Timberwood offers a strong mix of spacious 1-, 2- and 3-bedroom floor plans averaging 937 square feet, appealing to families, roommates, and renters seeking more space at a relative discount to single-family housing options.

Current blended in-place rents provide approximately 2.8% upside to market, with additional upside of more than 10% through continued execution of the existing renovation program, while asking rents in the submarket have increased 24.83% since 2021.

Current ownership has invested approximately $700,000 in capital improvements, including full renovations to nine units and significant renovations to an additional eight units, landscaping, plumbing and electrical breaker and panel upgrades, $132,000 in roof repair and replacement, low-maintenance carports, and parking lot improvements.

Recent lease trade-outs have achieved rent premiums of up to 6%, demonstrating near-term pricing momentum and supporting the opportunity to increase net operating income by approximately 36% through renovation of the remaining classic units.

Timberwood is located near Tacoma’s major employers, retail destinations, and recreational amenities, with convenient access to I-5, the Seattle metro area, and the Port of Tacoma, which supports approximately 41,000 jobs and $10.8 billion in total business output.

Timberwood benefits from proximity to a diverse employment base anchored by Joint Base Lewis-McChord, the South Sound healthcare sector, and Tacoma’s broader economic corridor.