Property Details
7902 27th Street W
University Place, WA 98466
$3,300,000
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Property Overview
Prestige Center is a well-located 19-unit mixed-use building with 10 apartments and 9 ground-floor commercial suites totaling ~15,400 SF on a 27,600 SF lot. The building sits on a corner lot just off Bridgeport Way — University Place's primary retail corridor — offering strong visibility, prominent storefront exposure, and 38 surface parking stalls at a 2.0/unit ratio. The residential component features five one-bedrooms averaging 700 SF and five two-bedrooms averaging 900 SF — generously sized for vintage product in the submarket. The commercial component consists of 9 suites ranging from 800 to 1,000 SF, 100% leased to established local operators.
Property Details
Property Information
Property Type
Residential Income
Subtype
Multi Family
Status
Active
County
Pierce
Neighborhood
University Place
Listed
May 14, 2026
Financial Summary
Cap Rate
6.23%
Net Operating Income
$205,512
Gross Scheduled Income
$339,577
Gross Rent Multiplier
10.29
Total Expenses
$125,194
Vacancy Rate
5.0%
Building & Use
Building Sq Ft
15,400
Leasable Area
15,400 sqft
Total Units
19
Zoning
Multi-Family,Retail
Possible Use
Multi-Family, Retail
Lot Size
27,600 sqft
Year Built
1961
Exterior & Lot
Lot Size
0.63 sqft
Year Built
1961
Exterior Materials
Brick, Stucco, Wood
Sewer
Sewer Connected
Water Source
Public
Lot Features
Corner Lot, Paved, Sidewalk
Exterior Features
Brick, Stucco, Wood
Location
City
University Place
County
Pierce
Coordinates
47.23482, -122.54319
Additional Information
Tax Year
2026
Annual Taxes
$35,148
Possession
Array
Based on information submitted to the MLS GRID as of May 14, 2026 11:30 PM. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
IDX information is provided exclusively for consumers’ personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Copyright 2026 NWMLS. All rights reserved.
