32-Unit Multifamily Investment
For Sale
$5,250,000
Pending
12720 C St S, Tacoma, WA 98444
Value-add multifamily property in Tacoma's Parkland neighborhood.
Property Size675 SF
Days on Market210
Property Features for 12720 C St S
General Information
Standard status
Pending
Size
675 SF
Property subtype
Commercial
Building Details
Year Built
1971
Listing Agency:
BERKADIA REAL ESTATE ADVISORS, LLC
Listed By:
STEVEN CHATTIN
(425) 269-3826
Source:
Corcoran
Added: Feb 5
Changed: Aug 8
Last Checked: Jul 23 at 9:40AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BERKADIA REAL ESTATE ADVISORS, LLC
Investment Insights
Based on property information with market context.
HEATHER COURT is a 32-unit garden-style apartment community located in Tacoma’s Parkland neighborhood. Constructed in 1971 and renovated in 2017, the property offers a blend of stability and upside potential. The property is priced at $5,250,000. The community features a mix of one- and two-bedroom apartments averaging 675 square feet. Modern upgrades include a new roof, updated exterior paint, and refreshed interiors. The property is situated near major employment centers and outside Tacoma’s stricter rental regulations. The current T-3 cap rate is 5.94%, with a projected 6.77% cap rate through light improvements and market rent alignment.
Key Highlights
- Value‑add investment opportunity with a projected 6.77% cap rate through light improvements and market rent alignment.
- 32‑unit garden‑style community in Tacoma's desirable Parkland neighborhood.
- Current T‑3 cap rate of 5.94%.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
664
Businesses Nearby
Explore this area
Business Placement
Demographics for 98444, WA
36,885
Population
13,762
Households
2.7
Avg Household Size
34
Median Age
15%
College-Educated
87%
High-School Grad
6.9 sq mi
ZIP Area
5,346
Density / Sq Mi
$64,464
Median Household Income
$39,829
Median Earnings
$1,581
Median Rent
$369,500
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Value-add multifamily property in Tacoma's Parkland neighborhood.
Where is this apartment building located?
The property is located at 12720 C St S Tacoma, WA.
What is the asking price?
The asking price for this property is $5,250,000.
What are key features of this property?
This property features: Value‑add investment opportunity with a projected 6.77% cap rate through light improvements and market rent alignment.; 32‑unit garden‑style community in Tacoma's desirable Parkland neighborhood.; Current T‑3 cap rate of 5.94%.
