1411 S Union Ave - Apartments FOR SALE


Tacoma, WA 98405- Central | 
$2,000,000 USD
425-223-0275
1411 S Union Ave, Tacoma, WA for Sale
$2,000,000 USD
Apartments - FOR SALE
1/13
null | 6.31% Cap Rate

1411 S Union Ave
Tacoma, WA 98405
Central


HIGHLIGHTS

  • Offered at a going-in cap rate exceeding 6.3%, delivering strong day-one returns
  • All 12 units feature updated flooring, countertops, appliances, and baths, with several offering in-unit washer/dryers
  • A completed pilot drove $120/month rent premiums for under $4,000 per unit installed, an estimated 36% return on cost
  • Architectural plans and a pre-installed electrical panel support converting the laundry building into a new studio or one-bedroom unit
  • Eight years of completed improvements — new roofing, decks, exterior paint, and upgraded electrical service — lower near-term capital needs
  • Spacious one-, two-, and three-bedroom units averaging 750 to 1,200 square feet supporting broad renter appeal and occupancy stability

OVERVIEW

Marcus & Millichap presents Union Green Apartments, a 12-unit, extensively renovated multifamily asset built in 1968 in Tacoma, WA. The property offers a well-balanced unit mix of four one-bedroom, six two-bedroom, and two three-bedroom units. Offered at $2,000,000 ($166,667/unit) with a going-in cap rate exceeding 6.3%, the property combines strong in-place cash flow with clear value-add upside — including a proven in-unit laundry program and the potential addition of a 13th unit. Eight years of completed capital improvements and fully renovated interiors minimize near-term capex, while current rents sitting below market offer a clear path to further NOI growth.

FOR SALE DETAILS

PRICE

$2,000,000 USD

PRICE/SF

$196 USD /SF

# OF UNITS

12

PRICE/UNIT

$166,667

CAP RATE

6.31%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Union Green Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1968

PARKING SPACES

17

LAND DETAILS

LAND ACRES

0.55 AC

LAND SF

23,958 SF

ZONING

R4L, Tacoma

APN/PARCEL ID

317500-0331

ASK ABOUT THIS PROPERTY

Kellan MollMarcus & MillichapMore Info
425-223-0275

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Kellan MollMarcus & MillichapMore Info
425-223-0275

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.