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    • Listing Provided by Westlake Associates
    DESCRIPTION

    Hudson Court provides an opportunity to acquire a fully renovated building in a growing developing community just blocks away from Pacific Lutheran University. At the asking price of $5,995,000, the underwriting poses an in-place 5.11% cap rate with a market cap rate of 5.68% on current asking rents. The average 1x1 is in-place at $1084, however most recent 1x1 have rented for $1225. The average 2x1 sits at $1280 with the most recent rent being $1395. This provides 10% rental upside on the proven most recent leasing activity. There is also the opportunity to further pursue the feasibility of adding laundry to the units. Adding laundry demonstrates possible upside of 25%-40% rental upside!

    KEY DETAILS
    • Price:
    • $5,995,000
    • Bedrooms:
    • 48
    • Square Footage:
    • 20,400
    • Acreage:
    • 1.12
    • Year Built:
    • 1972
    • MLS #:
    • NWM1852841
    • Street Address:
    • 14117 C St S
    • City:
    • Tacoma
    • State:
    • WA
    • Postal Code:
    • 98444
    • County:
    • Pierce
    • Area:
    • 69 - Parkland
    • Subdivision:
    • Brookdale
    • Listing Status:
    • For Sale - Pending

    Building

    • Approximate Square Footage Range:
    • 20400
    • Exterior Description:
    • Wood
    • Flooring:
    • Vinyl Plank, Carpet
    • Furnished:
    • Unfurnished
    • Leasable Square Feet:
    • 20400
    • Number Of Units:
    • 30
    • Stories:
    • 2
    • Structure:
    • Multi Family
    • Style:
    • 56 - 10+ Units
    • Total Building Square Footage:
    • 20400
    • Type Of Roof:
    • Composition
    • Year Built:
    • 1972

    Business

    • Annual Insurance Expenses:
    • 12493
    • Net Operating Income:
    • 307271

    Land

    • Lot Size Units:
    • Square Feet
    • Lot Square Footage:
    • 48787
    • Suitable Use:
    • Multi-Family

    Listing

    • On Market Date:
    • 2021-10-13
    • Originating Mls:
    • Nwmls
    • Terms:
    • Cash Out, Conventional

    Location

    • Subdivision:
    • Brookdale

    Money

    • Property Taxes:
    • $31,296
    • Tax Year:
    • 2020

    Structures

    • Parking Spaces:
    • 30
    • Uncovered Parking Spaces:
    • 30

    Systems

    • Sewage Type:
    • Sewer Connected
    • Utilities:
    • Sewer Connected, Electricity Available

    Units

    • Unit 1 Monthly Rent:
    • 1295
    • Unit 1 Name:
    • Z
    • Unit 1 Square Footage:
    • 750
    • Unit 1 Total Bathrooms:
    • 1
    • Unit 1 Total Bedrooms:
    • 2
    • Unit 10 Monthly Rent:
    • 1050
    • Unit 10 Name:
    • Q
    • Unit 10 Square Footage:
    • 600
    • Unit 10 Total Bathrooms:
    • 1
    • Unit 10 Total Bedrooms:
    • 1
    • Unit 11 Monthly Rent:
    • 1250
    • Unit 11 Name:
    • P
    • Unit 11 Square Footage:
    • 750
    • Unit 11 Total Bathrooms:
    • 1
    • Unit 11 Total Bedrooms:
    • 2
    • Unit 12 Monthly Rent:
    • 1395
    • Unit 12 Name:
    • O
    • Unit 12 Square Footage:
    • 750
    • Unit 12 Total Bathrooms:
    • 1
    • Unit 12 Total Bedrooms:
    • 2
    • Unit 13 Monthly Rent:
    • 1150
    • Unit 13 Square Footage:
    • 600
    • Unit 13 Total Bathrooms:
    • 1
    • Unit 13 Total Bedrooms:
    • 1
    • Unit 14 Monthly Rent:
    • 1295
    • Unit 14 Name:
    • M
    • Unit 14 Square Footage:
    • 750
    • Unit 14 Total Bathrooms:
    • 1
    • Unit 14 Total Bedrooms:
    • 2
    • Unit 15 Monthly Rent:
    • 995
    • Unit 15 Name:
    • L
    • Unit 15 Square Footage:
    • 600
    • Unit 15 Total Bathrooms:
    • 1
    • Unit 15 Total Bedrooms:
    • 1
    • Unit 16 Monthly Rent:
    • 1295
    • Unit 16 Name:
    • K
    • Unit 16 Square Footage:
    • 750
    • Unit 16 Total Bathrooms:
    • 1
    • Unit 16 Total Bedrooms:
    • 2
    • Unit 17 Monthly Rent:
    • 1200
    • Unit 17 Name:
    • J
    • Unit 17 Square Footage:
    • 750
    • Unit 17 Total Bathrooms:
    • 1
    • Unit 17 Total Bedrooms:
    • 2
    • Unit 18 Monthly Rent:
    • 1050
    • Unit 18 Name:
    • I
    • Unit 18 Square Footage:
    • 600
    • Unit 18 Total Bathrooms:
    • 1
    • Unit 18 Total Bedrooms:
    • 1
    • Unit 19 Monthly Rent:
    • 1295
    • Unit 19 Name:
    • H
    • Unit 19 Square Footage:
    • 750
    • Unit 19 Total Bathrooms:
    • 1
    • Unit 19 Total Bedrooms:
    • 2
    • Unit 2 Monthly Rent:
    • 1295
    • Unit 2 Name:
    • Yes
    • Unit 2 Square Footage:
    • 750
    • Unit 2 Total Bathrooms:
    • 1
    • Unit 2 Total Bedrooms:
    • 2
    • Unit 20 Monthly Rent:
    • 1050
    • Unit 20 Name:
    • G
    • Unit 20 Square Footage:
    • 600
    • Unit 20 Total Bathrooms:
    • 1
    • Unit 20 Total Bedrooms:
    • 1
    • Unit 21 Monthly Rent:
    • 1250
    • Unit 21 Name:
    • F
    • Unit 21 Square Footage:
    • 750
    • Unit 21 Total Bathrooms:
    • 1
    • Unit 21 Total Bedrooms:
    • 2
    • Unit 22 Monthly Rent:
    • 1345
    • Unit 22 Name:
    • E
    • Unit 22 Square Footage:
    • 750
    • Unit 22 Total Bathrooms:
    • 1
    • Unit 22 Total Bedrooms:
    • 2
    • Unit 23 Monthly Rent:
    • 1345
    • Unit 23 Name:
    • Dd
    • Unit 23 Square Footage:
    • 750
    • Unit 23 Total Bathrooms:
    • 1
    • Unit 23 Total Bedrooms:
    • 2
    • Unit 24 Monthly Rent:
    • 1195
    • Unit 24 Name:
    • D
    • Unit 24 Square Footage:
    • 600
    • Unit 24 Total Bathrooms:
    • 1
    • Unit 24 Total Bedrooms:
    • 1
    • Unit 25 Monthly Rent:
    • 1050
    • Unit 25 Name:
    • Cc
    • Unit 25 Square Footage:
    • 600
    • Unit 25 Total Bathrooms:
    • 1
    • Unit 25 Total Bedrooms:
    • 1
    • Unit 26 Monthly Rent:
    • 1250
    • Unit 26 Name:
    • C
    • Unit 26 Square Footage:
    • 750
    • Unit 26 Total Bathrooms:
    • 1
    • Unit 26 Total Bedrooms:
    • 2
    • Unit 27 Monthly Rent:
    • 1125
    • Unit 27 Name:
    • Bb
    • Unit 27 Square Footage:
    • 750
    • Unit 27 Total Bathrooms:
    • 1
    • Unit 27 Total Bedrooms:
    • 2
    • Unit 28 Monthly Rent:
    • 1150
    • Unit 28 Name:
    • B
    • Unit 28 Square Footage:
    • 600
    • Unit 28 Total Bathrooms:
    • 1
    • Unit 28 Total Bedrooms:
    • 1
    • Unit 29 Monthly Rent:
    • 1195
    • Unit 29 Name:
    • Aa
    • Unit 29 Square Footage:
    • 600
    • Unit 29 Total Bathrooms:
    • 1
    • Unit 29 Total Bedrooms:
    • 1
    • Unit 3 Monthly Rent:
    • 950
    • Unit 3 Name:
    • X
    • Unit 3 Square Footage:
    • 600
    • Unit 3 Total Bathrooms:
    • 1
    • Unit 3 Total Bedrooms:
    • 1
    • Unit 30 Monthly Rent:
    • 1395
    • Unit 30 Name:
    • A
    • Unit 30 Square Footage:
    • 750
    • Unit 30 Total Bathrooms:
    • 1
    • Unit 30 Total Bedrooms:
    • 2
    • Unit 4 Monthly Rent:
    • 1250
    • Unit 4 Name:
    • W
    • Unit 4 Square Footage:
    • 750
    • Unit 4 Total Bathrooms:
    • 1
    • Unit 4 Total Bedrooms:
    • 2
    • Unit 5 Monthly Rent:
    • 1095
    • Unit 5 Name:
    • V
    • Unit 5 Square Footage:
    • 600
    • Unit 5 Total Bathrooms:
    • 1
    • Unit 5 Total Bedrooms:
    • 1
    • Unit 6 Monthly Rent:
    • 1195
    • Unit 6 Name:
    • U
    • Unit 6 Square Footage:
    • 750
    • Unit 6 Total Bathrooms:
    • 1
    • Unit 6 Total Bedrooms:
    • 2
    • Unit 7 Monthly Rent:
    • 1250
    • Unit 7 Name:
    • T
    • Unit 7 Square Footage:
    • 750
    • Unit 7 Total Bathrooms:
    • 1
    • Unit 7 Total Bedrooms:
    • 2
    • Unit 8 Monthly Rent:
    • 1225
    • Unit 8 Name:
    • S
    • Unit 8 Square Footage:
    • 600
    • Unit 8 Total Bathrooms:
    • 1
    • Unit 8 Total Bedrooms:
    • 1
    • Unit 9 Monthly Rent:
    • 1195
    • Unit 9 Name:
    • R
    • Unit 9 Square Footage:
    • 750
    • Unit 9 Total Bathrooms:
    • 1
    • Unit 9 Total Bedrooms:
    • 2

    Source

    Disclaimer: The information contained in this listing has not been verified by the member's firm and should be verified by the buyer.

    WANWMLS
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    SCHOOL RATINGS
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    SCHOOL DISTRICT: TACOMA

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