on the market

Listings/Boulder Park

Boulder Park

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On the Market

Price: $18,000,000

Offer Review Date: To be Announced

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Site Details

ADDRESS

7523 44th St W University Place, WA 98466

TOTAL UNITS

107

AVG UNIT SIZE

847 SF

NRSF

90,680 SF

YEAR BUILT

1974

STORIES

LAND SIZE

4.83 AC

PARCEL NO.

0220153203

Unit Mix

1x1

60 (Avg. 735 SF)

2x1

24 (Avg. 920 SF)

2x1.5 TH

14 (Avg. 1,027 SF)

3x2

8 (Avg. 1,100 SF)

3x2.5

1 (Avg. 1,300 SF)

TOTAL

107 (Avg. 847 SF)

Opportunity

Attractive Seller Financing Terms Available

Rare Market Offering

First 100+ unit offering since 2015 in a market defined by long-term ownership and extremely limited transaction volume. With rents approximately 26% below market and operating expenses exceeding 60%, new ownership has a clear path to unlock value in one of Pierce County’s most sought-after markets. Offering 1, 2, and 3-bedroom units with an average size of 847 SF, meaningfully larger than typical 1970s-era apartment product.

Located in the Heart of University Place

Located in the highly desirable University Place submarket, known for strong schools, stable demand, and limited new supply. One of Pierce County’s most sought-after rental markets, supported by long-term owner-occupant appeal and consistent tenant demand. University Place SD ranks #8 statewide and #1 in Pierce County. The district consistently outperforms county and state averages on graduation and proficiency, drawing affluent families who pay a premium to live within UPSD boundaries.

~$1M of CapEx Invested

Nearly $1M of Capital improvements have been done since 2020 – including 66% of roofs, drain repairs, siding repairs, and more.

Only two University Place apartment assets of institutional scale (100+ units) have publicly traded in the past 16 years. The last transaction closed in July 2015. Boulder Park is the first opportunity in nearly eleven years.

2

Unique Assets Traded

3

Total Transactions Recorded

0

Currently Available - Except this One!

The Takeaway

Institutional-scale assets in University Place are held for decades. Boulder Park is the first 100+ unit opportunity to surface in nearly eleven years.

Location

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on the market

Boulder Park

7523 44th St W
University Place, WA 98466
Units: 107
Price: $18,000,000

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About the Area

Located in University Place, Pierce County’s most affluent and supply-constrained suburban submarket – Boulder Park offers a high-demand residential setting anchored by the top-rated school district in the county, Chambers Bay waterfront access, and stable home values. The property is just minutes from State Route 16, providing seamless connectivity to Interstate 5, Downtown Tacoma, and the greater South Sound region.

The location offers convenient access to the area’s largest employment drivers, including Joint Base Lewis-McChord, MultiCare Health System, and Virginia Mason Franciscan Health, supporting consistent rental demand. Residents also benefit from proximity to Chambers Bay, major retail corridors, and Tacoma’s primary dining and lifestyle amenities, reinforcing the property’s long-term investment appeal.