Listed by Kidder Mathews Tacoma
Unpriced
Littlerock Development
Details
APN 1270-32-11600
Property Type Multifamily
Sub Type Apartment Building
Square Footage 98,543
Units 114
Year Built 1965
Buildings 4
Stories 4
Acreage 6.460
Zoning GC - General Commercial
Parking Spaces 200 spaces
Parking Per SqFt 2.03
Multifamily | 114 Units
Marketing description
Kidder Mathews is pleased to present an exceptional opportunity
to acquire an entitled, SEPA-approved multifamily development site
located in the growing community of Tumwater, Washington. This
prime 6.46 acre parcel is approved for 114 residential units, offering
a the potential for a shovel-ready project ready to break ground in
2026. Strategically positioned near I-5, the site provides convenient
access to major employment centers, local amenities, and downtown
Olympia. Tumwater’s pro-development stance, population growth,
and expanding rental demand make this a highly attractive investment
in the South Puget Sound region. Thoughtfully designed, the project
contains four residential structures, clubhouse / leasing office, ample
surface parking and is positioned across the street from the brand-new
Kingswood retail development.
Investment highlights
- Entitlements This Development Site Is Entitled and SEPA-Approved for 114 Multifamily Units, Offering a Rare Shovel-Ready Opportunity in A Supply-Constrained Market. the Project Has Completed Environmental Review Under the State Environmental Policy Act (SEPA), Significantly Reducing Pre-Construction Timelines and Associated Risk. All Planning Approvals Are in Place, Allowing a Buyer to Move Quickly Toward Permitting and Vertical Construction.
- Location Located in The Growing City of Tumwater, Washington, the Site Benefits from Excellent Access to Interstate 5 and Is Just Minutes from Downtown Olympia, the Washington State Capitol, and Major Employment Hubs. the Surrounding Area Features a Strong Tenant Base Supported by Public Sector Employment, Healthcare, and Higher Education. Tumwater’s Business-Friendly Climate and Ongoing Infrastructure Investments Make It a Strategic Location for Long-Term Multifamily Development.
- Type of Construction the Approved Development Is Designed for Garden-Style, Three-Story Wood-Frame Construction, Which Allows for Cost-Effective and Efficient Building While Delivering Marketable Unit Layouts. the Low-Rise Design Is Well-Suited to The Surrounding Residential Neighborhood and Aligns with Market Preferences for Surface-Parked, Walk-Up Apartments. This Construction Type Also Offers Reduced Construction Timelines and Strong Rent-To-Cost Ratios.
Listing Contacts
Listed by Kidder Mathews Tacoma
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