Home Finance Pacific Pointe Apartments in Tacoma Sell for $8.9MM to The Neiders Company

Pacific Pointe Apartments in Tacoma Sell for $8.9MM to The Neiders Company

SHARE

Seattle-based The Neiders Company paid a total of $8.9 million to California-based Tamaro Holdings LLC for Pacific Pointe Apartments in Tacoma, located at 1801 S 84th St. Louis Voorhees of Westlake Associates represented the buyer/seller of this transaction.

The 2-story, 106-unit apartments were built in 1968 and underwent a renovation in January of 2005. The apartments range from one-bedroom to three-bedrooms with square footage ranging anywhere from 725 square feet to 945 square feet. There’s also a pool and playground on site.

Public records show the apartment complex was purchased by Tamaro Holdings LLC in May 2015 for $6.84 million. The group purchased the property from Lake Oswego, OR-based Transpacific Investments LLC. A 2013 Kidder Mathews report states the property sits on 4.26 acres and the complex is approximately 81,620 square feet. At the time the offering, documents stated the value of the complex was $7.35 million and had added value from the addition of washers and dryers in unit.

The complex is just a short drive to nearby parks including Wards Lake Park, Seeley Lake Park and Chambers Creek REgional Park. It’s also in close proximity to local colleges Pacific Lutheran University, Pierce College Fort Steilacoom and Tacoma Community College. Three military bases are also under a fifteen minute drive away.

The apartments went through some trouble though in January 2016. Q13 Fox reported that on January 18th, a fire broke out in one of the units at Pacific Pointe Apartments that killed one and sent another to the hospital.