Rainier View Court Townhomes
For Sale
$4,950,000
17821-17825 22nd Ave E, Tacoma, WA 98445
Investment opportunity: townhome-style apartments with condo conversion potential.
Property SizeContact for details
Days on Market158
Property Features for 17821-17825 22nd Ave E
General Information
Standard status
Active
Property subtype
Multifamily
Amenities
Built in 2021 with modern finishes, providing a stabilized asset with low maintenance needs and long-term appreciation potential.
Large townhome-style units with high-end finishes and garage parking drive strong tenant demand and support premium rental positioning in the Frederickson submarket.
Mix of 2- and 3-story townhomes with condo-ready setup allows continued rental income today and a future exit through individual unit sales.
Building Details
Units
12
Listing Agency:
Seattle Office
Listed By:
Scott Morasch · License #License(s): WA: 4731
(206) 826-5724
Source:
Marcusmillichap
Added: Apr 3
Changed: Sep 6
Last Checked: Sep 7 at 4:46AM
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 Seattle Office
Investment Insights
Based on property information with market context.
Rainier View Court presents an investment opportunity offering operational stability and future flexibility. The property is currently operated as rental apartments and benefits from strong demand for large-format, townhome-style housing in a growing Pierce County submarket. Newer construction and durable building materials minimize ongoing capital expenditure requirements, while the high-quality finishes and garage parking support sustained rental performance. The property is already prepared for condominium conversion, providing a secondary exit strategy through individual unit sales when market conditions warrant. This combination of modern construction, premium unit mix, and optionality positions Rainier View Court Townhomes as a compelling long-term investment for both income-focused and value-oriented buyers. The property's capitalization rate is 5.55%.
Key Highlights
- Strong demand for large‑format, townhome‑style housing in a growing Pierce County submarket.
- Prepared for condominium conversion, offering a secondary exit strategy.
- Newer construction and durable building materials minimize capital expenditure requirements.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
104
Businesses Nearby
Explore this area
Business Placement
Demographics for 98445, WA
33,927
Population
12,546
Households
2.7
Avg Household Size
36
Median Age
19%
College-Educated
90%
High-School Grad
10.4 sq mi
ZIP Area
3,262
Density / Sq Mi
$90,063
Median Household Income
$48,574
Median Earnings
$1,721
Median Rent
$413,200
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 - Investment opportunity: townhome-style apartments with condo conversion potential.
Where is this apartment building located?
The property is located at 17821-17825 22nd Ave E Tacoma, WA.
What is the asking price?
The asking price for this property is $4,950,000.
What are key features of this property?
This property features: Strong demand for large‑format, townhome‑style housing in a growing Pierce County submarket.; Prepared for condominium conversion, offering a secondary exit strategy.; Newer construction and durable building materials minimize capital expenditure requirements.
