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Multifamily

Rainier View Court Townhomes

17825 22nd Ave E, Tacoma, WA 98445

Listing Price: $5,095,000

Cap Rate
5.63%
Number of Units
12
GRM
11.97
Price/Unit
$424,583

Investment Overview

Rainier View Court presents an exceptional investment opportunity with both operational stability and future flexibility. The property is currently operated as rental apartments and benefits from strong demand for large-format, townhome-style housing in a growing Pierce County submarket. Its newer construction and durable building materials minimize ongoing capital expenditure requirements, while the high-quality finishes and garage parking support sustained rental performance. Additionally, the property is already prepared for condominium conversion, providing a secondary exit strategy through individual unit sales when market conditions warrant. This combination of modern construction, premium unit mix, and optionality positions Rainier View Court Townhomes as a compelling long-term investment for both income-focused and value-oriented buyers.

Investment Highlights

  • Built in 2021 with modern finishes, providing a stabilized asset with low maintenance needs and long-term appreciation potential.
  • Large townhome-style units with high-end finishes and garage parking drive strong tenant demand and support premium rental positioning in the Frederickson submarket.
  • Mix of 2- and 3-story townhomes with condo-ready setup allows continued rental income today and a future exit through individual unit sales.

Exclusively Listed By

Multifamily

Rainier View Court Townhomes

Listing Price: $5,095,000

Cap Rate
5.63%
Number of Units
12
GRM
11.97
Price/Unit
$424,583

Investment Highlights

  • Built in 2021 with modern finishes, providing a stabilized asset with low maintenance needs and long-term appreciation potential.
  • Large townhome-style units with high-end finishes and garage parking drive strong tenant demand and support premium rental positioning in the Frederickson submarket.
  • Mix of 2- and 3-story townhomes with condo-ready setup allows continued rental income today and a future exit through individual unit sales.

Investment Overview

Rainier View Court presents an exceptional investment opportunity with both operational stability and future flexibility. The property is currently operated as rental apartments and benefits from strong demand for large-format, townhome-style housing in a growing Pierce County submarket. Its newer construction and durable building materials minimize ongoing capital expenditure requirements, while the high-quality finishes and garage parking support sustained rental performance. Additionally, the property is already prepared for condominium conversion, providing a secondary exit strategy through individual unit sales when market conditions warrant. This combination of modern construction, premium unit mix, and optionality positions Rainier View Court Townhomes as a compelling long-term investment for both income-focused and value-oriented buyers.

Exclusively Listed By

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