Investment Highlights
- Value-add opportunity: unit interiors are primed for a value-add renovation scheme including new cabinets, countertops, flooring, and appliances - 88% of homes feature classic unit finishes.
- Common area renovations: further upside can be achieved through improving common area amenities and unit patios.
- Well maintained community: Attractive curb appeal with lush, low maintenance landscaping, recently renovated central leasing office and fitness center.
- Balanced unit mix of one-bedroom homes with ±693 square feet and two-bedrooms with ±973 square feet for an average unit square footage of ±889 across both floor plans.
- Convenient access to I-5 with commutes to major employment centers in Pierce County, Kent Valley, SeaTac, Seattle, and Renton, all within 45 minutes.
- Pierce County saw some of the highest rental increases in 2021 at 8.0%. Rents are expected to rise another 8.6% in 2022 while vacancy rates remain below 4.5%. Pierce County's population expected to grow 6.0% by 2026.
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