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4220 Prospector St - Bremerton Landing Phase 1 & Phase 2 1.77 Acres of Commercial Land Offered at $12,561,930 CAD in Bremerton, WA 98310

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Investment Highlights

Shovel Ready for 82 Units
Additional 291-Unit Expansion Opportunity
Diverse Unit Mix

Infrastructure Already in Place
Flexible Acquisition Structure
Opportunity Zone Potential

Executive Summary

Bremerton Landing is a two-phase multifamily development opportunity in Kitsap County’s largest city, with the potential for 373 total units across four parcels totaling seven acres. Phase 1 consists of 82 shovel-ready, fully permitted units and 2,500 square feet of commercial space on 1.77 acres with roads and utilities already in place, while Phase 2 offers 291 additional proposed units across the neighboring three parcels. Located just 30 minutes from Seattle via the Fast Ferry, the property provides strong commuter access and benefits from Bremerton’s growing, diversified economy. The offering also includes flexible acquisition options and potential future Opportunity Zone eligibility, creating an attractive long-term investment opportunity.
- Phase 1 is fully permitted for 82 units and 2,500 square feet of commercial space on 1.77 acres and is shovel ready, offering a near-term development opportunity with reduced execution risk.
- Roads and utilities are established, helping minimize upfront site work, accelerate the construction timeline, and reduce overall development costs.
- Phase 2 spans three adjacent parcels across 5.26 acres and provides the opportunity to develop an additional 291 proposed units.
- Investors can acquire Phase 1 as a standalone shovel-ready development or purchase both Phase 1 and Phase 2 for a larger-scale phased investment opportunity.
- Both Phase 1 and Phase 2 include an optimal mix of studios, one-, two-, and three-bedroom units averaging 750 square feet, appealing to a broad renter demographic.
- 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.

Offering Memorandum
Miscellaneous

Property Facts

Price	$12,561,930 CAD	Property Subtype	Commercial
Sale Type	Investment	Proposed Use	Apartment Units
No. Lots	1	Total Lot Size	1.77 AC
Property Type	Land
Zoning	DCC - District Center Core

Price	$12,561,930 CAD
Sale Type	Investment
No. Lots	1
Property Type	Land
Property Subtype	Commercial
Proposed Use	Apartment Units
Total Lot Size	1.77 AC
Zoning	DCC - District Center Core

1 Lot Available

Lot

Price	$12,561,930 CAD	Lot Size	1.77 AC
Price Per AC	$7,097,135.36 CAD

Price	$12,561,930 CAD
Price Per AC	$7,097,135.36 CAD
Lot Size	1.77 AC

Description

Phase 1 is fully permitted for 82 units and 2,500 square feet of commercial space on 1.77 acres and is shovel ready, offering a near-term development opportunity with reduced execution risk. Phase 2 spans three adjacent parcels across 5.26 acres and provides the opportunity to develop an additional 291 proposed units.