Investment Overview

Birds Mill Apartments offers investors the opportunity to acquire a newly constructed multifamily asset delivering strong in-place cash flow with limited near-term capital requirements. With an attractive three-year, fixed-rate, fully interest-only financing, the investment provides a 6%+ cash-on-cash return at acquisition. Completed in 2025, Birds Mill presents a compelling alternative to older vintage multifamily properties by minimizing deferred maintenance exposure and future capital expenditure risk. The property’s modern construction, thoughtfully designed floor plans, and durable interior finishes position the asset for long-term operational efficiency while appealing to today’s renter preferences. The community’s differentiated unit mix of one-bedroom flats and spacious two-bedroom townhome-style residences broadens tenant appeal, while modern features including stainless steel appliances, quartz countertops, luxury vinyl plank flooring, in-unit laundry, and energy-efficient systems support competitive positioning within the rental market. Additionally, Birds Mill benefits from its location outside the jurisdiction of Tacoma’s Measure 1 / Landlord Fairness Code, providing investors with greater operational flexibility. Combining immediate yield, modern construction, and low-maintenance ownership characteristics, Birds Mill Apartments represents a compelling multifamily investment opportunity within the South Sound market.