Property Details

Historic Character | Modern Performance | Proven Basis Cascade School Apartments is a 51-unit historic adaptive-reuse multifamily community originally constructed in 1922 and designed by Tacoma-based architectural firm Hill, Mock & Griffin. The property reflects classic Progressive-Era institutional design, featuring high ceilings, expansive windows, and durable structural elements that create a distinctive and highly desirable living environment.The asset has been comprehensively redeveloped, with significant upgrades to building systems and residential interiors while thoughtfully preserving its historic character. This blend of old-world construction and modern finishes positions the property as a unique offering within today’s multifamily landscape.Supported by federal tax credit and city property tax incentives, the investment benefits from an attractive basis and improved long-term cash flow stability.Cascade School Apartments presents a rare opportunity to acquire a stabilized, tax-advantaged historic asset with durable construction, differentiated unit product, and embedded upside. The combination of renovation quality, financial incentives, and long-term growth potential creates a compelling risk-adjusted investment opportunity.