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Vista Rainier Apartments 1208-1316 S 27th St 50 Unit Apartment Building $7,450,000 ($149,000/Unit) 5.45% Cap Rate Tacoma, WA 98409
Investment Highlights
- Established 50-unit multifamily community in Tacoma's Hilltop neighborhood.
- Convenient access to downtown Tacoma and major employment centers.
- Surrounded by ongoing neighborhood and corridor redevelopment activity.
- Call listing broker for more information.
Executive Summary
Vista Rainier Apartments is a 50-unit multifamily community located at 1208-1316 S 27th Street in Tacoma’s Hilltop neighborhood. The property was built in 1968 and is situated on approximately 4.02 acres, providing a scale that is difficult to replicate in this established urban area. The asset benefits from a location with convenient access to downtown Tacoma, major employment centers, public transportation routes, and regional transportation corridors. Tacoma continues to serve as a key economic hub within the Puget Sound region, supporting demand from a diverse workforce base and expanding residential population. The property's existing occupancy history and established apartment configuration position it as a stabilized multifamily investment opportunity. Investors have the opportunity to acquire a sizeable apartment community in a market characterized by ongoing redevelopment activity and long-term housing demand drivers.
Property Facts
| Price | $7,450,000 | Building Class | C |
| Price Per Unit | $149,000 | Lot Size | 4.02 AC |
| Sale Type | Investment | Building Size | 41,700 SF |
| Cap Rate | 5.45% | Average Occupancy | 100% |
| No. Units | 50 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1968 |
| Property Subtype | Apartment | Parking Ratio | 1.95/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R41-stgpd | ||
| Price | $7,450,000 |
| Price Per Unit | $149,000 |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| No. Units | 50 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 4.02 AC |
| Building Size | 41,700 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1968 |
| Parking Ratio | 1.95/1,000 SF |
| Zoning | R41-stgpd |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Storage Space
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Freezer
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 5 | - | 430 |
| 1+1 | 3 | - | 750 |
| 2+1 | 41 | - | 848 |
| 3+1.5 | 1 | - | 1,000 |
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Moderately walkable
70/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $3,010,700 | |
| Land Assessment | $2,344,300 | Total Assessment | $5,355,000 |
Property Taxes
Parcel Numbers
Land Assessment
$2,344,300
Improvements Assessment
$3,010,700
Total Assessment
$5,355,000
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Contact the Sale Advisor
Vista Rainier Apartments | 1208-1316 S 27th St