Listed by Kidder Mathews Tacoma
$3,400,000
Pacific Manor
Details
APN 7850000630 / 7850000650
Property Type Multifamily
Sub Type Apartment Building
Units 21
Cap Rate 6.00%
NOI $215,942
Year Built 1973
Year Renovated 2025
Acreage 0.790
Investment Type Value Add
Multifamily | 21 Units | $171,428/unit
Marketing description
Built in 1973 and offered for sale to investors for the first time ever, Pacific Manor is an excellent opportunity for investors seeking a well-maintained 21-unit multifamily property with immediate upside potential. Located in a high-demand area just steps from major public transit lines, this asset offers a strong tenant base and room for value creation through light renovations or rent adjustments. Pacific Manor consists of 13 2-bedroom units and 8 1-bedroom units, ample surface parking and well-maintained property grounds. One of the three buildings has been completely renovated from ground up due to a recent fire. The new structure contains brand new property systems and modern interior finishes – a rare fine in today’s market.
Pacific Manor is well suited for buyer seeking stable income with immediate NOI growth opportunities. Priced below replacement costs, Pacific Manor offers both current cash flow and future appreciation in a supply constrained submarket.
We invite you to review the offering memorandum for Pacific Manor. Please contact Austin Kelley or Ted Sipila to schedule a tour.
Investment highlights
- Value-add Potential: Below-market rents with significant upside through interior renovations and modernization. 16 of the 21-unit are in original finishes, Opportunity to implement RUBS (Ratio Utility Billing System) to market recapture
- Location: Situated in a high-demand rental submarket with low vacancy rates. Walking distance to public transportation, major employers, and positioned with great street frontage along Pacific Ave.
- Light to Moderate Renovation Scope: Majority of units in classic condition—ideal for strategic upgrades (flooring, cabinets, appliances). Deferred maintenance limited; roof, plumbing, or electrical have been updated in various buildings. CapEx plan can be phased for reduced capital outlay upfront.
Listing Contacts
Listed by Kidder Mathews Tacoma
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$215,942.00
$17,995.17/mo
Valuation Metrics
0
DSCR
6.35%
Cap Rate
6.35%
ROI
Map
Zoning
RCX MixedMixed UseResidential Commercial Mixed Use
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View all 99 uses Last updated May 26, 2026 For deeper zoning details, reports are available at Zoneomics
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