Bayswater Apartments (Status: Pending) 0

2628, Cascade Pl, University Place, WA  98466

A rare opportunity to invest in a desirable community just minutes from downtown Tacoma. This 34-unit garden-style property offers a mix of 1 and 2-bedroom units in excellent condition, along with ample parking on 1.40 acres of land. Situated in University Place, a Tacoma suburb renowned for its highly rated public schools and the nationally-recognized Chambers Bay golf course, BaysWater is poised for success. With the LIHTC program set to expire in 2025, there is significant value-add potential, as current maximum allowable rents are below the area market rates. This property is located in an area of high rental demand, with 43% of housing units within a 3-mile radius being renter-occupied. Additionally, University Place has seen limited multifamily trades in recent years (since 2018), wi

Listing Details

Asset Class: Multi-Family
Year Built: 1976
Building Total Square Feet: 22500
Available Lease Space Square Feet:
Number of Floors: 3
Total Parking Spaces: 31
Local Zoning Information: MU-U75

Listing Courtesy of: Berkadia Real Estate Advisors

Disclaimer: The information contained in this listing has not been verified by Pacific Continental Realty, LLC and should be verified by the tenant or buyer.