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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
INVESTMENT ADVISORS
Primary Contact:
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
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well-maintained
value-add opportunity
Address
City, State, Zip
Price
Units
Year Built
Total Size
Lot Size
Zoning
Parcel No.
County
6634 S Tacoma Mall Way
Tacoma, WA 98409
$7,500,000
39
1976
34,140 NRSF
3.10 acres
R4LT, Tacoma
785040-0011
Pierce
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
contact
Phone: 206.521.7220
Fax: 206.521.7222
Privacy | Terms of Use
The Opportunity
/ Professionally-managed and well-kept community with 39 units in Tacoma, WA; 100% occupied with zero delinquency; amenities include patio/balcony, ample parking, and communal laundry
/ Prime value-add opportunity with entirely classic units commanding rents 4% below market rate; additional 12% premium achievable post-repositioning with upgrades including in-unit washer/dryer, stainless-steel appliances, hard surface countertops, and plank flooring
/ Significant slowdown of new deliveries in the submarket due to the overall status of the debt market and costs will allow for more positive absorption to increase occupancy levels and spur rent growth
/ Rental demand is expected to increase through 2024 as net absorption is projected to outpace the rate of new deliveries: net in migration of 11,900 new residents forecast for this year and next year with just 283 units coming online between 3Q24 and 3Q25
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well-maintained
value-add opportunity
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
/ Immediate access to I-5 with downtownTacoma accessible in under 10 minutes; quick drive to Bates Technical College South Campus and Joint Base Lewis-McChord with 54,000+ employees, a major anchor of the area’s economy
Chad Blenz
Senior Director
206.491.3826
chad.blenz@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
Our team
Back to Top
View Listings
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
6634 S Tacoma Mall Way
Tacoma, WA 98409
Units
39
built
1976
total size
34,140 NRSF
county
Pierce
Chad Blenz | Senior Director
206.491.2008
chad.blenz@berkadia.com
206.491.2008
chad.blenz@berkadia.com
Location Map
Our Team
Document Center
The Opportunity
Location Map
Our Team
Document Center
View Opportunity
/ Professionally-managed and well-kept community with 39 units in Tacoma, WA; 100% occupied with zero delinquency; amenities include patio/balcony, ample parking, and communal laundry
/ Significant slowdown of new deliveries in the submarket due to the overall status of the debt market and costs will allow for more positive absorption to increase occupancy levels and spur rent growth
/ Prime value-add opportunity with entirely classic units commanding rents 4% below market rate; additional 12% premium achievable post-repositioning with upgrades including in-unit washer/dryer, stainless-steel appliances, hard surface countertops, and plank flooring
/ Immediate access to I-5 with downtown Tacoma accessible in under 10 minutes; quick drive to Bates Technical College South Campus and Joint Base Lewis-McChord with 54,000+ employees, a major anchor of the area’s economy
/ Rental demand is expected to increase through 2024 as net absorption is projected to outpace the rate of new deliveries: net inmigration of 11,900 new residents forecast for this year and next year with just 283 units coming online between 3Q24 and 3Q25
Zoning
R4LT
Visit the Document Center
Price
$7.5M
total size
3.10 Acres
