Investment Overview

Built in 1968, Vista Rainier is a fifty-unit community located in the Hilltop neighborhood of Tacoma. Stone’s throw from the I-5, and just one mile from the Hilltop Light Rail Station make Vista Rainier a perfectly situated property in a location driven by stable economic drivers and transportation for commuters. From a tenant’s perspective, spacious one- and two- bedroom units combined with ample on-site parking make Vista Rainier an excellent place to call home. Vista Rainier consists of forty two-bedroom, one-bathroom units averaging ?848 square feet, and four one-bedroom, one-bathroom units averaging ?750 square feet, five studios averaging ?430 square feet, and one three-bedroom, one-bathroom unit of approximately 1,000 square feet. Each unit features a kitchen and living room separate from the large kitchen. At a purchase price of $8,250,000, Vista Rainier offers great value to a buyer at $165,000 per unit, $206 per foot, with ability for significant rental upside. An incoming investor to undergo renovations to increase rents and easily achieve a 7% annual return.