Investment Highlights
- Well-Maintained Assets: Both properties have had ample capital reinvested into them recently. Each property has received new roofs, significant renovations to common areas, and other improvements.
- Light Value-Add Upside: A majority of the homes (85%) at Sienna Park retain classic finishes. The remainder of units at Sienna Park (15%) along with all homes at Sienna have been lightly renovated.
- Large Floor Plans: Well-designed floor plans offering one-, two-, and three-bedroom homes averaging ±972 square feet. Eight townhomes at Sienna feature two-bedroom, one-and-a-half-bathroom units.
- Attractive Assumable Financing: Prospective buyers can choose to assume the existing financing at either or both properties. The interest rate on each loan is 4.23% and both are interest only for the remaining term.
- South Puget Sound Location: Convenient accessibility to Interstate 5 and State Route 512, providing easy commutes to major employment centers in downtown Tacoma, Pierce County, Kent Valley, SeaTac, Seattle, and Renton.
- Lower Regulatory Environment: Located just outside the Tacoma city limits, Sienna and Sienna Park are not subject to the more punitive landlord/tenant laws of Tacoma proper. Location is governed by county-level rental laws, which are much more favorable than those of Tacoma, Seattle, and other locations in the Seattle MSA.
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