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Legacy Ridge Apartments

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Legacy Ridge Apartments

901 E 72nd Street, Tacoma, WA 98404
Multi-Family For Sale Available Cap Rate 5.56% Built 2015 3 floors Zoning: C2
Asking Price
$8,800,000
Total Building32,104 SF
Land47,480 SF land
Parking Total53
& Uncov.
MarketSouth Tacoma
CountyPierce

Read Overview
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Overview

Property ID
183330
Listing ID
704069
Type
Multi-Family
Asset Class
Multi-Family
Zoning
C2

Description

Legacy Ridge is a three-story, 40-unit apartment community originally constructed in 2015 with most of the unit interiors renovated from 2022 to present. The property offers an attractive unit mix of (16) One Bedroom/One Bath units and (24) Two Bedroom/Two Bath units measuring approximately 580 square feet and 951 square feet respectively. To date, approximately 81% of the One Bed units and 91% of the Two Bed units have received interior renovations under the current ownership, at an average cost of $8K - $10K per unit. With over 87% of units renovated, modern in-unit amenities, and a unique tenant partnership with Planet Fitness, the property attracts quality residents and achieves premium rents. Investors benefit from strong in-place cash flow, operational efficiencies, and continued ups

Listing Courtesy of:

KM
Kellan Moll
Marcus & Millichap, Inc.
401 Union Street, 32nd fl,
Seattle, WA 98101
State: WA City: Tacoma ZIP: 98404 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.