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exclusively offered by berkadia seattle
48 Units on Nine Acres with Development Potential in Opportunity Zone
7415 & 7511-7523 146th St SW Lakewood, WA 98439
highlights
$7.3M
List Price
total units
48
market cap rate
6.48%
year built
1978
AVG Unit Size
618 SF
investment highlights
Strong Unit Mix: The property offers a strong mix of one- and two-bedroom units, averaging 618 square feet, which appeals to a wide range of potential renters.
Attractive Pricing Per Unit: Each unit is competitively priced at $152,083, with a cost of $246 per rentable square foot.
Opportunity Zone Development: The property consists of two parcels totaling nine acres, providing investors with the ability to expand development with either 14 townhomes or 66 apartment units and leverage Opportunity Zone tax benefits.
Value-Add Opportunity: The property is well-maintained, with light renovations completed during unit turns. This allows new ownership to continue renovations and capitalize on projected market and post-renovation cap rates of 6.48% and 6.97%, respectively.
Value-Add Opportunity with Tax Benefits in Prime Location
contact us to learn more
Mitchell Belcher
Managing Director 425.891.9594 mitchell.belcher@berkadia.com
Steven chattin
Managing Director 425.269.3826 steven.chattin@berkadia.com
jay timpani
Managing Director 206.999.3206 jay.timpani@berkadia.com
chad blenz
Senior Director 206.491.2008 chad.blenz@berkadia.com
brandon lawler
Senior Director 206.484.8114 brandon.lawler@berkadia.com
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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
Privacy
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overview
deal room
contact
listings
avg unit size
576 SF
Market cap rate
6.78%
year built
1925
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.
© 2025 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.
Primary contact
Chad Blenz
email
Call
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
Primary contact
Brandon Lawler
email
Call
Prime Location: Situated near Tacoma’s largest employers, retail, and recreational hot spots, the property offers quick access to I-5, connecting residents to downtown Tacoma and the Seattle metro area.
The most populated city in Pierce County, the average household income falls below the Seattle MSA average by nearly 25%; lower-rent properties tend to have higher occupancy rates than luxury properties with vacancy nearly non-existent in low-income complexes