5416 S M St - Apartments FOR SALE


Tacoma, WA 98408- South End
$4,750,000 USD
206-491-2008
5416 S M St, Tacoma, WA for Sale
$4,750,000 USD
Apartments - FOR SALE
1/10
null | Request Cap Rate

5416 S M St
Tacoma, WA 98408
South End


HIGHLIGHTS

  • Offered at less than $160K per unit, White Rock presents a strong value proposition with high rent growth potential
  • The property consists of 30 studio units averaging 413 SF, providing enhanced operational efficiency and stable rental income
  • Opportunity to significantly increase net operating income with minimal expense adjustments and an 11.5% rent increase to align with market rates
  • Projections indicate a 7.03% market pro forma cap rate, reflecting the property's strong income potential relative to its market value
  • Tacoma offers a robust rental market & exceptional quality of life, with proximity to educational institutions, transit, healthcare, and entertainment

OVERVIEW

Introducing **White Rock Apartments**, an exceptional turnkey property strategically located at 5416 South M St, Tacoma, WA 98408. Boasting 30 studio apartments averaging 413 square feet, this meticulously renovated asset offers stable rental income and substantial upside potential. Recent upgrades include vinyl plank flooring, stainless steel appliances, quartz countertops, and modern amenities. With one unit remaining for renovation, there's an opportunity to maximize rental returns. Features like on-site laundry facilities and surface parking enhance tenant satisfaction and increase revenue streams. Located in Tacoma's healthcare hub near Tacoma Mall, the property benefits from steady housing demand and a thriving rental market. Priced attractively at under $160,000 per unit, White Rock presents a compelling investment opportunity with potential for high rent growth. Don't miss the chance to own this prime property in a sought-after location with excellent income potential and market value growth.

FOR SALE DETAILS

PRICE

$4,750,000 USD

PRICE/SF

$176 USD /SF

# OF UNITS

30

PRICE/UNIT

$158,333

CAP RATE

Request Cap Rate

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

White Rock Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1963

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.34 AC

LAND SF

14,623 SF

ZONING

C1, Tacoma

APN/PARCEL ID

778500-6910

ASK ABOUT THIS PROPERTY

Chad BlenzBerkadiaMore Info
206-491-2008

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Chad BlenzBerkadiaMore Info
206-491-2008

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.