219 125TH ST S
Tacoma WA 98444
Byrn-Mar Apts
219 125TH ST S Tacoma WA 98444
Listing #: 685404 | Status: Available | Last Modified: 8/15/2024 |
For Sale
- Phone:(206) 812-9117
- Email:cjeney@paragonrea.com
- Office Name:Paragon Real Estate Advisors
- Office Phone:(206) 623-8880
- Office Website:
- Agent Phone:(206) 812-9105
- Agent Email:nhemming@paragonrea.com
- Call Listing AgentNo
- Use DiscretionNo
- Listing Price$ 5,000,000.0
- $/SF$ 187.2
- $/Unit$ 5,000,000.0
- Listing StatusAvailable
- Days on Market46
- Asset ClassMulti-Family
- Terms
- Investment Type
- Investment PropYes
- Gross Income493,563
- Vacancy Factor %5.00%
- Operating Expenses208,039
- Net Operating Income260,845
- CAP Rate 5.71 %
- Min Total SF0
- Max Total SF0
- Lease Rate Low$ 00.0
- Lease Rate High$ 00.0
- Heat Source
- Total Units
- Water
- Electricity
- Storm Sewer
- SignageSignage on Building and Freestanding
- Anchor
- CAP Rate 5.71 %
- Building StatusExisting
- # of Buildings3
- # of Floors2
- # of Units36
- # of Elevators
- Clearance Height Min
- Clearance Height Max
- Bay Depth
- Total Building SF26712
- Net Rentable Area26712
- Total Office SF
- Largest Contiguous SF
- Lot SF82918
- Acres1.9
- Property TypeMulti-Family
- Office Type
- Building Class
- CountyPierce
- Vicinity
- Location Description
- Second Address
- Cross Street
- Market AreaParkland/Midland
- Tax ID #6762001800
- Additional Parcels
- ZoningTCTR
- Year Built1971
- Year Renovated
- Completion Date
- Roof Type
- Construction Type
Byrn Mar Apartments
36-unit garden-style community is offered to the market for the first time in over 30 years. Property features 22-1BD and 14-2BD units, and 51 parking spaces. The property spans four buildings, surrounding a shared courtyard with swimming pool an leasing office. Property has been maintained and operated by long-term ownership, preserving their classic charm while offering significant potential for repositioning. This property presents a value add opportunity for new ownership through modernization and improved operations. The units, which are larger than average for the submarket, can command higher rents with cosmetic upgrades. Additionally, the complex includes desirable amenities such as a pool, leasing office, and laundry facilities.
