Opportunity to acquire an 80-unit residential community in Tacoma, WA, with excellent proximity to nearby transit stops, grocery, schools, and local jobs

Investment Highlights

80 luxury apartment units in growing Fern Hill.Over the past decade and within a two-mile radius of the property, along Pacific Ave, 9 properties totaling 383 units have been built, and current vacancy is less than 3%.
Pacific Ridge features spacious floor plans consisting of predominantly 1-bedroom and 2-bedroom, and two Studio units.
Pacific Ridge is near an abundance of shopping and dining options, and provides residents with easy access to strong employment along Pacific Ave.
Pierce Transit plans to connect downtown Tacoma and Spanaway by Rapid Bus. The project is anticipated to be complete in 2027, and will include a stop next to Pacific Ridge, which will connect residents to downtown Tacoma in under 15 minutes.
Excellent location one exit north on I-5 from the main gate at Joint Base Lewis-McChord, the largest military installation west of the Mississippi, providing over 50,000 jobs to active duty and civilian employees.
Pierce County is home to a dense defense economy, with 46,000 jobs tied to the military and defense industry, and supported by $2.9B in annual expenditures by the Dept. of Defense, or approximately $3,300 per Pierce County Resident.