Edgewood Court includes 20 two-bedroom/one-bath units, all 725 square feet. The consistent floor plan appeals to roommates, small families, and military-connected households looking for added space and flexibility.

Unit upgrades from 2018 included renovated kitchens with granite countertops, beautiful wide-plank wood-style flooring, fully renovated bathrooms, energy-efficient windows, and in-unit washers and dryers in all units.

Recent lease trade-outs have achieved rent premiums of up to 6.4%, demonstrating continued pricing momentum. Further renovation of units provides a path to further rent growth and an estimated 21% increase in net operating income.

Current occupied rents average $1,587 per month, compared with underwritten market rents of $1,700 and a renovated rent potential of $1,850. New ownership can continue interior upgrades and capture the remaining upside.

The property’s single-story, courtyard-style design offers a more private, residential setting than larger apartment communities.

Edgewood Court is located next to Joint Base Lewis-McChord (JBLM), the VA Puget Sound Health Care System, and Tacoma-area employment centers. The property offers quick access to I-5, connecting residents to Tacoma, Seattle, and the broader Puget Sound employment base.

Edgewood Court offers convenient access to Lakewood Station, South Tacoma Station, four nearby colleges and universities, three shopping centers, and five parks within the five or so miles surrounding the property.