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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
offices in bellevue & seattle
bellevue
411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220
seattle
601 Union Street
Suite 3909
Seattle, WA 98101
206.521.7220
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brandon lawler
Senior Director 206.484.8114 brandon.lawler@berkadia.com
Senior Director 206.484.8114 brandon.lawler@berkadia.com
chad blenz
Senior Director 206.491.2008 chad.blenz@berkadia.com
Senior Director 206.491.2008 chad.blenz@berkadia.com
jay timpani
Managing Director 206.999.3206 jay.timpani@berkadia.com
Managing Director 206.999.3206 jay.timpani@berkadia.com
Steven chattin
Managing Director 425.269.3826 steven.chattin@berkadia.com
Managing Director 425.269.3826 steven.chattin@berkadia.com
Mitchell Belcher
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Investment Advisors
Michael Manolides
Senior Director 253.670.2143 michael.manolides@berkadia.com
Associate Director 253.670.2143 michael.manolides@berkadia.com
Robert Doxsee
Managing Director 425.777.0235 robert.doxsee@berkadia.com
Managing Director 425.777.0235 robert.doxsee@berkadia.com
Mortgage Banking
contact us to learn more
brandon lawler
Senior Director 206.484.8114 brandon.lawler@berkadia.com
Senior Director 206.484.8114 brandon.lawler@berkadia.com
chad blenz
Senior Director 206.491.2008 chad.blenz@berkadia.com
Senior Director 206.491.2008 chad.blenz@berkadia.com
jay timpani
Managing Director 206.999.3206 jay.timpani@berkadia.com
Managing Director 206.999.3206 jay.timpani@berkadia.com
Steven chattin
Managing Director 425.269.3826 steven.chattin@berkadia.com
Managing Director 425.269.3826 steven.chattin@berkadia.com
Mitchell Belcher
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
year built/Renovated
1968/1992
NRSF
15,950
Market Cap Rate
6.13%
total units
23
List Price
$4.4M
investment highlights
exclusively offered by berkadia seattle
23-Unit Value-Add Opportunity with Upside in Puyallup
344 7th St SE Puyallup, WA 98372
highlights
overview
overview
deal room
deal room
contact
contact
listings
listings
OVERVIEW
DEAL ROOM
LOCATION
LISTINGS
Terms of Use
Privacy
CONTACT
Primary contact
Jay Timpani
email
Call
acres
1.29
Well-Maintained Asset with Strong Unit Mix in Thinly Traded Market
Renovation Upside Over half the units are partially renovated, however the location in the Puyallup submarket warrants a higher level of renovation scope for the next owner.
Prime Location
Esquire offers direct access to Seattle’s largest employment hubs while avoiding Tacoma’s restrictive landlord-tenant regulations.
Attractive Pricing Priced competitively at $191,304 per unit.
Proximity to Major Employers
Located within 30 minutes from the Joint Base Lewis-McChord, Downtown Tacoma, and the Boeing Fabrication Division.
Value-Add Opportunity
Implementing minimal operational changes and bringing all units to market rent provides the potential for higher returns, projected north of a 6.3% cap rate.
NRSF
9,052
