Tacoma has seen no shortage of multifamily deals over the past couple of months. In one such sale that was recorded on Aug. 3, a 111-unit apartment building in Tacoma was purchased by an entity affiliated with Tacoma Apts. LLC for $46.2 million, or about $416,216 per unit. Property records show that the property was sold by an entity that shares an address with Tacoma-based Affinity Real Estate Management.
Located at 3118 6th Avenue, the property – also referred to as Sixth & Alder Apartments – offers a mix of studio, one- and two-bedroom units, which range in size from 430 square feet to 1,130 square feet. Rental rates at the six-story apartment building also range in price from $1,300 to $2,610 per month.
The property also offers a number of amenities including a rooftop deck, with a putt-putt golf course, a barbecue area, lounge seating and fire pits. Other amenities include a dog washing station, storage areas, electric vehicle charging stations and more.
The apartment complex is located in Central Tacoma, near a number of restaurants and shopping options as well. The area is highly walkable and is also within close proximity to the University of Puget Sound. The property also offers a short commute to downtown Seattle, with Interstate 5 just a short drive away.
This building is one of many multifamily assets to sell in Tacoma in recent months. In June, for instance, Goodman Real Estate sold its 100-unit Coventry Court IV Apartments for $21.15 million, or about $211,500 per unit. The property is located at 908 76th Street Court East.
In another recent sale, Terra Heights, a 252-unit apartment building located at 2325 S. 96th Street, sold for $54 million, or about $198,529 per unit. The building was sold by Security Properties to Wilshire Unlimited LLC, according to previous reporting from The Registry.