Addison St Multifamily Portfolio Multi-Family FOR SALE


Lakewood, WA - Lakeview Tacoma
$4,500,000 USD
253-242-2224
, Lakewood, WA for Sale
$4,500,000 USD
Multi-Family - FOR SALE
1/6
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Addison St Multifamily Portfolio
Lakewood, WA
Lakeview Tacoma


HIGHLIGHTS

  • 3.5% Debt until 2031. Lender wants to keep the debt at below market terms subject to borrower qualifying
  • Large lot with tons of parking, feels more like a house than an apartment.
  • Yard for pets and pet rent $45 each

OVERVIEW

Lakewood Gardens II and Coho Apartments are offered together as a 30-unit Addison Street multifamily portfolio or may be purchased separately. Lakewood Gardens II, located at 10901 Addison Street SW, contains 20 units and is offered at $3,000,000. Coho Apartments, located at 11021 Addison Street SW, contains 10 units and is offered at $1,500,000. The combined individual asking prices total $4,500,000, or $150,000 per unit. Negotiated portfolio terms may be considered. Together, the properties offer approximately 18,016 square feet of gross building area, 1.651 acres of land, and approximately 55 surface parking spaces. Both properties are zoned MF3 within the Lakewood Station District and offer value-add potential through continued unit improvements, rent optimization, utility reimbursement, laundry operations, and other operational efficiencies. Both properties currently have loans with the same lender at a 3.5% interest rate through 2031. The lender has expressed interest in retaining the loans and discussing below-market financing terms with qualified purchasers. Any loan retention, assumption, modification, or replacement financing is subject to lender underwriting, borrower qualification, documentation, and final approval. Current rent rolls, operating statements, repair and improvement information, and additional due-diligence materials are available to qualified purchasers. Properties are offered subject to prior sale, withdrawal, errors, and omissions. Buyers must independently verify all property, zoning, condition, financial, and financing information.

ASK ABOUT THIS PROPERTY

Derek Edwards201 15th Ave LLCMore Info
253-242-2224

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Derek Edwards201 15th Ave LLCMore Info
253-242-2224

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