Addison St Apartments Development
Land | 0.47 acres
Marketing description
The Addison Street Apartments Redevelopment Opportunity presents investors and developers with a rare chance to acquire a high-density multifamily site in Lakewood, Washington, approximately one mile from JBLM. The property includes extensive completed due diligence materials including civil engineering, topographic survey, geotechnical analysis, landscape architecture, mechanical and electrical design, and municipal review work.
The completed design and engineering package supports an approximately 25-unit multifamily redevelopment concept featuring studio and one-bedroom units, community space, parking, and open space amenities.
Lakewood continues to experience strong rental demand driven by JBLM, Tacoma employment growth, regional housing shortages, and continued population growth throughout Pierce County.
DO NOT DISTURB TENANTS - Call friendly LA for grounds tour.
Investment highlights
- MF-3 Zoning
- Approximately 54 units per acre permitted density
- Existing tenant occupancy providing interim income
- Topographic Survey, Civil Engineering, Geotechnical, Landscape, HVAC and Electrical Plans
- Potential Multifamily Tax Exemption (buyer to verify)
- Approximately one mile from JBLM
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