Viewcrest Terrace Apartments
601 S Jackson Ave, Tacoma, WA 98465
Marketing description
Kidder Mathews is pleased to present the exclusive listing for Viewcrest Terrace Apartments, a 12-unit multifamily community ideally situated at 601 S Jackson Avenue in Tacoma, Washington.
Built in 1959 and representing the quintessential Tacoma brick construction, Viewcrest Terrace Apartments is a meticulously maintained asset that has stood the test of time - both in physical condition and locational relevance. The property sits on the corner of Tacoma's prominent 6th Avenue corridor and S Jackson Avenue, offering residents sweeping views of Puget Sound and the Narrows Bridge from one of the most coveted residential locations in the city.
Despite its premier positioning, the property presents a compelling light value-add opportunity with approximately $4,000 per month in unrealized rental upside between current in-place rents and market rates. A targeted interior modernization program focused on updated finishes, fixtures, and unit upgrades provides a clear and executable path to capturing meaningful rent premiums — without the need for significant structural or exterior capital investment. The building's exceptional physical condition allows a new owner to focus exclusively on value creation rather than deferred maintenance.
Viewcrest Terrace Apartments benefits from a generational location that simply cannot be replicated. Its position along 6th Avenue - one of Tacoma's most vibrant retail and dining corridors - combined with its irreplaceable views and proximity to major employment centers, transit, and amenities, supports a high-quality, long-term renter profile. Assets of this caliber, in locations of this quality, rarely come to market.
For the investor seeking a long-term hold with a Class A location, a durable brick building, and clear upside through a thoughtful modernization program, Viewcrest Terrace Apartments represents a truly rare opportunity in the Tacoma multifamily market.
Investment highlights
- Prime Tacoma Location
- The View Crest Terrace Apartments are ideally situated overlooking the Puget Sound and the Narrows Bridge - offering residents a distinctive living experience that is difficult to replicate
- The surrounding neighborhood provides immediate walkability to a vibrant mix of locally owned restaurants, coffee shops, and retail, while outdoor recreation is abundant with Titlow Beach, War Memorial Park, and the Narrows Bridge Trail all within minutes of the property.
- Significant Value-Add Upside
- Current in-place rents of $17,114 per month trail estimated market rents of $21,270 per month - representing approximately $4,156 in monthly under-rented income and a 24% rental upside opportunity for an incoming investor
- New ownership can seamlessly continue the in-place renovation program with the addition of in-unit washer and dryer and modernizing the interior finishes
- Excellent Transit Access And Street Frontage
- Located along the 6th Avenue corridor, the property benefits from direct access Hwy 16, multiple nearby bus routes as well as easy access to interstate 5
- Viewcrest Terrace is located on the corner of 6th and Jackson, providing both access to existing renters to transit as well as excellent street frontage to advertise vacancies
- Classic Brick Construction
- Built in 1955, The Viewcrest Terrace Apartments feature classic brick construction synonymous with Tacoma's most enduring multifamily stock
- The building's timeless exterior, combined with its updated interiors, positions the asset as a standout offering within the submarket and provides new ownership with a durable, low-maintenance structure as the foundation for their investment
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
