SELLER FINANCING AVAILABLE. The Villa Apartments is a well-located 10-unit apartment building situated in one of Tacoma's most coveted and historically stable submarkets - North Tacoma. Offered to the market for the first time in over 25 years, this is a rare opportunity to acquire a long-held, carefully maintained asset in a neighborhood that consistently commands strong tenant demand and above-average rent growth. The property presents a compelling value-add investment profile, with dated interiors that reflect the building's long-term ownership and offer a clear path to modernization. A strategic renovation program targeting updated finishes, fixtures and exteriors would allow a new owner to drive meaningful rental growth and unlock significant upside in stabilized value. Adding to the opportunity, the seller is offering attractive financing terms, providing qualified buyers with a distinct advantage in today's elevated interest rate environment. North Tacoma's appeal is well established - tree-lined streets, walkable neighborhoods, proximity to the University of Puget Sound, Tacoma's best retail and dining corridors, and consistently low vacancy make it one of the most sought-after multifamily locations in the South Sound.
| MLS # | 2553708 |
|---|---|
| Listing Type | For Sale |
| Sub-Type | Resale |
| Status | Active |
| Year | 1954 |
| Days On Site | 73 |
| Listing Provided By | Kidder Mathews | David A. Kelley |
| SQ Feet | 6,325 |
|---|---|
| Car Port | Yes |
| Story(s) | 2 |
| Units | 10 |
| Zoning | Multi-Family |
| Acreage | 0.29 |
| Property | 15846 |
|---|
| State | WA |
|---|---|
| County | Pierce |
| City | Tacoma |
| Zip Code | 98403 |
| Area | 13 North Tacoma |
| Community Name | North Tacoma |
| Listing VS Median (in North Tacoma) | |
Price: $2,000,000 low | high Med: $626,000 sqft: 6,325 low | high Med: 1,489 $ / sqft: $316 low | high Med: $421 On site: 73 low | high Med: 69.5 | |
| State | WA |
|---|---|
| County | Pierce |
| City | Tacoma |
| Zip Code | 98403 |
| Area | 13 North Tacoma |
| Community Name | North Tacoma |
| Listing VS Median (in North Tacoma) | |
Price: $2,000,000 low | high Med: $626,000 sqft: 6,325 low | high Med: 1,489 $ / sqft: $316 low | high Med: $421 On site: 73 low | high Med: 69.5 | |