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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
INVESTMENT ADVISORS
Primary Contact:
Chad Blenz
Managing Director
206.999.3206
jay.timpani@berkadia.com
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vintage trophy asset with upside
Address
City, State, Zip
Price
Units
Year Built
Total Size
Parcel No.
Zoning
215 S G Street
Tacoma, WA 98405
$5,850,000
28
1907
22,434 NRSF
200213-0020
R5, Tacoma
market summary
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
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.
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
contact
Phone: 206.521.7220
Fax: 206.521.7222
Privacy | Terms of Use
The Opportunity
/ Wood frame with brick veneer trophy asset in downtown Tacoma overlooking 27-acre Wright Park Arboretum; bull’s eye location near transit, major employers, and amenities
/ Fully upgraded common areas and 6 partially lifted units; units currently average $91 below market rate with additional premiums up to $250 achievable post renovation
/ Units feature hardwood floors, gas ranges, high ceilings and ample light; select units feature wood-burning fireplaces and original built-in shelving
/ Community amenities include on-site laundry, controlled access, rentable storage spaces, and beautifully landscaped grounds
/ Historically high occupancy: Tacoma’s median household income is roughly 35% below the metro median, leading to a higher share of rental households
/ Strong rental market: 70.6% households within a
1-mile radius are renter-occupied
/ Demand projected to continue through 2024: net absorption projected to outpace rate of new deliveries due to job seekers relocating to the area; net in-migration of 11,900 new residents is forecast
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vintage trophy asset
with upside
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
/ Stadium District Light Rail stop within a 5-minute walk; 7-minute walk to nearest bus stop with 3 metro routes offered; Highway 705 accessible within a 3-minute drive
/ Strong, diverse economy: anchored by the trade, transportation, and utilities sector, supporting 73,300 jobs in December 2023
Chad Blenz
Senior Director
206.491.3826
chad.blenz@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
Our team
Back to Top
View Listings
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.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
/ Higher education drives housing: Tacoma ranked among the top college towns in the US; University of Washington Tacoma only has an on-campus housing capacity of 5%
215 S G Street
Tacoma, WA 98405
Units
28
built
1907
total size
22,434 NRSF
Parcel
200213-0020
price
$5.85M
Jay Timpani | Managing Director
206.999.3206
jay.timpani@berkadia.com
206.999.3206
jay.timpani@berkadia.com
Location Map
Our Team
Document Center
The Opportunity
Location Map
Our Team
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View Opportunity
/ Wood frame with brick veneer trophy asset in downtown Tacoma overlooking 27-acre Wright Park Arboretum; bull’s eye location near transit, major employers, and amenities
/ Fully upgraded common areas and 6 partially lifted units; units currently average $91 below market rate with additional premiums up to $250 achievable post renovation
/ Units feature hardwood floors, gas ranges, high ceilings and ample light; select units feature wood-burning fireplaces and original built-in shelving
/ Higher education drives housing: Tacoma ranked among the top college towns in the US; University of Washington Tacoma only has an on-campus housing capacity of 5%
/ Numerous employers within walking distance: MultiCare Tacoma, Evergreen State, University of Washington Tacoma, Pierce County Government
/ Stadium District Light Rail stop within a 5-minute walk; 7-minute walk to nearest bus stop with 3 metro routes offered; Highway 705 accessible within a 3-minute drive
/ Community amenities include on-site laundry, controlled access, rentable storage spaces, and beautifully landscaped grounds
/ Strong, diverse economy: anchored by the trade, transportation, and utilities sector, supporting 73,300 jobs in December 2023
Zoning
R5, Tacoma
/ Numerous employers within walking distance: MultiCare Tacoma, Evergreen State, University of Washington Tacoma, Pierce County Government
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