Property Details

Introducing HEATHER COURT, a compelling value-add investment opportunity located at 12712 C St S in Tacoma’s desirable Parkland neighborhood. Priced at $5,250,000, this 32-unit garden-style community, originally built in 1971 and renovated in 2017, offers an attractive blend of stability and upside with a current T-3 cap rate of 5.94% and a projected 6.77% cap rate through light improvements and market rent alignment. The property features a mix of one- and two-bedroom apartments averaging 675 SF, enhanced by modern upgrades including a new roof, updated exterior paint, and refreshed interiors, all contributing to a well-maintained, comfortable living environment. Strategically situated near major employment centers and outside Tacoma’s stricter rental regulations, HEATHER COURT benefits from sustained renter demand and the ability to further optimize income. With strong fundamentals, meaningful value-add potential, and a prime Parkland location, HEATHER COURT stands out as a rare opportunity to secure a high-quality asset in a thriving rental market.