9009 Hosmer StTacoma, WA 98444

Property Details for 9009 Hosmer St

Year built

1972

Construction

WOOD FRAME

Lot size

0.40 AC

Property size (Sq ft)

9,408 SF

Zone code

R3

Property type

Apartment buildings

APN

4530600171

APU

4530600171

Description

This exceptional value-add opportunity presents a 32-unit apartment building, known as Aladdin Townhomes, situated on a 1.68-acre lot in Tacoma, Washington. The property consists of four, two-story buildings totaling 37,664 square feet of net rentable space, offering a compelling mix of spacious two-bedroom townhome-style units averaging 1,177 square feet. Currently boasting a 6.03% cap rate and a $376,827 NOI, the property presents significant upside potential. A recent unit renovation demonstrated a $200 monthly rent premium with an upgrade cost under $14,000, indicating substantial room for rent increases across the remaining units. The property features 68 parking spaces and is conveniently located less than two miles from South Tacoma Village, offering abundant shopping and dining options. Its proximity to Joint Base Lewis-McChord (JBLM) further enhances its appeal. The asking price is $6,250,000, translating to $195,312.50 per unit and $165.94 per square foot. A pro-forma analysis projects a 7.41% cap rate and a $463,364 NOI, highlighting the significant potential for increased profitability. The property's APN is 453060-0-110, 453060-0-120, 453060-0-130, 453060-0-140, 453060-0-150, 453060-0-160, & 453060-0-171. This property is also available for purchase alongside a neighboring 79-unit apartment complex. Built in 1972, this property offers a strong foundation for a savvy investor seeking immediate rental upside and long-term growth.

Location Insight

City

Tacoma

County

Pierce

State

Washington

Latitude

47.1751

Longitude

-122.463

CBSA code

42660

CBSA name

SEATTLE-TACOMA-BELLEVUE, WA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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