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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
Beau Krueger
Associate Director
beau.krueger@berkadia.com
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
INVESTMENT ADVISORS
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
MORTGAGE BANKING
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Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
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perfect repositioning opportunity near JBLM
Our Team
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Repositioning Opportunity in Tacoma, WA with Attractive Loan Assumption at 4.51%
Address
City, State, Zip
Units
Year Built
Total Size
Parcel No.
Total Lot Size
Zoning
County
11424 A St S
Tacoma, WA 98444
14
1995
12,950 NRSF
031909-6009
0.63 acres
UCOR
Pierce
spacious units,
positive leverage day 1
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 loan brokerage business in Nevada.
© 2023 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 the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://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
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/ Ideal repositioning opportunity; well maintained asset featuring 14 spacious one and two-bedroom units with ample parking
/ Assumable loan of $1,991,000 at 4.51% through October 2027 with 1 year of interest-only payments remaining
/ 50% of units have been extensively renovated over the past 2 years, leaving 7 units in classic condition; in-place rents up to $162 below market rate with further premiums achievable upon renovation
/ Quick drive from Joint Base Lewis-McChord with 54,000+ employees, a major anchor of the area’s economy
/ Violet Meadows is comprised of 1 one-bed and 13 two-bed units averaging 925 SF
/ Also on the property is an approximately 800 square-foot workshop/commercial space with 20-foot ceilings, currently rented for $800/month
/ Property amenities include in-unit laundry, off-street and covered parking, and well maintained grounds
/ New ownership provided positive leverage Day 1, with excellent cash flow through 2027 with further property renovations
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/ Short walk from Pacific Lutheran University with 2,700 students and ranked by Princeton Review as one of the 2022 Best Western Colleges
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
/ Short walk from Pacific Lutheran University with 2,700 students and ranked by Princeton Review as one of the 2022 Best Western Colleges
/ Less than 5 miles from Lakewood Station, Lakewood’s mass transit hub, providing rail and express bus service throughout the Puget Sound
Artur Otto
Associate Director
artur.otto@berkadia.com
/ Less than 5 miles from Lakewood Station, Lakewood’s mass transit hub, providing rail and express bus service throughout the Puget Sound
Michael Manolides
Associate Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
artur Otto
Associate Director
artur.otto@berkadia.com
Beau krueger
Associate Director
beau.krueger@berkadia.com
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
MORTGAGE BANKING
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 loan brokerage business in Nevada.
© 2023 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 the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://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
/ 50% of units have been lightly upgraded to include new appliances, flooring and carpeting, modern lighting; further renovations include hard-surface countertops and undermount sinks
Patrick harmon
Associate Director
patrick.harmon@berkadia.com
Patrick harmon
Associate Director
patrick.harmon@berkadia.com
Repositioning Opportunity in Tacoma, WA with Attractive Loan Assumption at 4.51%
/ 42% of housing units in Tacoma are renter-occupied; city’s diversification and expansion have made it an attractive relocation spot for both businesses and residents
/ 50% of units have been lightly upgraded to include new appliances, flooring and carpeting, modern lighting; further renovations include hard-surface countertops and undermount sinks
/ In-place rents for the upgraded units average just $54 below market rate
/ 7 classic units average $139 below market, with a further average premium of $118 achievable upon renovation
/ In-place rents for the upgraded units average just $54 below market rate
/ 7 classic units average $139 below market, with a further average premium of $118 achievable upon renovation
/ 42% of housing units in Tacoma are renter occupied; city’s diversification and expansion have made it an attractive relocation spot for both businesses and residents