1224 Yakima AveTacoma, WA 98405

This exceptional 32-unit apartment building, known as The Granada Apartments, presents a compelling investment opportunity in Tacoma, Washington. Located at 1224 S Yakima Ave, 98405, this property boasts a substantial 20,544 square feet of living space spread across four stories. Built in 1924 and extensively renovated between 2016 and 2024, the building offers a blend of historic charm and modern updates. The property sits on a 6,500 square foot lot, zoned R5, providing ample space for the existing structure. The current asking price is $4,100,000, representing an attractive 6.30% capitalization rate. Each of the 32 units benefits from the recent renovations. On-site laundry facilities add to the convenience for residents. Parking is available on the street. The Pierce County Assessor's Parcel Number (APN) is 2012160080. This well-maintained multifamily property offers a strong potential for both immediate income and long-term appreciation, making it an ideal addition to any investment portfolio. The combination of its prime location, updated units, and impressive cap rate makes this a truly remarkable opportunity.