port Orchard is also a great jumping off point to see world-class attractions in all directions: downtown Seattle, the Olympic Peninsula, Tacoma and Mt. Rainier.
LOCATION HIGHLIGHTS
• Population: 13,607• Kitsap County is home
to Naval Base Kitsap- Bremerton, WA
• Port Orchard is located 13 miles west of West Seattle
KITSAP COUNTY TOP EMPLOYERS (NO. EMPLOYEES)
• Naval Base Kitsap- Non-Military Employees (16,392)
• Naval Base Kitsap- Military (14,953)• Harrison Medical Center (2,442)• Washington State Gov. (1,746)• Central Kitsap School Dist. (1• Olympic College (1,206)
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
PORT ORCHARD AREA MAPS
SE Lund Rd
SE Villair Ct
SE Bethel Valley Ln
BETHEL VALLEYCONDOMINIUMS
LOCAL REGIONAL
Bethel Valley Condominiums
Starbucks, Walgreens, Staples, Walmart, Big Lots, Safeway, Taco Time, Wendy’s, The UPS Store (0.3 miles)
South Kitsap Regional Park (0.4 miles)
East Port Orchard Elementary School (0.5 miles)
US Post Office, High Point Shopping Center: Big 5 Sporting Goods, Dollar Tree, Family Pancake House (1.1 miles)
South Kitsap High School (1.5 miles)
Pizza Hut, A&W, Dickey’s BBQ Pit(1.6 miles)
Marcus Whitman Junior High School (1.6 miles)
Albertson’s, Payless Shoes, Papa John’s, Burger King, Bank of America, Jack in the Box (1.6 miles)
Regal Cinemas South Sound Cinema 10 (1.7 miles)
Orchard Heights Elementary School(1.9 miles)
Cedar Heights Middle School (1.9 miles)
Quality Food Center, McDonald’s (2.4 miles)
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For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS - LOCAL MAP
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• Bremerton, WA (8.8 miles)
• Seattle, WA (21.3 miles)
• Tacoma, WA (28.1 miles)
• Olympia, WA (54 miles)
PORT ORCHARD
For additional information contact:Corey Crain - Multifamily SpecialistKW Commercial Realty BellevuePhone: [email protected]
Your Go To GuyFor Multifamily Investments
Information contained herein is deemed reliable, but is not guaranteed. KW Commercial Realty Bellevue makes no representations or warranties, expressed or implied, as to the accuracy of the information contained. All figures to be verified by Purchaser to their own satisfaction.
BETHEL VALLEY CONDOMINIUMS - REGIONAL MAP
