Sunset Court Apartments 2305 S 74th St 21 Unit Apartment Building $3,750,000 ($178,571/Unit) 5.87% Cap Rate Tacoma, WA 98409

Paragon Real Estate Advisors is pleased to present Sunset Court Apartments, a well-maintained 21-unit multifamily investment located at 2301 S 74th St, Tacoma WA 98409. Positioned in a central Tacoma location with immediate access to I-5, Downtown Tacoma, and neighboring cities, the property is ideally situated to capture strong renter demand in one of Pierce County’s most active rental corridors.
Built in 1972, Sunset Court features an attractive mix of spacious one- and two-bedroom apartments with functional layouts. Half of the units have already been upgraded with modern interior finishes and the addition of in-unit washer and dryer. The remaining classic units provide a clear and immediate path for renovation and rent growth under new ownership.
With current rents below market for comparable units in Tacoma, revenue can be further enhanced through continued interior improvements and operational efficiencies. The property offers ample on-site parking, landscaped outdoor space, and multiple avenues to drive additional income and long-term value.
A tenant’s desirable location near major employment centers, proven performance, and multiple avenues for income enhancement, Sunset Court Apartments represents a compelling opportunity to acquire a well-positioned asset with strong long-term value potential in a growing Pierce County apartment market.