12720 C St S Tacoma, WA 98444

Building Details

Year Built

1971

Listing Agency BERKADIA REAL ESTATE ADVISORS, LLC s***@berkadia.com

Listed by STEVEN CHATTIN

Source Corcoran

Added: Feb 5 Checked: Jul 19 at 4:16 am

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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%.

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FAQs

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%.