Any investors in Tacoma Washington?

Multi-Family and Apartment Investing
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Any investors in Tacoma Washington?

Tony Houts
Residential Real Estate Broker · Seattle, WA · Member since 2016 · 14 posts · 4 votes
Hello all, this is my first post and I need some help. I'm looking at a few properties in Tacoma. A few duplexes in University Place and a fourplex near Swan Creek Park. Can anyone tell me more about those neighborhoods? The list price per unit is ideal but the actuals don't list any turnover or repairs (long term tenants) so I know I'll need to put money in when they end the lease. I'm concerned that the neighborhoods may not actually command the average county/city rents so I'm not confident in my proforma calcs. Thoughts? I can share some of the numbers if it helps but the seller hasn't been very detailed. Thanks! Tony
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Aaron NelsonBusiness Member
Real Estate Agent · Seattle, WA · Member since 2016 · 307 posts · 191 votes
9y

Hi Troy! Send me your numbers and I'd be happy to take a look. UP is one of the "nicer" areas in Tacoma and rents tend to be a little higher there than some other areas. 

[email protected]425-880-2580
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  • Aaron NelsonBusiness Member
    Real Estate Agent · Seattle, WA · Member since 2016 · 307 posts · 191 votes
    9y

    Hi Troy! Send me your numbers and I'd be happy to take a look. UP is one of the "nicer" areas in Tacoma and rents tend to be a little higher there than some other areas. 

    [email protected]425-880-2580
    White Coat Realty535 Reviews
    WebsiteView Page
    1Reply
  • Abram Howard
    Olympia, WA · Member since 2016 · 45 posts · 8 votes
    9y

    @Tony Houts,

    So I know a bit about those neighborhoods personally. Uni P is a much nicer and growing area around Tacoma. There are many military residents, specifically officers, that live and rent there. There are also many Tacoma workers that commute from there. Since I have lived in WA I know many communities have been built and are planning to be built.

    Sadly I do not know much about Swan Creek Park as that is the opposite side and I didn't spend any time there.

    I have friends that still live in Uni P though and they seem to think it is on a rapid growth spurt.

    I would also try contacting other landlords in the area and ask them not turnover is.

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  • Annie G.
    Tacoma, WA · Member since 2017 · 23 posts · 18 votes
    9y

    The areas are very different in look and feel. 

    University Place is a growing white collar neighborhood with a desirable school district. There has been quite a bit of development and the area has a wide variety of amenities, including a Trader Joe's, Whole Foods, Harbor Greens, etc. 

    The Swan Creek area (East Side) is a blue collar neighborhood with high crime rates and low ranked school systems. I often mountain bike at Swan Creek and have seen several car windows smashed in around the park. It is a food dessert, albeit for the East Side Farmers Market, which has the backing of the City of Tacoma. East Side EnAct has helped put up tons of new town homes in the past few years.

    A basic google search for neighbor data & statistics will give you an over view of differences- i.e. median income and crime rates.

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