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Spanaway Court 10

The Spanaway Court 10 is a recently stabilized apartment complex with updated electrical and freshly renovated units. This complex is perfectly positioned for future growth in the region. Located along Pacific Avenue, the apartments are situated along transit lines that allow convenient access to employment hubs in Downtown Tacoma. Despite COVID-19 stalling rent growth in many markets, Spanaway has seen 20% Y-o-Y rent growth. Spanaway is one of the fastest growing markets in the region. With low gross rental rates, this submarket provides affordable workforce housing for tenants.

Address

126 161st St S
Spanaway, WA 98378

Type

Multi-Family

Status

Sold

Price

$ 1,485,000

Cap Rate

5.75%

# of Units

10

Price per Unit

$ 148,500

Available SF

6,240 SF

Price Per SF

$ 237.98

Land Area

25,347 SF

Year Built

1965

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