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17825 22nd Ave E - Rainier View Court Townhomes 12 Unit Apartment Building Offered at $5,095,000 at a 5.63% Cap Rate Tacoma, WA 98445
INVESTMENT HIGHLIGHTS
- Built in 2021 with modern finishes, providing a stabilized asset with low maintenance needs and long-term appreciation potential.
- Mix of 2- and 3-story townhomes with condo-ready setup allows continued rental income today and a future exit through individual unit sales.
- Large townhome-style units with high-end finishes and garage parking drive strong tenant demand and support premium rental positioning in the Frederic
EXECUTIVE SUMMARY
Marcus & Millichap is pleased to present the opportunity to acquire Phase II of the Rainier View Court Townhomes, a 12-unit townhome-style multifamily community completed in 2021 and located at 17821–17825 22nd Ave E in Frederickson, Washington. Tucked behind an established condominium community, the property offers a quiet, residential setting paired with modern construction, upscale finishes, and spacious floor plans that appeal to long-term tenants. Built with longevity in mind and maintained in
excellent condition, Rainier View Court provides investors with a stable, low-maintenance asset and a compelling long-term hold opportunity.
excellent condition, Rainier View Court provides investors with a stable, low-maintenance asset and a compelling long-term hold opportunity.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $5,095,000 | Property Type | |
| Price Per Unit | $424,583 | Apartment Style | Townhome |
| Sale Type | Investment | Building Size | 20,721 SF |
| Cap Rate | 5.63% | No. Stories | 3 |
| No. Units | 12 | Year Built | 2021 |
| Price | $5,095,000 |
| Price Per Unit | $424,583 |
| Sale Type | Investment |
| Cap Rate | 5.63% |
| No. Units | 12 |
| Property Type | |
| Apartment Style | Townhome |
| Building Size | 20,721 SF |
| No. Stories | 3 |
| Year Built | 2021 |
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17825 22nd Ave E - Rainier View Court Townhomes
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