Heather Court is a well-maintained, value-add investment opportunity offering strong growth potential and reliable returns. This 32-unit property, built in 1971 and renovated in 2017, blends modern upgrades with classic charm, featuring spacious one- and two-bedroom apartments averaging 675 SF. Recent improvements, including a new roof, updated exterior, and interior enhancements like hardwood floors and refreshed cabinetry, attract high-quality tenants and support rental income growth. With light upgrades, rents can be increased by 6.5%, achieving a projected 6.1% cap rate. Ideally located in Parkland, near major employers like Joint Base Lew-McChord, Boeing, and UW Tacoma, Heather Court benefits from strong rental demand.
MLS# | 2335254 |
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Listing Type | For Sale |
Style | Town House |
Sub-Type | Resale |
Status | Active |
Year | 1971 |
Days On Site | 66 |
Listing Provided By | COMPASS | Coleton Pantley |
SQ Feet | 21,600 |
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Story(s) | 2 |
Units | 1 |
Acreage | 0.48 |
State | WA |
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County | Pierce |
City | Tacoma |
Zip Code | 98444 |
Area | 69 Parkland |
Community Name | Parkland |
School District | Franklin Pierce |
Listing VS Median (in Parkland) | |
Price: $5,800,000 low | high Med: $449,900 SqFt: 21,600 low | high Med: 1,348 $ / SqFt: $269 low | high Med: $334 On site: 66 low | high Med: 16.000000 |