706 Fawcett Ave Tacoma, WA 98402

This exceptional 0.41-acre development site is located at 706 Fawcett Ave, Tacoma, WA 98402, in Pierce County. Zoned DCC, this property presents a unique opportunity for mixed-use commercial and residential development. Preliminary plans envision approximately 125 studio, one-, and two-bedroom units, averaging 605 square feet each. Its prime location in an Opportunity Zone within the vibrant downtown core offers unparalleled access to amenities and major employers. Situated just five blocks from the Old City Hall Light Rail Station, it benefits from a Walk Score of 97, placing it within easy walking distance of MultiCare and the University of Washington Tacoma. The site's proximity to the Tacoma Link light rail expansion and the Port of Tacoma, a major logistics hub, further enhances its investment potential. The high demand for rental housing in this area, with over 71% of households within a one-mile radius being renter-occupied, makes this a compelling investment opportunity. The property's APN is 2007100012, 2007100020. The asking price is $2,995,000. This location is considered a "Walker's Paradise" and is in a highly sought-after submarket, attracting both developers and residents due to its lively atmosphere and convenient access to key amenities. The strong rental market, coupled with the projected growth of Tacoma, positions this site for significant long-term returns.