Property Details

1002 N J St

Tacoma, WA 98403

$3,250,000

Available

CBA# 701556 courtesy of CBA Listing firm: Blake Investment Advisors

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Commercial

Property Type

11,019

Bldg Sq Ft

Units

1967

Year Built

Property Overview

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