MARKETING DESCRIPTION: Indigo Apartments is a true turnkey investment opportunity in one of the most sought-after rental markets in the Seattle area. The property underwent a complete renovation in 2024, converting the original 1983-built structure into a brand-new multifamily community with 91 units. After meticulous renovations, the property offers high-quality finishes and a compelling value proposition for new ownership. Post-renovation, all units feature vinyl plank flooring, custom cabinetry, stainless steel appliances, quartz countertops, and modern lighting. New ownership has the opportunity to increase net operating income over $100,000 by aligning rents with market rates and implementing minimal operational efficiencies. Building amenities include two on-site laundry facilities, a clubhouse, and ample surface parking, creating additional income opportunities. Located within the broad-based economy of the South Puget Sound, Indigo benefits from Tacoma's steady housing demand and proximity to popular attractions like the Tacoma Mall, major healthcare institutions, and the Port of Tacoma - the fourth-largest container gateway in North America. Tacoma offers a preferable cost of living at a 20% discount compared to Seattle, attracting a diverse renter base. The market is tightening, evidenced by positive net absorption projections through 2027 as construction starts slow down after the peak in 2024. This vibrant market provides a balanced urban living experience and a strategic advantage for investors looking to capitalize on Tacoma's future growth trajectory. INVESTMENT HIGHLIGHTS: Turnkey Asset Priced Below Replacement Cost: This garden-style property, originally built in 1983, underwent meticulous renovations in 2024, transforming it into a new multifamily community with high-quality interior finishes and abundant community amenities. Compelling Pricing: Indigo offers a strong value proposition with significant rent growth potential; market rents are projected to increase 12% over current rates. Significant Capital Improvements: Ownership invested over $3 million in capital improvements, remodeling all unit interiors; enhancements included restriping and resealing the parking lot, a complete remodel of the clubhouse and business office, upgrading electrical and plumbing systems, installing new gas boilers, and enhancing fire protection measures. High-End Amenities Offer Competitive Advantage: Spanning nearly three acres, this low-density property boasts highly attractive community amenities, such as a clubhouse with a coffee bar and entertainment center, leasing office, fitness center, gated entryway, and community laundry facilities; luxury apartment features include air conditioning, energy-efficient, stainless-steel appliances, private patios, wood-style flooring, and modern lighting fixtures. Ideal Unit Mix with Tremendous Upside: The property consists of 74 studios, 16 one-bedroom units, and a large two-bedroom unit, offering high rents per square foot and the opportunity to increase net operating income by 15% with minimal expense adjustments and by aligning rents with market rates. Prime Location: Tacoma provides a robust rental market and exceptional quality of life, supported by a diverse economy in healthcare, education, trade and transportation, and military defense; located just off Interstate 5, Indigo offers easy connectivity to employment hubs, outdoor activities, Lakewood Towne Center, and school systems. Bus and Light Rail Service: Indigo is an eight-minute drive from Hilltop Station, less than six miles from the St. Joseph Light Rail station, and 0.1 miles from Bus Line 55, which services Parkland, Lakewood, and Downtown Tacoma.