The Warner Street Townhomes are located in the growing and high demand South Tacoma market. Tacoma has seen significant tenant demand, being an absorption leader in Washington state over the last several years. Originally constructed in 2006, Warner Street Townhomes boasts a desirable year-of-construction from both an investor and tenant perspective. The property has been carefully maintained and updated to ensure that it is a desirable community for tenants and a low-maintenance asset for ownership. The property is located 1 mile from Costco, 1.1 miles from Grocery Outlet, and 0.8 miles from the Tacoma Mall which consists of a plethora of dining and shopping options. Comprised of 2 1300SF three-bedroom two-bathrooms, and 12 1300SF three-bedroom two-and-a-half bathrooms, the property offers large living spaces for families and young couples who are currently out of reach of home ownership.

Tacoma continues to be one of the more desirable rental markets from a tenant’s perspective, despite the legislation making it more difficult for landlords to operate. Tacoma has had over 1,200 units absorbed on a trailing 12-month basis, which only trails Downtown Seattle and Central Seattle. Tacoma consists of a wide variety of blue-collar and service-based employers along with close proximity to Joint Base Lewis-McChord, which supports over 50,000+ jobs.

Warner Street Townhomes has been meticulously maintained to provide high quality housing for families and young couples who are still aways away from home ownership. The interior of the units offers spacious layouts, an attached parking garage, and a value-add opportunity for investors through a light renovation package. Additionally, strong in-place rents should allow for a future investor to reach pro forma rents rather quickly.