Plisko Place Apartments

JLL, as exclusive advisor, is pleased to present the outstanding opportunity to acquire Plisko Place Apartments, a brand-new condo-quality asset located in Port Orchard, Washington.

Delivered in July of 2025, Plisko Place Apartments (the “Property” or “Subject”) is a 58-unit midrise property located in Port Orchard, Washington. The Property presents a new investor with best-in-class luxury-grade amenities and unit features, many of which are not available at any other comparable newly-constructed property in Kitsap County. Plisko Place Apartments offers thoughtfully designed 1-bedroom 1-bathroom units, 2-bedroom 2-bathroom units, and 3-bedroom 2-bathroom units, with 20% of units designated as affordable as part of the Multifamily Tax Exemption (MFTE) program in return for a 12-year abatement of taxes on the assessed value of improvements. This highly-amenitized property also features a clubhouse, a fenced-in bark park, bicycle storage, and a picnic area with barbecues.

These condo-quality units are equipped with air conditioning in every unit, full-sized refrigerators, quartz countertops, stainless steel appliances, large walk-in closets, and soft-close cabinets, offering tenants a “no-expense-spared” alternative to homeownership. The Property features 9-foot ceilings in standard units and 12 to 14-foot ceilings in select units, as well as radiant heat in all units.

Located just a 4-minute drive from Port Orchard’s quaint downtown and across the street from a newly-revitalized retail center under new ownership, the Property is surrounded by 1.9 million square feet of retail within a 1.5-mile radius. The Property benefits from the concentrated naval presence brought by Naval Base Kitsap, the largest employer in Kitsap County with 50K employees. With $22 billion in shipyard upgrades pledged by the Navy in 2021, the community has seen a substantial uptick in economic activity, including a $378 million contract signed in September generating 1.2K jobs. Adjacent to two bus stops and just a 4-minute drive from the Port Orchard Foot Ferry and the Bremerton-Annapolis Foot Ferry, and an 18-minute drive to the Bremerton Ferry, the Property offers seamless connectivity to the broader Puget Sound region.