Victorian Manor Apts.
Value-Add Turnkey 12-Unit Investment in Tacoma’s Growth Core
Marketing description
Victorian Manor is a fully renovated, value-add multifamily asset ideally positioned in Tacoma’s rapidly expanding urban core—just two blocks from the brand-new T-Line Light Rail and minutes from downtown. This 12-unit property blends classic mid-century architecture with modern upgrades, offering investors reliable cash flow, built-in upside, and strong tenant appeal in one of Washington’s most dynamic submarkets.
Secure your position in Tacoma’s next wave of urban growth—Victorian Manor delivers stability, scalability, and location-driven value that investors seek.
Investment highlights
Victorian Manor is a rare turnkey opportunity priced at $133,250 per door in a walkable, transit-connected neighborhood poised for appreciation. With Tacoma’s steady rent growth, healthcare expansion, and regional infrastructure investments—including a $142B Light Rail expansion—this property offers both immediate yield and long-term upside.
- Prime Central Tacoma Location: Walk Score of 87; steps to 6th Avenue Station, Wright Park, restaurants, and entertainment.
- Transit-Oriented Growth Zone: Situated within an Opportunity Zone surrounded by major developments, including the $415M Mary Bridge Children’s Hospital and Tacoma Town Center mixed-use project.
- Comprehensive Renovation: To-the-studs rebuild with new plumbing, electrical, dual-pane windows, sprinkler system, hot water tanks, and modern unit finishes.
- High Tenant Demand: Updated kitchens and baths, tall ceilings, and off-street parking for six cars ensure lasting occupancy and minimal turnover.
- Proximity to Major Employers: Walking distance to MultiCare Health System, St. Joseph Medical Center, and UW Tacoma—key drivers of stable rental demand.
- Strong Financials:
- Current NOI: $97,138 | Market NOI: $122,990
- Current Cap Rate: 6.08% | Market Cap Rate: 7.69%
- Potential 10%+ income growth via utility bill-back and modest rent adjustments.
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