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6634 S Tacoma Mall Way
Tacoma, WA 98409
Olympic Sunset Apartments · Multifamily Property For Sale
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39 Units
Investment Highlights
- Professionally-managed and well-maintained community with 39 units in Tacoma, WA
- Prime value-add opportunity with entirely classic units commanding rents 4% below market rate; additional 12% premium achievable post-repositioning
- Net in-migration of 11,900 new residents forecast for this year and next year with just 283 units coming online between 3Q 2024 and 3Q 2025
- 100% occupied with zero delinquency; amenities include patio/balcony, ample parking, and communal laundry
- Rental demand is expected to increase through 2024 as net absorption is projected to outpace the rate of new deliveries
- Immediate access to I-5 with downtown Tacoma accessible in under 10 minutes
Property Facts
| No. Units | 39 | Building Size | 31,748 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1976 |
| Building Class | C | Parking Ratio | 1.7/1,000 SF |
| Lot Size | 3.10 AC | ||
| Zoning | R4LT | ||
| No. Units | 39 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 3.10 AC |
| Building Size | 31,748 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 1.7/1,000 SF |
| Zoning | R4LT |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Disposal
- Washer/Dryer
- Kitchen
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Carpet
- Patio
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | - | 700 |
| 2+1 | 38 | - | 880 |
Property Taxes
| Parcel Number | 785040-0011 | Improvements Assessment | $2,832,300 |
| Land Assessment | $2,511,300 | Total Assessment | $5,343,600 |
Property Taxes
Parcel Number
785040-0011
Land Assessment
$2,511,300
Improvements Assessment
$2,832,300
Total Assessment
$5,343,600
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