202 Tacoma Ave South Tacoma, WA 98402

Highlights:

• Identified opportunity in a neglected vintage apartment asset
• Located in Tacoma’s highly desirable Stadium District
• Restored and repositioned a premier historic Northwest building
• Implemented operational improvements to enhance performance
• Achieved strong rent growth and increased ancillary income streams

Financials:

• Purchase Price (2015): $4.25 million
• Cap X: $200,000
• Sale Price (2017): $6.4 million
• Investor IRR: 29%