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Listings/Arrowhead Park Apartments

Arrowhead Park Apartments

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On the Market

Price: $7,795,000

Proforma Cap Rate: 8.2%

Offers Date: Reviewed Upon Receipt

Tour Dates: Call Broker for Private Tour

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Site Details

Address
10701 109th Street SW Tacoma, WA 98498
Neighborhood
Lakewood
Total Units
42 Units
Avg. Unit Size
937 SF
NRSF
39,340 SF
Year Built
1968
No. of Buildings
4
Parking
32 Carports, 34 Uncovered Spaces
Laundry
Common
Land Size
138,870 SF

Opportunity

Arrowhead Park Apartments

Arrowhead Park Apartments is a prime 42-unit multifamily investment opportunity located in Lakewood, WA, a rapidly growing area near Tacoma. The property offers significant value-add potential through both interior and exterior renovations. Situated on 138,870 SF of land, the apartments are distributed across four buildings, with a total residential net rentable square footage of 39,340 SF.

The complex features a diverse unit mix, consisting of spacious one-, two-, and three-bedroom apartments, catering to a broad tenant base. The average unit size is 937 SF, and amenities include 32 carports and 34 uncovered parking spaces, as well as shared laundry facilities.

Strategically located near key retail centers and recreational areas like Lakewood Towne Center and Fort Steilacoom Park, Arrowhead Park Apartments benefits from strong tenant retention. Additionally, its proximity to major employers like Joint Base Lewis-McChord and the South Sound healthcare sector provides consistent rental demand. This combination of location, tenant diversity, and value-add potential positions Arrowhead Park Apartments as an attractive investment in a growing market.

Value-Add Potential

With opportunities for interior and exterior renovations, new ownership can increase rental income and enhance property value. Modernizing units and adding additional amenities can create upside potential for this already well positioned
asset.

Diverse Unit Mix with Spacious Layouts

The property features a well-balanced mix of one-, two-, and three-bedroom apartments, catering to a broad tenant base ranging from singles to families. This diversity supports stable occupancy rates while attracting a variety of income levels.

Proximity to Major Retail and Recreational Hubs

Arrowhead Park Apartments offers tenants immediate access to a wide variety of shopping, dining, and entertainment options, including the Lakewood Towne Center and nearby recreational areas like American Lake and Fort Steilacoom Park. This proximity to key lifestyle amenities drives tenant retention and demand.

Location

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on the market

Arrowhead Park Apartments

10701 109th Street SW,
Tacoma, WA 98498
Units: 42
Price: $7,795,000

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About the Area

Lakewood, WA is a vibrant and rapidly growing suburb located just south of Tacoma. Known for its scenic beauty and strong sense of community, Lakewood offers residents a mix of suburban tranquility and easy access to urban amenities. The area is popular for its picturesque lakes, parks, and green spaces, making it an ideal location for those who enjoy outdoor activities. With a diverse population of families, young professionals, and retirees, Lakewood fosters an inclusive atmosphere. Its strategic location near major employment centers and transportation hubs also makes it a desirable choice for both residents and investors.

 

Prime Location

Easy access to Tacoma, Seattle, and Joint Base Lewis-McChord, making it ideal for commuters.

Outdoor Recreation

Residents enjoy numerous parks, lakes, and green spaces, perfect for outdoor activities.

Affordable Living

Offers a lower cost of living compared to nearby Seattle, making it an appealing choice for families and professionals.

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Exclusive Listing Brokers

JD Fuller

Call/Text: 206.665.3272

Dylan Simon

Call/Text: 206.414.8575