Introducing CAMDEN TERRACE located at 6208 & 6212 N 26th St, Tacoma, WA 98407. This exclusive property offers 8 value-add units near Tacoma's popular North End, just minutes away from the Narrows Bridge. Camden Terrace presents a lucrative investment opportunity with fully-occupied, well-maintained units featuring modern finishes, new hard surface flooring, and in-unit washers and dryers. Recent upgrades like a new 30-year roof and 50-gallon water heaters ensure quality and reliability. Situated close to Ruston Way and Point Defiance Zoo, residents enjoy easy access to waterfront dining and entertainment. Boasting stable occupancy and competitive market rents, Camden Terrace guarantees reliable rental income and significant growth potential. Ideal for investors seeking a prime location in Tacoma's thriving rental market, this property offers a diverse livework-play environment and convenience to amenities. Don't miss out on the chance to own this prime real estate gem in Tacoma!
-Thoughtful Design: well-designed two-bedroom, one-and-a-half bathroom units featuring modern finishes, new hard surface flooring, and in-unit washers and dryers.
-Prime Location: Adjacent to Tacoma's desirable North End and just north of Ruston Way, providing easy access to waterfront dining, shopping, and entertainment; minutes from the Tacoma Narrows Bridge with close proximity to grocery stores, gyms, coffee shops, and daily conveniences.
-Stable Occupancy: Fully occupied with no delinquency, ensuring reliable rental income for new ownership.
-Quality Cap-Ex Upgrades: Recent upgrades include a new 30-year roof on building 6212 and 50-gallon water heaters throughout the property.
-Competitive Market Rents: Rents are set just below the highest achieving rate of $1,895, proving the opportunity for further rental upside.
-Strong Rental Market: In Tacoma, 45% of housing units are renter-occupied, with 2024 move-ins outperforming 2023; 66% of workers are in white-collar positions, with an average household income of nearly $115,000.
-Additional Upside: Higher rent premiums can be achieved through an expanded renovation scope.