Home Finance Tacoma Townhome Community Trades Hands for $22.18MM

Tacoma Townhome Community Trades Hands for $22.18MM

MPH Narrows Creek LLC, Tacoma, Narrows Creek Townhomes, CEP, Glencrest Group
Courtesy of Narrows Creek Townhomes

By Meghan Hall

A pair of local investors has struck a deal for a townhome community in the growing town of Tacoma. According to public records, the Narrows Creek Townhomes community sold for $22,184,800, or about $291,905 per unit, in a deal that closed on April 29th. The seller of the property was an entity affiliated with Barbara D. Bogue, of Tacoma. The buyer is another local limited liability company known as MPH Narrows Creek LLC. 

The asset is located at 1101 N. Mountain View Ave., and it was originally constructed in 1991. In all, the property totals 76, 1,500 square-foot units. Residences are equipped with garages, fireplaces, whirlpool appliances and private decks or patios. Community amenities include tennis courts and access to local nature trails.

“Located in one of Tacoma’s finest neighborhoods, Narrows Creek Townhomes striking residences will radiate your sense of good taste and fill you with a tranquil, peaceful living environment unmatched anywhere in Tacoma,” the community’s website states.

Units rent for between $1,999 to $2,199 per month. The community sits adjacent to the Tacoma Narrows Bridge, just off of State Route 16. Local shopping centers, as well as Tacoma Community College, are also not far away.

A number of multifamily communities have traded across the Puget Sound this week. To the north, a 36-unit Shoreline asset sold for $8.9 million, while in Burlington, Wash., CEP Multifamily spent $32.5 million to purchase the Four Pines Apartments. Also this week, San Francisco-based Glencrest Group paid $17 million, or about $303,571 per unit, to purchase the Lake Meridian Shores community in Kent, Wash.