7907 Washington BlvdTacoma, WA 98498

Property Details for 7907 Washington Blvd

Year built

2021

Lot size

1.82 AC

Property size (Sq ft)

34,531 SF

Property type

Apartment buildings

Description

This exceptional 42-unit Class A apartment community, built in 2021, presents a compelling investment opportunity. Located in Tacoma, Washington, at 7907 Washington Blvd SW, this property boasts 34,531 square feet across seven buildings situated on a 1.82-acre lot. The units, a mix of spacious one- and two-bedroom apartments, average 802 square feet and feature modern amenities including in-unit air conditioning, quartz countertops, and 9-foot ceilings. The property enjoys excellent street frontage along Washington Blvd and benefits from its proximity to Interstate-5 and downtown Tacoma, offering convenient access to major transportation routes and employment centers. With a strong Net Operating Income (NOI) of $721,543, this low-density community is well-positioned for continued success in a supply-constrained market. The property's location near Joint Base Lewis-McChord, the largest military installation west of the Mississippi, provides access to a large and stable employment base. This presents a rare opportunity to acquire a brand-new, high-quality multifamily asset with potential for further NOI growth through market rent adjustments and continued utility back programs. The property's strong fundamentals and strategic location make it an attractive investment for discerning buyers seeking a stable and appreciating asset in a thriving market. The property is zoned for multifamily use and is in excellent condition.

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.1488

Longitude

-122.542

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