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    7907 Washington Blvd Tacoma, WA 98498

    Sponsored
    For Sale
    Contact for pricing

    Luxury Tacoma Apartments: 42 Units

    Property size:
    34,531 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 42-unit Class A apartment community, built in 2021, presents a compelling investment opportunity. Located in Tacoma, Washington, at 7907 Washington Blvd SW, this property boasts 34,531 square feet across seven buildings situated on a 1.82-acre lot. The units, a mix of spacious one- and two-bedroom apartments, average 802 square feet and feature modern amenities including in-unit air conditioning, quartz countertops, and 9-foot ceilings. The property enjoys excellent street frontage along Washington Blvd and benefits from its proximity to Interstate-5 and downtown Tacoma, offering convenient access to major transportation routes and employment centers. With a strong Net Operating Income (NOI) of $721,543, this low-density community is well-positioned for continued success in a supply-constrained market. The property's location near Joint Base Lewis-McChord, the largest military installation west of the Mississippi, provides access to a large and stable employment base. This presents a rare opportunity to acquire a brand-new, high-quality multifamily asset with potential for further NOI growth through market rent adjustments and continued utility back programs. The property's strong fundamentals and strategic location make it an attractive investment for discerning buyers seeking a stable and appreciating asset in a thriving market. The property is zoned for multifamily use and is in excellent condition.

    Property Features for 7907 Washington Blvd

    General Information

    Property type
    Multifamily properties
    Square Feet
    34,531 SF
    Class
    A
    Lot Size
    79,279 SF

    Building Details

    Year Built
    2021
    Buildings
    7
    Units
    42

    HighLights

    • 42‑unit luxury apartment community in Lakewood, a high‑growth city.
    • Prime location, 4 minutes from I‑5 and Joint Base Lewis‑McChord, a major employment center with over 50,000 jobs.
    • Spacious 1 & 2‑bedroom units averaging 802 sq ft in a low‑density garden‑style setting on 1.82 acres.
    • Brand‑new asset in an undersupplied market with value‑add potential through market rent increases and utility programs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Building Supply Auto Repair Shop Accounting Firm Auto Parts Store Bar & Pub

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Tacoma
    County
    Pierce
    State
    Washington
    Longitude
    -122.5420913
    Latitude
    47.1488416

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    FAQs

    What type of property is this?
    Multifamily property - Luxury Tacoma Apartments: 42 Units
    Where is this multifamily property located?
    The property is located at 7907 Washington Blvd Tacoma, WA.
    What are key features of this property?
    This property features: 42-unit luxury apartment community in Lakewood, a high-growth city.; Prime location, 4 minutes from I-5 and Joint Base Lewis-McChord, a major employment center with over 50,000 jobs.; Spacious 1 & 2-bedroom units averaging 802 sq ft in a low-density garden-style setting on 1.82 acres.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7907 Washington Blvd Tacoma, WA 98498
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