Investment Highlights
- CAP Rate of 7.21%: Opportunity to acquire an asset that is operating very well and one that will cashflow substantially even at current interest rate levels.
- Great Basis: $139k / Unit, roughly 60% what it would cost to replicate today, and more than 30% less than what similar properties in the area have traded for recently.
- Well-Designed, Livable Floor Plans: Offers a diverse mix of one-, and two-bedroom homes with an average size of ±765 square feet, featuring functional layouts that appeal to a broad tenant base.
- Excellent Connectivity with Immediate Access to I-5: The asset is located less than 5 minutes away from on-ramps to I-5 Northbound and Southbound, offering residents easy commuter access to major employment centers in Tacoma, Seattle, Bellevue, the Kent Valley, and Olympia.
- Excellent Connectivity with Immediate Access to I-5: Less than 5 minutes away from onramps to I-5 Northbound and Southbound, offering residents easy commuter access to major employment centers in Tacoma, Seattle, Bellevue, the Kent Valley, and Olympia.
- Proximity to Port of Tacoma Expansion: The property is well positioned to benefit from the current expansion of the Port of Tacoma, which is investing significantly in infrastructure to accommodate larger vessels and further solidify its role as a premier West Coast port. The Port currently handles more container volume than the Port of Seattle.
Exclusively listed by
Related Research
More Listings from Gio Napoli
Notch8 Apartments
