Arrowhead Park presents a prime value-add investment opportunity, offering the chance to acquire a fully occupied asset in Tacoma's expanding Lakewood submarket. The 42-unit property features a diverse unit mix with spacious layouts, including one-, two-, and three-bedroom apartments, appealing to a wide range of tenants. The property’s strategic location offers immediate access to over two million square feet of retail space at the nearby Tacoma Mall and Lakewood Towne Center. Additionally, Fort Steilacoom Park and American Lake enhance the recreational appeal for residents, contributing to the historically stable occupancy rates in the submarket. The property boasts a strong in-place cap rate of 6.59%, with the potential to implement a significant value-add strategy through interior and exterior renovations. All units have been recently upgraded with wood-style laminate flooring, while largely retaining their classic '90s vintage charm. Proposed future renovations include quartz countertops, stainless steel appliances, updated cabinetry, undermount kitchen sinks, and modern fixtures and finishes throughout. These upgrades are projected to yield post-renovation rent premiums of $217 per unit on average and a 15% increase over in-place operating income. Arrowhead Park offers an excellent opportunity to capitalize on Lakewood’s current growth trajectory, bolstered by its proximity to Tacoma and major employers such as the expanding South Sound healthcare sector and Joint Base Lewis-McChord (JBLM). JBLM contributes over $12.1 billion to the region’s economy and is the largest employer in Pierce County. The property's location offers tenants a blend of suburban charm and urban accessibility, offering easy access to employment centers and lifestyle amenities, while maintaining a 25% discount compared to asking rents in Seattle. This combination makes Arrowhead Park a compelling investment opportunity for those looking to leverage the area's economic and demographic trends, resilience, and upward rent growth. Strong Unit Mix: Offering a strong mix of one-, two-, and three-bedroom units averaging 858 square feet, appealing to a wide range of potential renters. Attractive Pricing Per Unit: Priced at a competitive $180,952 per unit and $210 per rentable square foot. Oversized Lot and Parking: Property includes a lot spanning 3.18 acres across three parcels, which includes 34 designated parking spaces and 32 carport spots. Value-Add Opportunity: Strong in-place cap rate of 6.59%, with potential for full renovations and rent increases to market rates; average post-renovation rent premiums are projected at $217 across all unit types. Prime Location: Prime location near Tacoma’s largest employers, retail, and recreation hot spots; quick access to I-5 connecting residents to downtown Tacoma and the Seattle metro area.