907-441-6641
901 E 72nd St, Tacoma, WA for Sale
Apartments - FOR SALE
1/17
null | Request Cap Rate

901 E 72nd St
Tacoma, WA 98404
Eastside


HIGHLIGHTS

  • High Cash Flowing Asset With Additional Upside Through Stabilization
  • Modern Construction With Recently Renovated Interiors
  • Ideal Unit Mix of 40% 1BDs & 60% 2BDs

OVERVIEW

Legacy Ridge is a three-story, 40-unit apartment community originally constructed in 2015 with most of the unit interiors renovated from 2022 to present. The property offers an attractive unit mix of (16) One Bedroom/One Bath units and (24) Two Bedroom/Two Bath units measuring approximately 580 square feet and 951 square feet respectively. To date, approximately 81% of the One Bed units and 91% of the Two Bed units have received interior renovations under the current ownership, at an average cost of $8K - $10K per unit. With over 87% of units renovated, modern in-unit amenities, and a unique tenant partnership with Planet Fitness, the property attracts quality residents and achieves premium rents. Investors benefit from strong in-place cash flow, operational efficiencies, and continued upside in cash flow. All units at Legacy Ridge come equipped with full size washers & dryers, dishwashers, ranges, refrigerators, granite counters, luxury vinyl plank flooring and refinished cabinetry/hardware. Renovated units at Legacy Ridge offer Stainless Steel Appliance packages, Luxury Vinyl Plank flooring throughout, and modern Door/Lighting packages. Standard units come with black appliance packages, more classic Vinyl Plank flooring in main areas with Carpet in bedrooms, and classic door/ lighting packages. Top floor units at Legacy Ridge are unique in offering vaulted ceilings, as well.

FOR SALE DETAILS

PRICE

Request Info for Price

# OF UNITS

40

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Legacy Ridge

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2015

PARKING SPACES

53

LAND DETAILS

LAND ACRES

1.09 AC

LAND SF

47,498 SF

ZONING

-

APN/PARCEL ID

032027-2218

ASK ABOUT THIS PROPERTY

Kellan MollMarcus & MillichapMore Info
907-441-6641

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Kellan MollMarcus & MillichapMore Info
907-441-6641

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