Fully Renovated Property near University Sells for $6M
SEATTLE, Wash. – January 31, 2022 – Colliers has successfully facilitated the acquisition of Hudson Court, a 30-unit apartment building in Tacoma, Washington. Led by multifamily experts Tim McKay, Dan Chhan, Sam Wayne and Matt Kemper, Colliers represented the buyer in the transaction, which closed today for $6,075,000.
Hudson Court has recently undergone a full interior and exterior renovation and features updated landscaping, fencing and parking. The property also offers opportunity to further increase value through additional amenity upgrades.
“Hudson Court was a great acquisition for our client, who came to us for help with the upleg of a 1031 exchange,” said McKay. “We were able to help them double their cashflow through the transaction process. Plus, the property’s full renovation and location in an up and coming submarket position it well for long term growth.”
Located at 14117 C Street in Tacoma, Hudson Court is situated in one of Tacoma’s most rapidly growing communities. The property is just a few blocks from Pacific Lutheran University, and within 6 miles of major employers at Joint Base Lewis McChord and Boeing Frederickson. Residents enjoy good proximity to shopping, entertainment and services in downtown Tacoma, while also being less than an hour away from both Olympia and Seattle. The area is also served by a Sound Transit station that provides train access to Seattle and its northern suburbs.
Allison+Partners for Puget Sound
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