Listed by Bruce Barker, Kidder Mathews
$6,250,000
Hallie Court
Details
APN 2890001980, 2890001970
Property Type Multifamily
Sub Type Apartment Building
Square Footage 21,425
Units 24
Cap Rate 6.00%
Price per SqFt $292
Year Built 2024
Acreage 0.380
Multifamily | 24 Units | $260,417/unit
Marketing description
Hallie Court Apartments is a newly constructed 24-unit multifamily
community located on Junett Street in South Tacoma, Washington.
Completed in 2024, the property features a low-rise building situated
on a 0.39-acre site, offering a mix of modern one- and two-bedroom
units ranging in size from approximately 681 to 845 square feet. The
building is thoughtfully designed with upscale interior finishes, including
granite countertops, stainless steel appliances, vinyl plank flooring, and
in-unit washers and dryers. Each apartment also features open-concept
layouts, ample natural light, and patios or balconies, enhancing the living
experience for residents.
The development includes controlled access for added security and also
pet-friendly, allowing both cats and dogs (with weight limits and pet fees),
making it an appealing option for renters with small pets. Monthly rents
are competitive for the South Tacoma market, with one-bedroom units
starting around $1,495 and two-bedroom units ranging up to $1,795.
Additional monthly charges apply for utilities, parking, and pet rent.
Strategically located near I-5, the property provides easy access to
regional employment hubs, including downtown Tacoma and Joint Base
Lewis-McChord. The neighborhood is walkable and bikeable, with nearby
parks, schools, shopping centers, and restaurants including Tacoma Mall, Costco, The Cheesecake Factory, and Bluebeard Coffee. Public transit options
are also readily available, enhancing the property’s appeal to commuters and
car-free households.
Hallie Court’s modern finishes and boutique scale help it stand out in the South
Tacoma submarket. These differentiators, along with responsive management
and well-maintained grounds, position the property as an attractive choice for
young professionals, small families, and downsizing renters.
In summary, Hallie Court Apartments offers a high-quality residential experience
in an emerging area of Tacoma. With contemporary design, thoughtful amenities,
and strong proximity to transportation and lifestyle conveniences, the property
is well positioned to attract and retain tenants seeking comfort, convenience,
and value in a professionally managed setting.
Investment highlights
- BONUS DEPRECIATION The property has 88.7 improvement to 11.3% land ratio
- allowing for greater percentage of depreciation.
- 12-YEAR TAX EXEMPTION This property has a 12-year tax exemption that allow for greater cash-on-cash opportunity for investors.
- LOCATION Situated in a high-demand rental submarket and fast lease up period near Tacoma, Joint Base Lewis-McChord, and I-5 access to Seattle. Walking distance to public transportation, major employers, and positioned with great street frontage along Junett St.
Listing Contacts
Listed by Bruce Barker, Kidder Mathews
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