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Marguerite Apartments

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Marguerite Apartments

1002 N J St, Tacoma, WA 98403
Multi-Family For Sale Available Built 1967 3 floors Zoning: HMR-SRD-VSD-25-HIST
Asking Price
$3,250,000
Total Building11,019 SF
Land8,712 SF land
ConstructionBrick,Masonry,Wood
MarketNorth Tacoma
CountyPierce

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Overview

Property ID
185944
Listing ID
701556
Type
Multi-Family
Asset Class
Multi-Family
Zoning
HMR-SRD-VSD-25-HIST

Description

INVESTMENT HIGHLIGHTS:~True "A" North Tacoma LocationZero units are under construction in N. Tacoma submarket, when shovels go down returns go up as we enter a new rent growth cycle in coveted N. Tacoma. ~Well Maintained & RenovatedNew siding and paint, new roofs, nine units underwent renovations, positioning assets for immediate rent growth. ~Perfect Moderate Lift Value-Add New investor to complete renovations on five remaining units, add washers/dryers throughout, and convert the plumbed laundry room into a new studio apartment to boost income to 7.22% market cap rate. Plans for a new studio are included in the sale. ~Outsized Return Potential Prime market positioning creates a projected End-of-Year-5 capitalized value of $4,560,000, delivering a potential equity gain of $1

Listing Courtesy of:

GB
Gabe Blake
Blake Investment Advisors
6834 51st Ave NE,
Seattle, WA 98115
State: WA City: Tacoma ZIP: 98403 Type: For Sale

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Disclaimer: The information contained in this listing has not been verified by Muljat Commercial and should be verified by the buyer.