Home Finance Affinity Real Estate Sells 111-Unit Apartment Building in Tacoma for $46.2MM 

Affinity Real Estate Sells 111-Unit Apartment Building in Tacoma for $46.2MM 

Tacoma, Tacoma Apts LLC, Affinity Real Estate Management, Sixth & Alder Apartments, Goodman Real Estate, Terra Heights

By Catherine Sweeney

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.